How Are Cenomi Malls Performing Across Saudi Arabia?

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00:00OK, let's talk about occupancy numbers. What are they doing at the moment? How are your malls performing?

00:06So occupancy has remained relatively stable this year at around 92 percent on average.

00:12Our average occupancy is higher this year than last year.

00:15So that's also contributing to better tenant sales, better footfall, as well as the revenue increases.

00:21OK, so there are obviously lots of malls across the region, lots of malls in Saudi Arabia.

00:27What differentiates a Chinomi mall from from another one?

00:32If I speak from a B2B angle, our malls on average compared to our competitors, we have higher occupancy and we have higher leasing rates.

00:43OK, if I compare them also to my competitors, but through a B2C lens, we again have higher occupancy,

00:51which leads to better customer visits, higher, higher traffic, higher turnover.

00:58We just we just perform better. We have a dominant position.

01:01Fortunately, we're in 10 different cities across the kingdom and we touch about 80 percent of the population.

01:07So we're a fantastic bellwether for retailers and we have really strong retail partnerships.

01:12And I think that shows through in the tenant mix that we provide.

01:15We'll see you next time.