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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.

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