Cenomi Centers Strikes Exclusive Partnership with Unibail-Rodamco-Westfield
In a groundbreaking move, Cenomi Centers, the premier developer and operator of lifestyle centers in Saudi Arabia, has forged an exclusive strategic partnership with Unibail-Rodamco-Westfield (URW), a global retail real estate powerhouse. The agreement, signed on May 4, 2025, spans 10 years and grants Cenomi Centers the exclusive rights to operate under the prestigious Westfield brand in Saudi Arabia, with the option to extend the partnership for an additional decade.
An Insight into the Partnership with URW
In an exclusive discussion, Bruno Wehbe, President – Flagship Assets & New Ventures at Cenomi Centers, delves into the significance and long-term implications of this strategic alliance.
Unveiling the Benefits of the Collaboration
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Global Branding: Three leading malls under Cenomi Centers will bear the Westfield name, with potential expansion to include up to eight malls in the portfolio.
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Boost Revenues and Growth: Cenomi anticipates a substantial increase in GLA and non-GLA revenues, fostering new avenues for business growth.
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Tourism and Quality of Life: The partnership aligns with Vision 2030 by promoting tourism and enhancing lifestyle offerings in Saudi Arabia.
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Innovation and Differentiation: URW’s operational systems and tenant relationships will enhance the customer journey and retail mix.
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Market Positioning: The Westfield brand will solidify Cenomi’s market leadership and deliver transformative retail experiences.
Bruno Wehbe on the Partnership: “We are thrilled to launch this exclusive partnership with Unibail-Rodamco-Westfield, a global retail leader. This collaboration strengthens our position as the largest developer of lifestyle destinations in Saudi Arabia and aligns with the country’s economic objectives.”
Objectives of the Partnership
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Unlocking Growth Opportunities and Boost Revenues: Cenomi aims to increase its market share and leasing performance, supported by URW’s advertising platform.
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Expanding Consumer Reach: The Westfield brand’s appeal will attract a diverse customer base to Saudi Arabia.
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Strengthening Tenant Mix: Leveraging URW’s tenant network to bring global brands and innovative concepts to Saudi malls.
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Delivering a World-Class Customer Experience: Enhancing mall experiences through design, services, and technology.
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Enhancing Operational Efficiency and Sustainability: Implementing URW’s operational models and sustainability practices across Cenomi’s portfolio.
Duration of the Agreement: The partnership spans an initial 10 years, with the potential for a 10-year extension. It includes fixed and variable fees to URW, with opportunities for further expansion in Saudi Arabia’s retail sector.
This collaboration between Cenomi Centers and URW aims to revolutionize the retail landscape in Saudi Arabia, offering an elevated shopping experience, growth opportunities for tenants, and contributing to the Kingdom’s transformation goals.
