Leasing

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.