Saudi Downtown, a PIF company within the Urban Development & Livability ecosystem, has announced the signing of a Promise to Lease Agreement and a Development Services Agreement for the retail center in Al Madinah Downtown project with Cenomi Centers, the Kingdom’s leading developer and operator of modern lifestyle destinations.
The Promise to Lease Agreement covers the leasing and operation of the retail complex for a period of 25 years, starting from the handover of the asset. This destination will become Cenomi Centers’ largest mall in Al Madinah Province. It is expected to boost economic activity, enhance quality of life, and create job opportunities across the region, while setting new standards for retail and lifestyle experiences in the city.
Cenomi Centers is the leading owner, operator, and developer of contemporary lifestyle centers in Saudi Arabia. For over two decades, the company has offered a full portfolio of high‑quality destinations built to international standards, strategically located across the country to meet customer needs and evolving market demands.
Saudi Downtown, a PIF company within the Urban Development & Livability ecosystem, develops and builds vibrant urban destinations and mixed‑use centers that generate sustainable economic and social value across cities in the Kingdom. The company’s projects are designed to stimulate local economic activity, enhance quality of life, and expand the range of choices across multiple sectors, including retail, entertainment, hospitality, tourism, office spaces, and residential offerings.
