Leasing Strategy
The mall’s tenant mix leverages the Snow Park, Lulu Hypermarket,
Food hall, and parking lot services as anchors, appealing to families,
daily shoppers, dining visitors, and car enthusiasts. Introductory rents
remain deliberately soft—SAR 1 000 / sqm for Lulu and
Snow Park, SAR 1 500 / sqm for fashion and specialty shells, 40-60
percent below provincial norms—because velocity of lease-up is worth
more than headline rate. From Year 3 the escalator disappears and instead
each tenant shares a slice of its profit: seven percent
from the Snow Park, two percent from Lulu, five percent from the outlets.
Rent-free periods are short and surgical: six months for the two anchors,
three months for first-wave retailers. Niche and seasonal concepts will be
courted with one- or two-year popup licences—quick to exit if sale
disappoint and quick to rotate if trends change.