Cenomi Centers

Cenomi Centers has built on its established platform while gradually evolving its portfolio in response to changing consumer expectations. Its portfolio today includes a growing mix of integrated, experience-led destinations that bring together retail, dining, entertainment and community spaces. This evolution appears to be supported by a more active approach to asset management, with an increased focus on long-term value creation alongside leasing performance.

Its portfolio includes some of the Kingdom’s most well-known retail assets, including Al Nakheel Mall in Riyadh, Westfield Dammam, Mall of Arabia in Jeddah, U Walk Riyadh and The View developments. While each destination serves a different catchment, there is a consistent focus on relevance and usability. This comes through in tenant mix, layout and the steady introduction of new concepts that respond to how consumers’ habits are evolving. Increasingly, there is also a focus on ensuring that each asset reflects the character of its surrounding community.

A key part of this strategy has been continuous enhancement. Cenomi Centers has invested heavily in upgrading its malls, refreshing retail offerings and introducing more lifestyle and entertainment components. Destinations like U Walk Riyadh reflect a growing preference for open-air environments and walkable formats, while larger assets such as Al Nakheel Mall continue to operate as full-day destinations that bring together retail, leisure and hospitality. Programming and seasonal activations have also become more prominent, helping to maintain footfall and keep destinations relevant throughout the year.

Looking ahead, the company is entering a new phase of development through its partnership with Unibail-Rodamco-Westfield. The agreement gives Cenomi Centers exclusive rights to the Westfield brand in Saudi Arabia and marks a step change in how it positions its future assets. It also provides access to global expertise in leasing, operations and destination management.

The two flagship Westfield developments in Riyadh and Jeddah are now nearing completion and are expected to both launch within 2026. These projects are set to introduce a new standard for retail in the Kingdom, both in terms of scale and experience. They will combine international and regional retail with a strong focus on food, entertainment and design, creating destinations that are intended to attract both residents and visitors. In many ways, they reflect a maturing market that is not only aligned with global benchmarks but is emboldened to surpass them.

More broadly, these developments reflect a shift towards retail that is less transactional and more destination driven. The focus is increasingly on creating places where people spend time, rather than simply pass through. This is particularly relevant in Saudi Arabia, where demographic growth, urban expansion and a young population are reshaping demand.

As Vision 2030 continues to drive economic diversification and urban development, retail is becoming more closely linked to tourism, quality of life and city identity. Within this context, Cenomi Centers is not just expanding its footprint, but helping to define what modern retail looks like in Saudi Arabia.