Cenomi Centers has signed a 10-year exclusive strategic and franchising partnership with global retail giant Unibail-Rodamco-Westfield (URW), bringing the prestigious Westfield brand to Saudi Arabia’s retail sector for the first time.
The agreement, which includes an option to extend for another decade, gives Cenomi Centers exclusive licensing rights to the Westfield brand in the Kingdom. The partnership was formalised during a signing ceremony at Jawharat Riyadh, one of three malls initially selected for Westfield branding alongside Jawharat Jeddah and Nakheel Dammam.
The collaboration is expected to impact up to eight top-performing centers in Cenomi’s portfolio, with more details to be announced in coming months, according to company officials.
“We are thrilled to embark on this groundbreaking and exclusive partnership with URW, a global leader in the retail industry,” said Alison Rehill-Erguven, CEO of Cenomi Centers. “This collaboration not only solidifies our position as the leading owner, operator and developer of contemporary lifestyle centers in Saudi Arabia, but also aligns with the Kingdom’s broader goals for economic growth and development in both the sector and region.”
Under the agreement, Cenomi Centers will gain access to URW’s expertise in leasing, operations, marketing, and retail media. The Saudi company aims to leverage this knowledge to transform its Westfield-branded malls into premier destinations for consumers, tourists and global brands.
Jean-Marie Tritant, CEO of Unibail-Rodamco-Westfield, expressed optimism about the partnership’s potential: “Cenomi Centers is an incredible partner that shares our vision for the future of retail. Its portfolio of flagship destinations matches the ambition of the Westfield brand, providing the perfect platform to deliver Westfield’s unmatched experience to customers and visitors in the Kingdom while also supporting the brand’s international expansion.”
The partnership comes as Saudi Arabia continues to implement its Vision 2030 programme, which aims to diversify the economy and enhance quality of life for residents.
According to company officials, the exclusive partnership affirms Cenomi Centers’ premier position in its home market and represents a significant vote of confidence in the company’s growth trajectory. The agreement is expected to deliver multiple strategic advantages to Cenomi Centers.
First, with Westfield attracting over 900 million annual visits across its US and European locations and being widely recognised by Saudi consumers and visitors alike, Cenomi Centers can significantly expand its customer base among citizens, residents, and tourists.
The partnership also enables enhanced tenant offerings through access to URW’s global relationships, helping Cenomi increase its share of key global anchor brands and first-to-KSA stores. This is expected to create a more differentiated retail environment that drives higher footfall and tenant sales.
“The collaboration will allow us to significantly enhance customer experience to international best-in-class standards,” a Cenomi spokesperson noted. The company plans to introduce the latest digital technologies, including in-mall apps and services, to Saudi consumers.
Financial analysts point to additional growth opportunities as the partnership is projected to boost Cenomi Centers’ performance across both existing and new developments. This includes not only core gross leasable area (GLA) business but also digital media sales through URW’s Westfield Rise retail media agency. The companies will also collaborate on third-party business opportunities serving the Kingdom’s major retail and lifestyle developments.
Sustainability initiatives will also benefit, as Cenomi Centers gains access to URW’s best-in-class tools, systems, and operational manuals to boost sustainability and operational efficiencies across its portfolio.
The financial structure of the partnership includes fixed and variable licensing and service fees for URW, with opportunities for further business and licensing collaborations within Saudi Arabia.
The agreement represents a significant vote of confidence in Cenomi Centers’ growth trajectory and established market position in the Kingdom, marking what both companies describe as a pivotal moment in the evolution of retail and lifestyle experiences in Saudi Arabia.
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