Cenomi Centers, a Saudi-listed company, has successfully sold Sahara Plaza mall for $53 million.

Cenomi Centers, a major player in shopping mall ownership, operation, and development in Saudi Arabia, has completed the sale of Sahara Plaza as part of its non-core asset sale initiative. The 12,540 sqm shopping center, situated in Riyadh’s King Fahd district, was sold for SAR 200 million ($53.33 million), according to a statement by the Saudi-listed company. This transaction marks the fourth asset sale, with the overall strategy aiming to generate nearly SAR 2 billion upon completion. Sahara Plaza, operational since 2002, represented the first among Cenomi Centers’ 22 operating assets. The company clarified that, being a single-tenant department store, the asset no longer aligns with its strategic direction.

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Ahmed Elbatrawy, who leads the Arab MLS platform, aims to simplify property transactions in the Middle East, paving the way for unprecedented global investment opportunities.

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