Saudi Arabia’s shopping mall sector is on an upward trajectory, bolstered by evolving consumer preferences and the ambitious Vision 2030 initiative, which aims to transform the Kingdom into a global business and tourism hub.
This growth reflects a shift in consumer behavior © Mena Today
Saudi Arabia’s shopping mall sector is on an upward trajectory, bolstered by evolving consumer preferences and the ambitious Vision 2030 initiative, which aims to transform the Kingdom into a global business and tourism hub.
According to real estate consultancy Knight Frank, Riyadh is at the forefront of this retail evolution. The capital saw a 4 percent increase in mall rental prices over the past year, with average rents climbing to SR2,848 ($765) per square meter by the end of March.
Mall occupancy in Riyadh also surged to 92 percent in Q1 2025, a 5 percent rise from the previous year. In line with these trends, approximately 2.2 million square meters of new retail space is planned across the Kingdom by 2030.
This growth reflects a shift in consumer behavior. Shoppers are increasingly drawn to malls not just for retail but for the broader “retailtainment” experience—a blend of shopping, dining, and entertainment that transforms malls into social and cultural centers.
As Vision 2030 continues to guide development efforts, shopping malls are expected to be a key pillar in shaping Saudi Arabia’s economic diversification and social modernization efforts.
U.S. President Donald Trump said talks with Iran will happen on Monday but declined to set a deadline for an agreement after earlier saying he had called off an imminent attack in hopes of quickly reaching a deal to reopen the Strait of Hormuz and resolve the impasse over Tehran's nuclear capabilities.
Saudi Arabia, Russia and five other OPEC+ members meeting online Sunday agreed to raise oil production quotas for September, even as war rages across the Middle East.
President Donald Trump said late on Saturday the U.S. would hold off on a fresh attack on Iran as long as a deal could be reached quickly to halt Iran's nuclear ambitions and reopen the Strait of Hormuz.
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