The Red Sea Mall, Jeddah’s biggest shopping center, is planning the largest expansion project in its history.
The announcement came at a special ceremony attended by VIP retailers, business leaders and media at Jeddah’s Park Hyatt Hotel.
Shaiks Saleh Bin Mahfouz, chairman of Red Sea Mall Markets Co., touted the launch of the mall’s expansion project, which will come in over $53 million.
“The expansion will add even more international brands and entertainment facilities and underscores our unwavering commitment to enhancing the Red Sea Mall experience for our valued visitors and tenants,” Bin Mahfouz said.
Bin Mahfouz also expressed appreciation to the Red Sea Mall’s community, including vendors and employees for their loyalty and hard work. He applauded collaborative efforts from the myriad of companies that work within the Red Sea Mall, which have helped the mall remain Jeddah’s premier shopping and entertainment hub.
Mohammed Alawi, CEO of Red Sea Markets Co., said the massive expansion was necessary to meet growing demand for commercial rental space.
“There is a huge demand for commercial rental space at the Red Sea Mall,” Alawi said. “We have a long waiting list of potential tenants, and this list increases on average by eight percent annually.”
The expansion will add around 145,000 square meters of leasable space, including a 4,000 square meters of open space that will showcase major international brands and a variety of restaurants. The expansion will also includes a new parking structure with 1,400 new parking spaces.
The expansion is slated for completion by the end of 2016.
