Cenomi Centers says occupancy up to 94.4% by 2024-end
Arabian Centres Co.'s (Cenomi Centers) leasing performance was strong in Q4 2024, with occupancy rates rising to 94.4% by the end of the year, Khalid AlJanahi, Chief Commercial Officer, told Argaam.
In an interview on the sidelines of the Retail Leadership Summit, AlJanahi pointed out that the company's project portfolio is among the largest in the Middle East, with gross leasable area (GLA) of 1.3 million square meters (sqm).
He highlighted that the Jawharat Riyadh and Jawharat Jeddah projects will contribute to a 44% increase in the GLA, bringing it to two million sqm over the next four years.
The company is focused on maintaining high occupancy rates in the coming years, with efforts to optimize tenant mix and activities within its malls, the executive said.
He noted that indicators point to a compound annual growth rate of 6% in the retail sector over the next four years.
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