Cenomi Centers and Unibail-Rodamco-Westfield (URW) have entered into a 10-year exclusive strategic and franchising partnership, with the possibility of a 10-year extension.
The agreement covers the Saudi Arabian shopping center market and underscores Cenomi Centers’ strong commitment to reinforcing its leadership in both Saudi Arabia and the wider MENA region.
Under this partnership, Cenomi Centers will obtain the exclusive licensing rights to the Westfield brand in KSA from URW, and tap into URW’s best-in-class network and capabilities across a full range of support in key areas including Leasing, Operations, Marketing, Retail Media, and more, allowing Cenomi Centers’ Westfield-branded malls to be top-of-mind destinations for consumers, tourists, and brands, while boosting its market share.
Under the Westfield brand, and with URW’s support, Cenomi Centers will offer Saudi residents and tourists the next generation of world-class shopping center experiences, boosting tourism and global engagement within the sector, acting as a powerful contributor to Vision 2030’s objectives of enhancing quality of life, and opening the Kingdom to the world’s global retail champions.
The partnership between Cenomi Centers and URW marks a pivotal moment in the evolution of retail and lifestyle in Saudi Arabia. By combining Cenomi Centers’ unparalleled market leadership with URW’s global expertise and the Westfield brand, this collaboration promises to redefine the shopping experience in the region.
Alison Rehill-Erguven CEO – Cenomi Centers
“We are thrilled to embark on this groundbreaking and exclusive partnership with URW, a global leader in the retail industry. 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. Together, we will cement our position as the leader in KSA by introducing exciting new growth and tenancy opportunities for many years to come.”
Jean-Marie Tritant, CEO of Unibail-Rodamco-Westfield, said that, “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.”
“We are tremendously proud of the partnership, and the opportunity to work with Cenomi Centers to contribute to the broader economic and development goals of the Kingdom,” the CEO of Unibail-Rodamco-Westfield added.
