Skip to content Skip to Search
Skip navigation

Saudi mall reopens after blaze cost $6.67m

By Shane McGinley
Creative Commons
Mall of Dhahran damaged by fire

Saudi retail operator Arabian Centres has reopened Mall of Dhahran, in the eastern province of the kingdom, and confirmed in a statement to the Saudi Exchange that the financial cost of a fire at the site last month will be roughly 25 million Saudi riyals ($6.67 million).

In the bourse statement, Arabian Centres confirmed that around 10 percent of the mall was damaged in the fire, which took place on May 13.

The company confirmed that while Mall of Dhahran had reopened its doors, some damaged areas would remain off limits, while restoration work continues “during the upcoming few weeks”.

The full financial impact of the blaze will be reported in Arabian Centres’ first quarter results in 2023, the statement said.

In February, they reported that net profit after Zakat and tax amounted to 327.2 million Saudi riyals in the first nine months to the end of 2021, a year-on-year decrease of 9 percent.

Latest articles

Pedestrians cross a road in Sharjah. The emirate is the UAE's 'manufacturing base', according to an official

UAE to open manufacturing centre of excellence in Sharjah

A manufacturing centre of excellence is to be set up in Sharjah, its backers announced on Monday. The UAE Ministry of Industry and Advanced Technology, the Sharjah Entrepreneurship Centre (known as Sheraa), the Sharjah Chamber of Commerce and Industry and Emirates Development Bank (EDB) have signed a memorandum of understanding for the project.  “Hopefully it […]

The Baladna project is intended to produce 1.7 billion litres of milk a year from 270,000 cows

Baladna lines up $3.5bn Algerian dairy venture

Baladna, the largest dairy food producer in Qatar, is exploring plans for a $3.5 billion venture in Algeria that will be based on a herd of more than a quarter of a million dairy cows. The company has signed a framework agreement with the Algerian Ministry of Agriculture and Rural Development to set up what […]

UAE Ukraine cepa Yulia Svyrydenko, Ukraine’s minister of economic development and trade, and Dr Thani bin Ahmed Al Zeyoudi, the UAE’s minister of state for foreign trade, sign the deal between the two countries

UAE prepares for ‘new era’ in Ukraine with trade deal

The UAE has finalised the terms of a trade deal with Ukraine, as the Gulf state looks to become a key player in rebuilding the country once its war with Russia is over. The comprehensive economic partnership agreement (Cepa) aims to build on the $386 million bilateral non-oil trade between the two countries last year. […]

TotalEnergies Iraq

TotalEnergies targets 2025 for first phase of Iraq projects

France’s TotalEnergies aims to complete the first phase of a solar power project and the initial phase of the associated gas project in Iraq in 2025, its chief executive Patrick Pouyanné has said. Pouyanné met with the Iraqi prime minister, Mohammed Shia Al-Sudani, on the sidelines of the World Economic Forum in Riyadh, the Iraqi […]