Vol 1 Issue 26

عربيTUESDAY NOVEMBER 26

MALL WATCH

Located on King Fahd Road between Abha and Khamis Mushait and 14 minutes away from Abha International Airport, The Point is being developed as an integrated destination for shopping, entertainment and hospitality.

The Point’s vision is to become the ‘mall of the future’ and is centred around creating a destination that goes beyond traditional retail. It will be a community hub where people come to engage in cultural, social and recreational activities. While choosing the tenant mix, preference will be given to experiential retail and focus will be on retailers that are offering some differential products and experiences to the community. Under the patronage of His Royal Highness Prince Turki bin Talal bin Abdulaziz Al Saud, Governor of Asir Region and Chairman of the Asir Development Authority the main contractor agreement for the construction works of “The Point” project was signed in partnership between the Tourism Development Fund and Red Sea Markets Real Estate Investment Company, with a value estimated at over one billion Saudi Riyals. The project will feature a range of retail stores, international and local restaurants and cafes, a cinema, as well as luxury serviced apartments managed by Hilton and the Canopy by Hilton hotel, marking Hilton’s first entry into Asir Region. The project will also include expansive green spaces, a health center, and a youth center. “The Point” is the largest multi-use tourism project in Asir Region since the adoption of the National Tourism Strategy, underscoring its significance as a premier tourism destination.

With Saudi Retail Forum scheduled for the 10th of December 2024, we are curating a special ‘Voices of retail’ series here to gauge what the retail ecosystem looks like and how it is shaping up in the Kingdom.

ENTERTAINTMENT UNDER FOCUS

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Our industry is undergoing revolution thanks to Saudi Vision 2030. By producing top-notch entertainment experiences that enhance the lives of our guests and stimulate economic growth, we at Al Othaim Entertainment are dedicated to helping realize this objective. By 2030, Al Othaim Entertainment will be a leader in the entertainment industry, redefining the boundaries of family fun. We envision a future where our entertainment destinations are synonymous with innovation, excitement, and unforgettable experiences. Our parks will be equipped with cutting-edge technology, offering immersive and interactive attractions that cater to all ages. We will continue to expand our global footprint, bringing our unique brand of entertainment to new markets. We will prioritize sustainability and social responsibility, implementing eco-friendly practices and supporting local communities.”

Mohammed Attia

CEO, Al Othaim Entertainment

GROCERY NICHE

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Over the decades, we’ve carved a niche for Aljazera Markets. Going forward, innovation beyond the ordinary will be central to our business. With our dedication to innovation, sustainability and maintaining the highest standards of excellence, Aljazera Markets plans to contribute to KSA’s broader vision outlined in the 2030 plan, while initiating its journey towards growth & expansion all-over Saudi Arabia for continuing sustained success.”

Younis Skainy

Chief Operating Officer, Aljazera Markets

The Powerhouse Speaker Lineup for SRF 2024

GUCCI opens its new store in Riyadh Park. With luxury retail becoming a talk of the town, this takes up the brand’s store count to 5+ in the Kingdom.

After operating online since 2021, with a portfolio of over 25,000 products, Baytonia has just opened its first brick and mortar store in Riyadh.

Alhussaini Trading Co. opened a new the store in the Kadi Mall in KSA. Just two weeks back the brand has opened another new store at the Lavanda Park in Abha. Al Hussaini Trading Company has more than 57 outlets across the Kingdom of Saudi Arabia located in most well-known shopping malls in the region.

Obsolescence (Noun)  
/ˌɒbsəˈlɛsns/ 

Refers to the state of being outdated or no longer in use, especially in the context of products or merchandise that have become obsolete due to technological advancements or changes in consumer preferences.

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