Arabian Centers Co. Announces the Development of its First Integrated Complexes on its 1.6 million sqm Land in Qassim under the name “Jouri Project”

Arabian Centers Co. Announces the Development of its First Integrated Complexes on its 1.6 million sqm Land in Qassim under the name “Jouri Project”

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|Announcement Detail|| Arabian Centres Co. is pleased to announce the commencement of its infrastructure development works at its freehold plot in Al-Jazirah neighborhood of Buraidah city in Al-Qassim, under the name “Jouri project”. The plot has a total area of 1.6 million square meters and will include a fully integrated mix-use complex on an area of 1.2 million square meters, adjacent to the iconic mall “Qassim U Walk” that is being currently developed on an area of 400 thousand square meters. “Qassim U Walk” will offer a unique modern design blending indoor and outdoor spaces overlooking water features, while dedicating approximately half of the mall’s mix to entertainment facilities like cineplexes, casual dining in restaurants and cafes, beside the retail area.

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The Company will develop the Jouri project as a first of its kind integrated mix-use complex in the region aiming to match the utmost modern lifestyles, which makes it a unique model for the mix-use projects in Qassim region. The project will house a large park measuring 148.4 thousand square meters, pedestrian footpaths, bicycle lanes, outdoor sports facilities, and other distinctive green spaces.

The Company estimates net proceeds from sale of the residential plots of approximately SAR 750 Million upon