Saudi Arabia’s Royal Commission in Yanbu, has signed an agreement with UAE based retailer LuLu Group to jointly develop a shopping mall project in the Yanbu City.
Yanbu City is located around 320km from Jeddah in Western region of Saudi Arabia.
The value of the agreement is SAR 300 million.
The project will be constructed on a total area of about 40,814 square meters in Al-Fahd neighborhood in Yanbu Al-Sinaiyah.
The agreement was signed virtually by Eng. Adnan Bin Ayesh Alwani, CEO, Royal Commission – Yanbu, KSA and Yusuff Ali MA, chairman of LuLu Group with Eng. Zaidan Yusuf – GM-investment and development, Royal Commission – Yanbu, Shehim Mohammed – director, LuLu Saudi Hypermarkets, Rafeek Mohamed Ali – regional director, Western Province, LuLu Saudi and other officials attending.
As per the agreement, LuLu Group along with Royal Commission will jointly establish and operate a commercial center under LuLu brand.
Apart from LuLu Hypermarket and other prominent brands, the presence of world’s biggest cinema operator AMC will add more value in this this project.
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So good
Who is the main contractor?