Arabian Centres, a major developer, owner and operator of international standard shopping malls in Saudi Arabia, has opened Yasmin Mall at a prime location in Jeddah.

With a total gross leasable area (GLA) of nearly 60,000 sqm, Yasmin Mall will house 210 retail outlets, including a wide range of entertainment and leisure options.

Simon Wilcock, CEO of Arabian Centres, said: “We are delighted to open our fifth mall in Jeddah and our 18th across the Kingdom. Visitors will be greeted with a fantastic mix of retail, entertainment and leisure facilities. With an estimated annual footfall of nine million, Yasmin Mall is a fantastic destination for retailers seeking to build or further expand their brand in the Kingdom.”

Yasmin Mall is the 18th shopping center in Arabian Centres’ rapidly growing retail real estate portfolio. Arabian Centres is currently developing 11 further shopping malls in the Kingdom that range in size from 45,000 sqm to 165,000 sqm, with launches from Riyadh to Dhahran.

Once completed by 2018, the new developments will double Arabian Centres’ total portfolio to nearly 2 million sqm of GLA, “reinforcing its position as the number one malls developer and operator in Saudi Arabia.”

The expansion program, which is also in line with the developer’s determined push to transform the Kingdom’s retail sector, will offer a host of world-class facilities for shopping, entertainment and leisure, thereby further enhancing the appeal of retail sector in Saudi Arabia.

The Kingdom’s thriving retail sector is expected to be a main beneficiary of the current diversification drive by the government, and could potentially become engines of growth, productivity, and employment in the future.

According to a recent McKinsey report, the retail sector has the potential to double its productivity in the next 15 years and generate up to 800,000 additional jobs for Saudi nationals.