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FINANCIAL NEWS
Saudi Red Sea Mall launched work on USD53.3m expansion
30 Aug 2015
(MENAFN) Jeddah’s biggest shopping center, The Red Sea Mall, announced that it is starting its largest expansion project with a value of USD53.3 million, allocated to expand buildings and to develop services.
It is expected to cover an area of 145,000 square meters, which will contain 30,000 sq m of gross leasable area including a 4,000 sq m outdoor shopping area that will include restaurants and international brands.
The new expansion will also increase the number of parking spaces to 1,400. The project is expected to be finished within 18-24 months, chairman of the Red Sea Mall Markets Co Ltd said.
“The expansion will add even more international brands and entertainment facilities, and underscores our unwavering commitment to enhancing the Red Sea Mall experience,” he said.
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