Fawaz Alhokair expects 11 stores damage from Dhahran mall fire, no significant financial impact

Logo of Fawaz Alhokair

Fawaz Abdulaziz Alhokair Co.’s (Fawaz Alhokair) preliminary estimates indicate that 11 out of 64 stores in the Mall of Dhahran, managed by Arabian Centres Co. (ACC), were damaged by fire on May 13. 

In a bouse filing, the company said that its management would accurately assess the financial impact of the accident after a detailed survey of the site. 

The firm does not expect the accident to have a material impact on its financial statements, given the comprehensive insurance coverage for Alhokair branches in the mall. 

Fawaz Alhokair operates close to 1,800 stores and will continue to serve its customers in other branches in Al Nakheel Mall and Al Rashid Mall, Eastern Province.  

ACC announced that a blaze broke out at the Mall of Dhahran on May 13, Argaam reported. The civil defense teams extinguished the fire, with no injuries reported.  

The company said that the fire affected a limited portion of the mall’s expansion area on the western side, which opened in 2008.  

Elsewhere, ACC said today that the affected area is less than 10% of the mall’s gross leasable area (GLA), based on an initial field survey of the site.