Saudi mall operator Arabian Centers awards $70m contract to build Madinah Walk

Muslim worshippers arrive for noon prayer at the Prophet Mohammed's mosque in Saudi Arabia's holy city of Medina, Islam's second holiest city, on May 31, 2020. (AFP/File)

• It is part of a wider push to tap retail opportunities from Madinah’s growing population

DUBAI: Saudi mall operator Arabian Centers has awarded a SR257.3 million ($70 million) contract to start construction of Madinah Walk.
Lynx Contracting Company was awarded the main contract, the mall operator said in a filing on Wednesday.
Only the second project of Arabian Centers in Madinah, the new destination will add 57,000 square meters of gross leasable area.
It is part of a wider push to tap retail opportunities from Madinah’s growing population, as well as capitalizing on the gradual return of pilgrim traffic in the province.
Arabian Centers said it was also part of its strategy of seizing opportunities and prime locations in areas where there is still an elevated demand for modern lifestyle destinations such as outdoor shopping centers.
Saudi Arabia has seen massive developments in its entertainment scene in recent months, as part of the Kingdom’s push to modernize the economy.