SICO unveils Riyadh mall as part of its expansion drive

Saudi Investment Company (SICO) announced the opening of the first phase of Quwaieyah Mall in Al Quwaieyah City, the largest mall in Riyadh.

Located 170 kilometers west of Riyadh City on the Riyadh-Makkah Highway, the 70,000 square meters (sqm) mall will be the first stop point for travelers on Makkah Highway, the Saudi-based shopping malls owner said in a statement on Tuesday.

Worth SAR 75 million, the Quwaieyah Mall has been designed using state-of-the-art retail space concepts for ease of shopping and display and offers a strategic mix of retail, food and beverage (F&B), and entertainment options.

The mall will have a gross leasable area (GLA) of around 25,000 sqm, with 65 percent of space reserved for retail units, 20 percent for entertainment and 15 percent for food and beverage outlets.

The mall will host the first cinema theatre in Al Quwaieyah City, Sparky’s entertainment zone by Al Hokair Group and will have an outdoor parking space for nearly 800 vehicles.

Upon the completion of the third phase, the mall will include a four-star hotel, in addition to a “bazaar” that will organize about 40 exhibitions to promote local entrepreneurs.

“Quwaieyah Mall will generate 450 job opportunities for Saudi men and women, as the booming retail sector in Saudi Arabia is one of the principal beneficiaries of the diversification drive under the Vision 2030 program,” Fahad Alshathri, managing director of SICO, said.

The opening of the Quwaieyah Mall is part of SICO’s expansion strategy which aims to increase its mall numbers to 13 by 2025 across Saudi Arabia.

“We are currently developing five new shopping malls in the Kingdom that range in size from 30,000 sqm to 100,000 sqm. Our GLA will double to 234,000 sqm once these malls are completed, reinforcing our position as one of the leading mall developer and operator in the Kingdom,” Alshathri added.