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Element List	Explanation
Introduction	Cenomi Centers, the leading developer and operator of contemporary lifestyle destinations in the Kingdom of Saudi Arabia, announces that it has signed, on 12/10/1447 corresponding to 31/03/2026, a promise-to-lease agreement with Saudi Downtown Company, a wholly owned subsidiary of the Public Investment Fund, for the leasing and operation of a new flagship destination in the city of Al Khobar. This destination will be Cenomi Centers’ largest shopping mall in the Eastern Province and will contribute to enhancing economic activity, improving quality of life, and creating employment opportunities across the region. It will also set new benchmarks in the retail and lifestyle sectors within the city. Alison Rehill-Erguven, Chief Executive Officer of Cenomi Centers, stated: “Today’s announcement of our strategic partnership with Saudi Downtown Company reflects our commitment to our asset-light growth strategy and further reinforces Cenomi Centers’ position as a key partner in delivering Vision 2030 objectives across the retail, F&B, and entertainment sectors."
Date of Announcement of the Award	2026-03-31 Corresponding to 1447-10-12
Contract Subject Matter	A promise to lease agreement with Saudi Downtown Company for the leasing and operation of a shopping mall in Al Khobar.
The Entity with Which the Contract was Signed	Saudi Downtown Company
Date of Signing the Contract	2026-03-31 Corresponding to 1447-10-12
Contract Value	This agreement holds no contract value, as it constitutes a promise to lease and operate.
Contract Details	The agreement has a term of three (3) years and may be extended for an additional two (2) years if both parties mutually agree.
Contract Duration	The promise to lease agreement is for a term of three (3) years, concluding when Cenomi Centers takes possession of the shopping mall. After the handover, a lease and operation agreement for the mall will be established for a duration of twenty-five (25) years.
Financial Impact and the Relevant Period	There is no financial impact at this time because the agreement represents a commitment to lease and operate.
Related Parties	There are no related parties involved.
Additional Information	Cenomi Centers is the largest owner of contemporary shopping malls in the Kingdom of Saudi Arabia and a leading company in their development and operation. For over two decades, the Company has provided its customers with a diverse portfolio of high-quality shopping malls designed in accordance with the highest modern standards, located in some of the most attractive destinations across the Kingdom, with the aim of meeting customer needs and evolving market demands. Saudi Downtown Company, a subsidiary of the Public Investment Fund, focuses on developing urban destinations and city centers that deliver sustainable economic and social impact across targeted cities in the Kingdom. These developments contribute to enhancing quality of life, stimulating economic activity, and creating new opportunities across various sectors, including hospitality, tourism, retail, entertainment, office spaces, residential developments, and more.

Cenomi Centers Signs a Promise to Lease Agreement with Saudi Downtown Company for the Leasing and Operation of a Flagship Destination in Al Khobar.