Abdullah Al Othaim Investment acquires Oasis Mall at Qassim

Logo of Abdullah Al Othaim Investment Co.

Abdullah Al Othaim Investment Co. announced acquiring the Oasis Mall at Qassim Province, Sabq newspaper reported.

Meshaal bin Omairah, CEO of Abdullah Al Othaim, said the agreement comes as part of the company's recently-announced expansion plan, which aims to add 20 new malls by 2030.

He added that the newly-acquired mall reflects the company's commitment to expanding its branch network to cover all cities of the Kingdom, as it currently owns eight shopping malls, along with two new ones in Hafar Al Batin and Khafji that will be opened in 2022.

The new mall, to be branded "Al Othaim Mall", will witness a comprehensive developmental shift with the entry of several international brands as well as recreational and marketing activities, the CEO said.

He added that the move will reflect positively on the city's commercial activities and contribute to providing several job opportunities.

The company announced its expansion plan, which includes opening 20 new malls worth over SAR 10 billion by 2030. The move will bring its total number of malls to 30 by 2030.

It owns eight shopping malls, namely, Al Othaim Mall Rabwa, Riyadh, Al Othaim Mall Khurais, Riyadh, Al Othaim Mall Buraidah, Al Othaim Mall Unaizah, Al Othaim Mall Dammam, Al Othaim Mall Al Ehsaa, Grand Mall Hail and Arar Mall, according to data available with Argaam.