Revenue Streams
Leasing : Base rent and percentage rent from tenants.
Advertising : Digital signage, event sponsorships, and promotional campaigns under a pay-per-service model.
Facility Management : Pay-per-service model with common area maintenance (CAM) fees and shop-specific
services, supported by pre-selected vendors.
Market Context
Eastern Province Retail Landscape :
Occupancy : 89% in 2024, per Knight Frank, with stable rents in Dammam and surrounding areas.
Footfall : 8% growth in Q1 2024 (Cenomi Centers), with 9.125 million in Year 1, 12.775 million in Year 3 annual visitors per mall on average, applicable to the region.
Demand : Strong for experiential retail and large-format retail (e.g., hypermarkets)driven by a young demographic (70% under 30) and family oriented culture.
Competitive Advantage : The Snow Park offers a unique family attraction, while the Lulu Hypermarket appeals to shoppers, differentiating from traditional outlets in nearby malls like Al Ahsa Mall.
Challenges : Economic risks, budget deficit impacting spending.
