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.
Saudi Arabia issued alerts on Thursday warning of potential danger in Yanbu, the kingdom's Red Sea oil export hub, as Yemen's Iran-aligned Houthis continue attacks on the kingdom that have opened another front in the US-Israeli war on Iran.
Saudi Arabia and Syria signed a cooperation agreement between the two countries' defense ministries on Wednesday, Saudi state news agency SPA reported, as Yemen's Iran-aligned Houthi group continues its missile and drone attacks on the kingdom.
Ankara rejected on Wednesday what it called the "prejudiced and unfair" stance of the European Union towards fundamental rights and the judiciary in Turkey, and regarding Cyprus, contained in the bloc's report on EU membership candidates.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.
