‎Arabian Centers announces start of Jouri project in Al Qassim

‎Arabian Centers announces start of Jouri project in Al Qassim

Arabian Centres Co. (ACC) announced the start of infrastructure development at its freehold plot in Al-Jazirah neighborhood of Buraidah, Al Qassim, under the name Jouri project.

In a statement to Tadawul, ACC said the plot spans a total area of 1.6 million square meters (sqm) and will include a fully integrated mix-use complex spread over 1.2 million sqm.

The Jouri project is adjacent to Qassim U Walk mall that is currently being developed on an area of 400,000 sqm.

Qassim U Walk will offer a unique modern design that will blend indoor and outdoor spaces overlooking water features. The half of mall mix will be dedicated to entertainment facilities like cineplexes and casual dining, beside the retail area.

ACC will develop the Jouri project as a first-of-its-kind integrated mix-use complex in the region, aiming to match the modern lifestyles. The project includes a large park spread over 148,400 sqm, pedestrian footpaths, bicycle lanes, outdoor sports facilities, and other distinctive green spaces.

The mall developer estimates SAR 750 million as net proceeds from sale of the residential plots, following the sale of all developed plots.

The positive impact is expected on ACC’s financial statements during the first half of 2023. The project development costs will be financed