Cenomi Centers' Westfield Jeddah Goes Operational, Eyes SAR350M EBITDA

CENOMI CENTERS

CENOMI CENTERS

4321.SA

0.00

Arabian Centres Company (Cenomi Centers) announced on August 4, 2026 the completion of major construction works for the Westfield Jeddah project, with the Occupancy Certificate issued and the project officially transitioning to its operational phase as of July 30, 2026. Pre-leasing has reached approximately 96%, with tenants currently completing fit-out works ahead of opening for trade. Once stabilized, Westfield Jeddah is expected to contribute approximately SAR 350 million in additional EBITDA, strengthening the company's net profits and cash flow. The project is notably the first mall in Saudi Arabia to receive LEED Gold certification and features the Kingdom's first international-standard luxury wing, alongside a diverse portfolio of entertainment, lifestyle, luxury, and F&B tenants.

Original announcement:

https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97247&anCat=1&cs=4321&locale=ar

Important Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.