PHOTO
Cenomi Centers, Saudi Arabia’s largest owner, operator and developer of shopping malls, published its financial results for the three months ended 31 March 2025. Image courtesy: Cenomi Centers
Riyadh - SIMAH Rating Agency (Tassnief) has assigned a long-term national scale entity rating of (A-) and a short-term entity rating of ‘T-3’ to Arabian Centres Company (Cenomi Centers).
The assigned ratings reflect low credit risk, reflecting Cenomi Centers’ leading market position, satisfactory business diversity, and strong operating performance, according to a bourse disclosure.
They also highlighted a favorable operating environment, which is expected to back operating performance over the rating horizon.
Cenomi Centers has a leading market share of nearly 18% in gross leasable area (GLA), three times that of its nearest competitor, highlighting its advantage and operational depth in a fragmented market.
In the first quarter (Q1) of 2025, Cenomi Centers generated 19.98% higher net profit at SAR 222.70 million, compared to SAR 185.60 million in Q1-24.
All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (Syndigate.info).
