Riyadh – MENA Herald: Arabian Centres, the largest developer, owner and operator of shopping malls in Saudi Arabia, announced today an initiative that enables homegrown boutique brands to set-up operations in Arabian Centres’ portfolio of 18 shopping centres in the kingdom.
The programme which starts from few weeks is aimed at supporting young entrepreneurs and new retail brands based in Saudi Arabia. The initiative will commence in August this year and attract new retail and food concepts and young entrepreneurs, who will gain exposure to a wider target audience, and test their products and services whilst supporting the launch of new brands and concepts in the kingdom’s exciting retail market.
To eliminate the entry barriers, Arabian Centres will support boutique merchants in the process of the design and manufacturing of their own mall kiosk where needed or provide retail equipment in the form of retails carts for the launch of the brand.
The initiative is aligned with Arabian Centres’ strategy of transforming the modern retail sector in the kingdom whilst encouraging high impact retail entrepreneurs to contribute towards innovation in modern retail. By catering to the emerging needs of consumers, Arabian Centres has ambitious plans to further support and develop home grown Saudi brands.
Commenting on the launch of the initiative, Khalid Al Jasser, Chief Executive Officer of Arabian Centres, said: “Arabian Centres properties have evolved to become destinations of choice not only for consumers but also for retailers. We take great pride in launching this initiative which is well suited to enable innovative Saudi brands and young entrepreneurs flourish in the marketplace. We are confident that small retailers will take advantage of this unique opportunity at a time when the kingdom’s retail sector is on the cusp of transformation.”
The launch of this leasing programme coincides with strong growth opportunities for retail sector in kingdom, underpinned by urban and youth population, increasing employment and high disposable income combined with the government’s focus on diversifying the economy.