Arabian Centres Company (‘Arabian Centres' or ‘the Company') announced on Wednesday 20 April 2022 the signing of a Management and Operation Agreement for Marina Mall Jubail, a newly developed mall at Dareen International Marina project in the city of Industrial Jubail. This two floors mall, with a built-up area of 93 thousand square meters, will bring online c.30 thousand square meters of additional GLA to the Company's growing portfolio. Furthermore, the mall has been designed to cope up with the utmost modern lifestyle patterns; where 65% of the mall's GLA has been allocated to entertainment (cinema & gaming), food & beverage, and services categories.

While the remaining 35% has been allocated to fashion and beauty. The Company is currently working on hosting world-class range of brands specialized in these categories under the roof of this upcoming lifestyle destination. Marina Mall Jubail, located in Jubail Industrial city, is part of Dareen International Marina project which has been developed by ‘Alghanim International Company' under the supervision of the Royal Commission of Jubail and Yanbu.

The project is considered as a modern integrated mixed-use project surrounding the Dareen International Marina Basin with the capacity of 306 yacht berths. It also includes residential and commercial plots, hotel facilities, and an extensive marina walk surrounding the marina basin. Dareen International Marina is considered as an extension of the waterfront in Jubail Industrial City and represents a major tourist dimension at the Gulf region level, as the second marina in the governorate.

It is worth noting that the Company's Management continues to view management and operating agreements, such as this one, as an important mean of developing the Company's pioneering asset-light model. This model enables the Company to continue expanding its operational presence across the Kingdom of Saudi Arabia while optimizing costs and maintaining the financial flexibility to scale operations and quickly launch new locations. As the Company continues to develop a replicable plug-and-play model for operating and managing shopping centres, it enhances its ability to mitigate against business risks.