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Triple Five eyes 'world's largest' shopping and entertainment complex in Saudi deal
POSTED 11 Nov 2019 . BY Andy Knaggs
The agreement between Al Akaria Saudi Real Estate Company and Arabian Dream will see the development of a US$5bn shopping and entertainment complex near Riyadh Credit: Al Akaria Saudi Real Estate Company
Arabian Dream Saudi Arabia, a subsidiary of Triple Five Worldwide, which owns the three largest shopping and entertainment centres in North America, is to help develop what is being described as the world's largest such complex in Riyadh, Saudi Arabia.

Situated within seven million square metres (23 million square feet) at the Al-Wedyan site, which is owned by the Al Akaria Saudi Real Estate Company, the US$5bn (€4.5bn, £3.87bn) project will include amusement and water parks, sports and leisure facilities and shopping and dining locations. It will also be equipped with AI technology to enhance the visitor experience.

The first phase of the project is due to launch in the first half of 2020.

Kelvin Kwok, CEO of Saudi Real Estate Company, commented: "Al-Wedyan is the largest real estate development in the Al Akaria portfolio, and our collaboration with Arabian Dream in a world-class project such as the new shopping and entertainment destination will add value to residents, visitors and tourists."

Triple Five Worldwide owns Mall of America and American Dream in the US, and West Edmonton Mall in Canada, which at 5.3 million square feet (1.6 million square metres) is currently the largest shopping and entertainment complex in the world. Its attractions include an indoor amusement park, rollercoaster, lake, and permanent bungee tower, as well as more than 800 stores, and 100 dining venues.

Jason Lucas, vice president of Triple Five and CEO of Arabian Dream, said the Al-Wedyan complex would have "many elements from other successful tourism destinations". He added: "In this global destination, guests will feel in a safe indoor environment in one place under one roof."
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Jobs   News   Products   Magazine
NEWS
Triple Five eyes 'world's largest' shopping and entertainment complex in Saudi deal
POSTED 11 Nov 2019 . BY Andy Knaggs
The agreement between Al Akaria Saudi Real Estate Company and Arabian Dream will see the development of a US$5bn shopping and entertainment complex near Riyadh Credit: Al Akaria Saudi Real Estate Company
Arabian Dream Saudi Arabia, a subsidiary of Triple Five Worldwide, which owns the three largest shopping and entertainment centres in North America, is to help develop what is being described as the world's largest such complex in Riyadh, Saudi Arabia.

Situated within seven million square metres (23 million square feet) at the Al-Wedyan site, which is owned by the Al Akaria Saudi Real Estate Company, the US$5bn (€4.5bn, £3.87bn) project will include amusement and water parks, sports and leisure facilities and shopping and dining locations. It will also be equipped with AI technology to enhance the visitor experience.

The first phase of the project is due to launch in the first half of 2020.

Kelvin Kwok, CEO of Saudi Real Estate Company, commented: "Al-Wedyan is the largest real estate development in the Al Akaria portfolio, and our collaboration with Arabian Dream in a world-class project such as the new shopping and entertainment destination will add value to residents, visitors and tourists."

Triple Five Worldwide owns Mall of America and American Dream in the US, and West Edmonton Mall in Canada, which at 5.3 million square feet (1.6 million square metres) is currently the largest shopping and entertainment complex in the world. Its attractions include an indoor amusement park, rollercoaster, lake, and permanent bungee tower, as well as more than 800 stores, and 100 dining venues.

Jason Lucas, vice president of Triple Five and CEO of Arabian Dream, said the Al-Wedyan complex would have "many elements from other successful tourism destinations". He added: "In this global destination, guests will feel in a safe indoor environment in one place under one roof."
RELATED STORIES
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International developer Triple Five has moved a step closer to realising its vision of creating North America’s largest mega-mall after submitting a planning document to Miami-Dade County.
MORE NEWS
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The hospitality and attractions sectors will benefit from a temporary cut to VAT as part of stimulus measures announced by chancellor Rishi Sunak.
Eureka! reveals new designs for Eureka! Mersey – construction to begin in 2021
New concept designs and visuals have been released for the Eureka! Mersey project – a £11.75m children's visitor attraction being developed in Liverpool, UK.
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Global wellbeing organisation, Therme Group, has confirmed its 28-acre wellbeing project in the UK is on track to begin construction.
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COMPANY PROFILES
Alterface

Alterface’s Creative Division team is seasoned in concept and ride development, as well as storyte [more...]
Clip 'n Climb

Clip ‘n Climb currently offers facility owners and investors more than 40 colourful and unique Cha [more...]
Holovis

Holovis is a privately owned company established in 2004 by CEO Stuart Hetherington. [more...]
WhiteWater

WhiteWater was born in 1980 to create places where families unite and make joyful lasting memories [more...]
+ More profiles  
VIDEO GALLERY

Polin Waterparks & Pool Systems - Experience the experience
Have you ever wondered how the fun is created? Polin Waterparks is a global market leader in the design, manufacture and installation of waterparks and water play attractions. Find out more...
More videos:
Introducing AnimaChat! – Animalive
+ More videos  

CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

08 Oct 2020

VAC 2020 (The Annual National Conference of Visitor Attractions)

Queen Elizabeth II Conference Centre, London, United Kingdom
17-23 Oct 2020

World Leisure Congress 2020

Pinggu, Beijing, China
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2020

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