Saudi NHC and Arabian Centres sign agreement of $160m to establish Murcia Mall

Saudi NHC and Arabian Centres sign agreement of $160m to establish Murcia Mall

Arabian Centres announced in a statement that, the National Housing Company (NHC) signed an agreement with Arabian Centres Company for the development and operation of a full-service commercial mall for the landmark “Murcia” project, located in the north of Riyadh.

The agreement was signed at the “Murcia” interactive centre by His Excellency Eng Mohammad Bin Saleh Al-Bati, CEO, NHC, and Mr. Mohamad Mourad, managing director, Arabian Centres.

The Murcia project is the first of its kind in the Kingdom’s real estate development sector. The new mall will cover an area of approximately 180,000 square meters and house 150 outlets, including retail stores, restaurants, cinemas and entertainment, with in excess of 3,500 parking spaces to meet the needs of the entire community.

The mall also includes both closed and open spaces, greenspaces and water fountains to provide a complete lifestyle destination of the residents of the Murcia development.

The total cost of the project is SAR 600,000 million, of which SAR260,000 million is dedicated building development costs.

Murcia is one of a series of quality housing projects developed by “National Housing” in Riyadh, and it extends over a total area of 2.7 million square meters. The project includes more than 5,000 homes and 570 apartments and