Real estate management company Aqari Investment Holding has signed an agreement with Riyadh-based promoters Al-Jazeera United Limited to handle the marketing, operation and maintenance of the mall.
According to Aqari CEO Khalid Al-Harbi, the mall will cover a total area of almost 120,000 square meters. Aqari will market all 276 shops in the mall.
The mall is located on the Taif-Riyadh Road, which according to Al-Harbi is the most commercially viable place in the city.
While it is easily accessible for local residents, it also offers tourists and travelers an easy to reach commercial center with all modern amenities.
Construction work has already started and a marketing office has been set up on the site. Al-Harbi said the shops would be leased at SR800 per square meter for the first two years. After this initial period businesses can then renegotiate their leases.
Al-Harbi said Taif was among the high priority areas for development in Saudi Arabia.
Because of its pleasant weather and popular tourist destinations, the city offers endless opportunities for investors.
"So anyone investing in Taif is sure to get high returns. The Rosa Mall is one such opportunity and the interest shown by businessmen is testimony to this," he said.