In a groundbreaking move, Unibail-Rodamco-Westfield (URW) and Cenomi Centers have signed a strategic and franchising partnership agreement for the Kingdom of Saudi Arabia (KSA). This new venture will bring with it the world-class Westfield brand to the Saudi retail scene, marking a significant milestone for both companies.
The 10-year partnership, with the option for an additional 10-year extension, aims to introduce the unique Westfield brand shopping experience to some of the top shopping destinations in the Kingdom.
What Does the Partnership Mean for Saudi Arabia?
Cenomi Centers, a major name in Saudi Arabia’s shopping center market, will now exclusively use the Westfield brand for its properties in the Kingdom. With 21 locations in key cities like Jeddah, Riyadh, and Dammam, this partnership is set to transform Saudi Arabia’s shopping scene. The focus will first be on top destinations such as Jawharat Jeddah, Jawharat Riyadh, and Nakheel Dammam, bringing Westfield’s unique shopping experience to life.
A Strong Alliance for Future Growth
This collaboration between Westfield brand and Cenomi Centers reflects both companies’ commitment to the future of retail in Saudi Arabia. URW will help with leasing, operations, marketing, and retail media, ensuring Westfield’s brand is consistently represented. Cenomi Centers will continue to own and manage its shopping centers, including those being rebranded, while URW will receive fixed and variable licensing fees.
Supporting Saudi Arabia’s Economic Growth
Jean-Marie Tritant, CEO of Unibail-Rodamco-Westfield, says the partnership with Cenomi Centers and Westfield brand, helps grow the retail sector and supports Saudi Arabia’s broader economic goals. By expanding in KSA, URW is contributing to the country’s development, modernizing the retail landscape, and supporting the Kingdom’s Vision 2030.
A Bright Future Ahead
Alison Rehill-Erguven, CEO of Cenomi Centers, expressed her excitement about the partnership with Westfield brand, emphasizing how it aligns with Saudi Arabia’s economic growth. This partnership positions Cenomi Centers as the leading operator and developer of lifestyle centers in the country, paving the way for new opportunities for tenants and growth for years to come.
The partnership between URW and Cenomi Centers is opening a new chapter in Saudi Arabia’s retail market. With plans to bring the Westfield brand to up to eight Cenomi Centers, shoppers can look forward to an improved shopping experience with world-class retail. As the companies collaborate, this partnership is set to have a lasting impact on the Kingdom’s retail scene, starting in 2025 and beyond.
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Riyadh is booming with a variety of events and new developments. If you’re into food, the city will be hosting the Saudi Food Show and you can read more about it here.
