Exclusive: Cenomi Centers’ Alison Rehill-Erguven Talks About Big Changes in Shopping in Saudi Arabia
This story was published in our April 2025 issue, which includes the Top 100 Most Influential Real Estate Leaders.
Picture a huge shopping center the size of 104,000 square meters, with more than 300 stores, a luxury area, over 10 brands new to Saudi Arabia, and more than 50 flagship stores. This is Jawharat Jeddah, a major project by Cenomi Centers, expected to open in Jeddah in December 2025. It will be Saudi Arabia’s first Gold LEED-certified mall, with three dining areas and entertainment zones. “There’s nothing like this in the kingdom right now,” says Alison Rehill-Erguven, CEO of Cenomi Centers. “We’ll be the first to bring it.”
Rehill-Erguven made history in 2022 when she became the first foreign woman to lead a public company in Saudi Arabia. Since then, Cenomi Centers has grown a lot. In 2024, their revenue rose by 4% to $625 million. Even though their net profit dropped by 18.4% to $326 million, more people visited their malls—131.9 million visitors, up 6.3%. Their spaces were also 94.4% full, which is a high occupancy rate.
As of March 2025, Cenomi Centers owns 22 properties in 10 big cities in Saudi Arabia, with around 4,500 stores. Some of their main malls include Mall of Arabia in Jeddah, Nakheel Mall in Riyadh, and Nakheel Mall in Dammam. “More people are coming to our malls, and our sales and revenue are growing. We’re getting stronger,” says Rehill-Erguven. The company also added nearly 400 new brands in 2024, including high-end names like Lululemon, Charlotte Tilbury, and Cerruti 1881. The CEO also teased that a brand never seen before in the Middle East will launch at both Jawharat Jeddah and Jawharat Riyadh.
Jawharat Jeddah is one of three major new malls being built by Cenomi Centers. The other two are in Riyadh and Al Khobar, set to open in 2026 and 2028. Jawharat Jeddah aims to attract more than 15 million visitors every year, while Jawharat Riyadh expects over 20 million. Both malls are expected to become top shopping destinations in their cities.
These projects are part of Cenomi Centers’ plan to expand, with six more projects in progress and 600,000 square meters of leasable space expected by 2028, a 44% increase from 2024. This growth matches Saudi Arabia’s rapid urban development under Vision 2030, with a large and growing consumer market. In 2023, Saudi Arabia had over five million households, the largest consumer base in the GCC, creating many opportunities for retail innovation.
Cenomi Centers, originally founded in 2002 as Arabian Centres, is Saudi Arabia’s biggest owner and operator of shopping centers. In 2022, the company changed its name to Cenomi Centers as part of a rebranding under the Fawaz Alhokair Group. The company still trades as Arabian Centres on the Saudi Exchange.
In addition to expanding physically, Cenomi Centers is undergoing a digital transformation, led by Rehill-Erguven. This includes using AI, smart mall technologies, and a new loyalty program. In late 2025, the company plans to launch Saudi Arabia’s first co-branded credit card with Visa, allowing customers to redeem loyalty points instantly.
These digital tools are designed to keep malls engaging in a world where online shopping is growing. AI will also help retailers improve store layouts, customer targeting, and efficiency. Christophe Caïs, CEO of CXG, points out that apps like Mall of Arabia’s mobile app help customers navigate and improve their shopping experience.
Rehill-Erguven’s career has been shaped by her global experience in retail real estate. After starting in the fashion industry, she moved into retail real estate and worked at top companies worldwide. She became Cenomi Centers’ CEO in 2022, making her the first foreign female CEO of a public company in Saudi Arabia. Her focus has been on learning about the business and improving its operations.
Leading the company through a time of change, Rehill-Erguven has faced the challenge of balancing rapid growth with stability. Her strategic use of data has helped increase foot traffic, occupancy rates, and innovation.
A 2024 study shows that most Saudi consumers prefer to shop online at least partly, with high internet and mobile usage rates. Cenomi Centers has responded by adjusting its mall spaces, shifting from 70% retail to 60% retail and 40% focused on food, entertainment, and leisure. This change meets the growing demand for experiences over just shopping.
As the retail landscape shifts, malls are becoming more than just shopping centers. They are transforming into community hubs with a mix of shopping, entertainment, and technology. Rehill-Erguven sees malls of the future as spaces that combine online and offline experiences, making every visit easy and enjoyable. Looking ahead, Cenomi Centers plans more expansion and innovation to meet the needs of the next generation of shoppers.
Published: 19th April 2025
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