Arabian Centres says fire impacted less than 10% of Dhahran mall’s GLA, financial impact seen at SAR 25 mln

Logo of Arabian Centres Co.

Arabian Centres Co. (ACC) said that the fire at the Mall of Dhahran affected a limited portion of the mall’s expansion area on the western side, which opened in 2008. The affected area is less than 10% of the mall’s gross leasable area (GLA), based on an initial field survey of the site.  

ACC is awaiting the detailed accident report, which will be issued by the General Directorate of Civil Defense. The fire was extinguished with no injuries or casualties, the company said in a statement to Tadawul.

The company expects to reopen the mall within the next few weeks, due to the limited impact of the fire. It will assess the relevant financial impact when the field survey is complete. An initial financial impact is expected at SAR 25 million, given the insurance coverage policy with the claim procedure already underway.

The insurance coverage of this mall, and of the other 20 commercial centres, is comprehensive. It covers the entire facilities of the malls and any loss of revenue resulting from the suspension of its operational activities as a result of such accidents, ACC clarified.

Any related developments in this regard and updates on the reopening will be announced in due course, the statement concluded.

ACC earlier announced that a blaze broke out at the Mall of Dhahran on May 13, noting that the shopping center will be closed until further notice, Argaam reported.