Arabian Centres awards contract to build new mall in Saudi Arabia

$68.5mln contract awarded to Lynx Contracting Company for the construction of a new shopping centre in Madinah

  
Arabian Centres, Saudi Arabia's biggest owner and operator of shopping malls, plans to float on the Saudi stock exchange.

Arabian Centres, Saudi Arabia's biggest owner and operator of shopping malls, plans to float on the Saudi stock exchange.

Arabian Centres / Handout via Zawya
Arabian Centres Company, a leading owner, developer and operator of lifestyle shopping centres in Saudi Arabia, has awarded a SR257.3 million ($68.5 million) contract to Lynx Contracting Company for the construction of a new shopping centre in Madinah.
 
The project, Madina Walk, will be the second addition to ACC's portfolio of shopping centres in the city, and is set to add about 57,000 sq m to its gross leasable areas (GLA), said ACC in its filing to the Saudi bourse Tadawul.
 
The retail pioneer said in addition to the construction and development of the commercial centre, Lynx Contracting will be responsible for site preparation, excavation, backfilling and land leveling works.
 
Work on the project will start soon and is likely to be completed in 14 months, it added.-TradeArabia News Service

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