Arabian Centers Company (Cenomi Centers) Announces that The Project Company Developing the “Westfield Riyadh” Project has signed an upsized Shariah-Compliant financing facility with Riyad Bank.

Cenomi Centers’ special-purpose vehicle signed a Commercial Terms Agreement with Riyad Bank to upsize a Murabaha financing facility to SAR 2.7 billion for the completion of the "Westfield Riyadh" project.
The facility includes an accordion option of up to SAR 200 million, bringing the total potential financing to SAR 2.9 billion with a duration of 9.5 years, including a 2-year grace period.
Funding is designated for remaining construction costs, including a VIP lounge and luxury retail wing, as well as tenant fit-out support for the 220,000 sqm GLA destination.
The project has reached over 92% pre-leasing through agreed terms and contracts, and is supported by guarantees from the company’s substantial shareholders and related parties.

Element List	Explanation
Introduction	As part of the Company's strategy to develop its flagship projects, Arabian Centers Company (“Cenomi Centers, announces that Durrat Al Raed Investment Company Limited (Single Person Company) (the “SPV”), the special-purpose vehicle established for the development of the Company’s new flagship lifestyle mall in Riyadh “Westfield Riyadh” has signed a Commercial Terms Agreement with Riyad Bank and reached Financial Close on an upsized Murabaha financing facility to fund completion of the project. The SPV was established under the Riyad Real Estate Development Fund (the “Fund”), a private closed-ended real estate investment fund managed by Riyad Capital Company (“Riyad Capital”) as Fund Manager. Cenomi Centers is the sole unitholder of the Fund. As the Fund, and consequently the SPV, is consolidated within Cenomi Centers’ consolidated financial statements, the Company is making this disclosure in connection with the financing obtained by the SPV in accordance with the following details:
Date of obtaining the funding	2026-07-16 Corresponding to 1448-02-02
Financing entity	Riyad Bank.
Financing amount.	Existing SAR 1.0 billion project-related facilities were upsized by SAR 1.7 billion, bringing the total committed facilities available to the SPV to SAR 2.7 billion , together with an accordion (upsize) option of up to a further SAR 200 million , bringing the total potential facility size up to SAR 2.9 billion .
Financing duration.	9.5 years (comprising a 2-year grace period plus 7.5 years of scheduled repayment), from Financial Close. The facility carries a grace period on principal repayment covering the completion of construction and ramp-up phase of the project
Guarantees offered for the financing	The financing is secured by the customary security package for real estate project financing (including mortgage over the asset, account pledges and assignment of lease-related rights), together with a pledge by Cenomi Centers of its units in the Fund in favor of the Security Agent, given Cenomi Centers’ position as sole unitholder of the Fund under which the SPV was established. The facility is further supported by personal guarantees from Fawaz Al Hokair, Salman Al Hokair and Dr. Abdulmajeed Al Hokair, each in their personal capacity, together with corporate guarantees from Lynx Contracting Company (CJSC) and FAS Real Estate Company Limited, both of which are wholly owned by the three individuals named above. All the three individuals are substantial shareholders of Cenomi Centers, and their guarantees reflect their continued personal commitment to, and confidence in, the Company’s growth strategy and the successful delivery of the Westfield Riyadh project.
Financing objective	To fund the project’s remaining construction costs, including costs associated with a VIP lounge and a luxury retail wing forming part of a later phase of the project, as well as tenants’ fit-out support.
Related Parties	Mr. Fawaz Alhokair, Chairman of the Board, Eng. Salman Alhokair, Vice Chairman of the Board, and Dr. Abdulmajeed Alhokair are substantial shareholders of Cenomi Centers., and their wholly owned companies, Lynx Contracting Company and FAS Real Estate Company, act as guarantors of the facility. Accordingly, these guarantors are related parties of the Company under the Corporate Governance Regulations issued by the Capital Market Authority.
Additional Information	Westfield Riyadh will be Saudi Arabia’s leading retail and lifestyle destination – a landmark at the heart of the capital’s new urban expansion. Spanning 220K sqm of GLA, it will attract 24 million annual visitors, driving more than SAR 5 billion in annual retail spend upon stabilization. The project is progressing rapidly with pre-leasing exceeding 92% based on agreed Heads of Terms, signed Letters of Intent, and executed contracts. Westfield Riyadh features the Middle East’s largest 38K sqm skylight, 27-meter floor-to-ceiling heights, 30-meter-wide corridors. Its 30K sqm luxury precinct will host over 90 brands, alongside 300+ stores, 70+ flagships, and 30+ Saudi debuts. Four signature dining districts, a kid’s theme park, Saudi’s first sportainment hub, and the first digital museum create a complete lifestyle ecosystem, complemented by the first in-mall media broadcasting studio, premium grocery, high-end gym, beauty clinic, and co-working spaces. As Riyadh’s first LEED Gold-certified mall, Westfield Riyadh pioneers’ sustainability and five-star service excellence, setting a new benchmark for retail and experiential destinations in the Kingdom.