{"id":66008,"date":"2024-08-14T11:26:38","date_gmt":"2024-08-14T08:26:38","guid":{"rendered":"https:\/\/gulftech-news.com\/en\/?p=66008"},"modified":"2025-04-14T09:21:14","modified_gmt":"2025-04-14T07:21:14","slug":"cenomi-centers-records-high-h1-24-lease-demand-and-record-footfall","status":"publish","type":"post","link":"https:\/\/gulftech-news.com\/en\/2024\/08\/14\/cenomi-centers-records-high-h1-24-lease-demand-and-record-footfall\/","title":{"rendered":"CENOMI CENTERS RECORDS HIGH H1-24 LEASE DEMAND AND RECORD FOOTFALL"},"content":{"rendered":"\n<ul class=\"wp-block-list\">\n<li><em><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\"><strong>1,306 leases were renewed in first half of the year<\/strong><\/mark><\/em><\/li>\n\n\n\n<li><em><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">235 brands onboarded, 65 of which were new to Cenomi Centers\u2019 portfolio. Prominent new brands include Lululemon, Charlotte Tilbury and Five Guys<\/mark><\/strong><\/em><\/li>\n\n\n\n<li><em><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\"><strong>Occupancy rate across Cenomi Centers\u2019 portfolio remains robust at 92.5%<\/strong><\/mark><\/em><\/li>\n\n\n\n<li><em><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\"><strong>Leasing figures confirm Cenomi Centers\u2019 continued strong performance following record H1 footfall and y-o-y increase in net profit and EBITA<\/strong><\/mark><\/em><\/li>\n<\/ul>\n\n\n\n<p><strong><a href=\"https:\/\/www.linkedin.com\/company\/cenomicenters\/\">Cenomi Centers<\/a><\/strong>, the largest owner, operator and developer of contemporary lifestyle centers in Saudi Arabia, continues to demonstrate strong business performance and high demand for space across its 22 centres with 1,306 leases renewed in the first half of 2024, with 235 brands being onboarded in the six-month period.<\/p>\n\n\n\n<p>Among those brands, 65 were new to Cenomi Centers\u2019 universe and include prominent names such as Asics, Vox Cinemas, Oakley, Five Guys and Charlotte Tilbury. The half-year leasing activity proves that demand for prime retail space remains high in the Kingdom.<\/p>\n\n\n\n<p>Alongside robust leasing figures, occupancy remains solid across Cenomi Centers\u2019 portfolio, with like-for-like occupancy up by 1.1% to 92.5% in H1-24. <\/p>\n\n\n\n<p>The increase in the occupancy rate while conducting a proactive retail rotation to provide a superior retail mix, is testament to the enduring appeal of <strong><a href=\"https:\/\/x.com\/cenomicenters\">Cenomi Centers<\/a><\/strong> as premier destinations for both retailers and consumers. Cenomi Centers has a target occupancy of 94% by the end of December 2024.<\/p>\n\n\n\n<p>Further proving Cenomi Centers\u2019 appeal to retailers is the demand for space at two of its flagship developments: Jawharat Riyadh and Jawharat Jeddah. <\/p>\n\n\n\n<p>While still under construction \u2013 with structural completion at 90.1% in Riyadh and 91.0% in Jeddah \u2013 demand for space at both sites is high; Jawharat Jeddah\u2019s pre-leasing is 70% complete (based on agreed Head of Terms, signed Letter of Intent and signed Contracts), offering 300+ stores including 10+ new brands to Jeddah and over 20 exclusive retailers. <\/p>\n\n\n\n<p>Jawharat Riyadh will feature 300+ of the world\u2019s most sought-after brands across over 150 flagship stores including more than 10 new retailers to Riyadh. 70% of the unique brands to Jawharat Riyadh are secured.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/gulftech-news.com\/en\/wp-content\/uploads\/2024\/08\/\u0633\u064a\u0646\u0648\u0645\u064a-\u0633\u0646\u062a\u0631\u0632-2-1024x576.jpeg\" alt=\"\" class=\"wp-image-66009\" srcset=\"https:\/\/gulftech-news.com\/en\/wp-content\/uploads\/2024\/08\/\u0633\u064a\u0646\u0648\u0645\u064a-\u0633\u0646\u062a\u0631\u0632-2-1024x576.jpeg?v=1723623973 1024w, https:\/\/gulftech-news.com\/en\/wp-content\/uploads\/2024\/08\/\u0633\u064a\u0646\u0648\u0645\u064a-\u0633\u0646\u062a\u0631\u0632-2-300x169.jpeg?v=1723623973 300w, https:\/\/gulftech-news.com\/en\/wp-content\/uploads\/2024\/08\/\u0633\u064a\u0646\u0648\u0645\u064a-\u0633\u0646\u062a\u0631\u0632-2-768x432.jpeg?v=1723623973 768w, https:\/\/gulftech-news.com\/en\/wp-content\/uploads\/2024\/08\/\u0633\u064a\u0646\u0648\u0645\u064a-\u0633\u0646\u062a\u0631\u0632-2-1536x864.jpeg?v=1723623973 1536w, https:\/\/gulftech-news.com\/en\/wp-content\/uploads\/2024\/08\/\u0633\u064a\u0646\u0648\u0645\u064a-\u0633\u0646\u062a\u0631\u0632-2-390x220.jpeg?v=1723623973 390w, https:\/\/gulftech-news.com\/en\/wp-content\/uploads\/2024\/08\/\u0633\u064a\u0646\u0648\u0645\u064a-\u0633\u0646\u062a\u0631\u0632-2.jpeg?v=1723623973 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Leasing demand is also high at Cenomi Centers\u2019 new lifestyle center, U Walk Jeddah, which held its Grand Opening in February 2024. <\/p>\n\n\n\n<p>It opened at 80% pre-let with major names including Zara, Victoria\u2019s Secret, Lululemon and Nike. New retailer names including firsts for the city are soon to be announced.<\/p>\n\n\n\n<p>Underpinning Cenomi Centers\u2019 sustained business performance is its record footfall levels, which continue to rise. In H1-24, footfall levels recorded were at an all-time high of 66 million visitors \u2013 a 4.6% y-o-y increase.<\/p>\n\n\n\n<p><strong>Alison Rehill-Erguven, CEO Cenomi Centers, said:<\/strong> \u201cWe are delighted to see our centers continue to sustain their popularity as demonstrated by the strong leasing figures, occupancy rates and high caliber of brands choosing to open in our centers. <\/p>\n\n\n\n<p>We continue to be the major gateway for retailers to reach Saudi consumers with record footfall of 66 million visitors in the first six months of this year.<\/p>\n\n\n\n<p>Our experience, heritage and commitment to the future of retail in KSA will change the way Saudi Arabia imagines retail and lifestyle experiences. <\/p>\n\n\n\n<p>Our new flagship developments, Jawharat Riyadh and Jawharat Jeddah will create the space that retailers need and will attract a large number of global brands to the Kingdom for the first time.\u201d<\/p>\n\n\n\n<p>Cenomi Centers\u2019 leasing figures, occupancy rates and record footfall cement its leading position in the Kingdom and demonstrates its commitment to developing flagship and lifestyle centers that support Vision 2030, creating jobs in local regions, boosting local economies and tourism and ultimately, driving KSA\u2019s retail sector forward.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>1,306 leases were renewed in first half of the year 235 brands onboarded, 65 of which were new to Cenomi Centers\u2019 portfolio. Prominent new brands include Lululemon, Charlotte Tilbury and Five Guys Occupancy rate across Cenomi Centers\u2019 portfolio remains robust at 92.5% Leasing figures confirm Cenomi Centers\u2019 continued strong performance following record H1 footfall and &hellip;<\/p>\n","protected":false},"author":2,"featured_media":66010,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-66008","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CENOMI CENTERS RECORDS HIGH H1-24 LEASE DEMAND AND RECORD FOOTFALL - Gulf Tech News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gulftech-news.com\/en\/2024\/08\/14\/cenomi-centers-records-high-h1-24-lease-demand-and-record-footfall\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CENOMI CENTERS RECORDS HIGH H1-24 LEASE DEMAND AND RECORD FOOTFALL - Gulf Tech News\" \/>\n<meta property=\"og:description\" content=\"1,306 leases were renewed in first half of the year 235 brands onboarded, 65 of which were new to Cenomi Centers\u2019 portfolio. Prominent new brands include Lululemon, Charlotte Tilbury and Five Guys Occupancy rate across Cenomi Centers\u2019 portfolio remains robust at 92.5% Leasing figures confirm Cenomi Centers\u2019 continued strong performance following record H1 footfall and &hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/gulftech-news.com\/en\/2024\/08\/14\/cenomi-centers-records-high-h1-24-lease-demand-and-record-footfall\/\" \/>\n<meta property=\"og:site_name\" content=\"Gulf Tech News\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-14T08:26:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-14T07:21:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/gulftech-news.com\/en\/wp-content\/uploads\/2024\/08\/\u0633\u064a\u0646\u0648\u0645\u064a-\u0633\u0646\u062a\u0631\u0632.jpeg?v=1723623991\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"bessan helmi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"bessan helmi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/gulftech-news.com\/en\/2024\/08\/14\/cenomi-centers-records-high-h1-24-lease-demand-and-record-footfall\/\",\"url\":\"https:\/\/gulftech-news.com\/en\/2024\/08\/14\/cenomi-centers-records-high-h1-24-lease-demand-and-record-footfall\/\",\"name\":\"CENOMI CENTERS RECORDS HIGH H1-24 LEASE DEMAND AND RECORD FOOTFALL - 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