Saudi mall operator Arabian Centres awards $70m contract to build Madinah Walk

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Updated 28 April 2021
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Saudi mall operator Arabian Centres awards $70m contract to build Madinah Walk

  • It is part of a wider push to tap retail opportunities from Madinah’s growing population

DUBAI: Saudi mall operator Arabian Centres has awarded a SR257.3 million ($70 million) contract to start construction of Madinah Walk.
Lynx Contracting Company was awarded the main contract, the mall operator said in a filing on Wednesday.
Only the second project of Arabian Centres in Madinah, the new destination will add 57,000 square meters of gross leasable area.
It is part of a wider push to tap retail opportunities from Madinah’s growing population, as well as capitalizing on the gradual return of pilgrim traffic in the province.
Arabian Centres said it was also part of its strategy of seizing opportunities and prime locations in areas where there is still an elevated demand for modern lifestyle destinations such as outdoor shopping centers.

The company has approved 7.5 percent cash dividend – at SR0.75 per share – for the second half of the fiscal year ended March 31 this year.

It will distribute around SR 356.3 million.

Saudi Arabia has seen massive developments in its entertainment scene in recent months, as part of the Kingdom’s push to modernize the economy.

 


King Abdulaziz Airport among world’s busiest after record-breaking 2025

Updated 02 January 2026
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King Abdulaziz Airport among world’s busiest after record-breaking 2025

RIYADH: King Abdulaziz International Airport has achieved a new historical milestone, reaching 53.4 million passengers in a single year.

This is the highest number ever recorded at a Saudi airport since the beginning of air travel in the Kingdom, placing it among the world’s mega airports in terms of passenger traffic, according to the Saudi Press Agency.

The airport handled a total of 310,000 flights and 60.4 million bags, representing a 12 percent increase compared to 2024. It also handled 9.57 million Zamzam water containers and 2,968 cargo flights. 

This achievement reflects the airport’s qualitative transformation and its position as a regional hub and national gateway connecting the Kingdom to the world. It also highlights its role in facilitating the movement of visitors and pilgrims, promoting tourism in line with the goals of Vision 2030, diversifying the economy, and providing a distinguished travel experience. 

For his part, CEO of Jeddah Airports Co. Mazen Johar, affirmed that reaching 53.4 million passengers confirms the airport’s high operational readiness and represents a pivotal milestone for moving to the next phase, in preparation for doubling this number, God willing, in the coming years. 

He pointed out that this national achievement would not have been possible without the grace of God Almighty, followed by the directives of the wise leadership and the continuous follow-up from the minister of transport and logistics, the president of the General Authority of Civil Aviation, and the CEO of Airports Holding Co. 

He explained that King Abdulaziz International Airport is strengthening its position as a major aviation hub in the region through expansions, increased capacity, and improved services, supporting the objectives of the aviation program and aligning with the goals of the Kingdom’s Vision 2030. 

The CEO of Jeddah Airports Co. expressed his gratitude to the partners in success from various government and private sectors for their fruitful cooperation through a collaborative work system that contributed to providing the best services.