Riyadh – Sharikat Mubasher: Saudi Downtown Company announced the signing of two agreements with Cenomi Centers covering the development of a retail complex within the Al Khobar Downtown Project. As per a recent press release, the partnership includes a promise-to-lease agreement and a development agreement for a retail center that will form a key component of the Al Khobar Downtown project.

The agreements mark the first major collaboration announced by Saudi Downtown Company and signal the start of a broader pipeline of partnerships the company plans to launch across multiple cities in the Kingdom.

According to the announcement, the partnership aims to develop a major urban destination in Al Khobar built to global standards, positioning the project as a new commercial and lifestyle hub in the city. The retail complex is expected to host a mix of shopping, dining, and entertainment offerings designed to attract residents and visitors.

In addition, the collaboration aims to boost the local economy, enhance quality of life, and generate new job opportunities through the development of modern urban destinations that combine commercial activity with lifestyle and leisure experiences.

Saudi Downtown Company is currently developing several downtown projects across the Kingdom, with the Al Khobar Downtown project positioned as one of the flagship developments designed to create vibrant mixed-use districts that attract investment and support urban growth.