Arabian Centres Company, a Saudi Arabia-based owner and operator of shopping malls in the Kingdom, has announced the soft opening of Nakheel Mall Extension (Phase One) in Riyadh, bringing online 16,000sqm of additional GLA.

The expansion work has been done on leased land, at an investment of $68 million, the developer said in its filing to Tadawul, the Saudi bourse.

The extension includes 73 commercial outlets that will host the most luxurious international and local restaurant, café, fashion and cosmetics brands, in addition to a large cineplex with 13 screens.

The cineplex, which is spread over a 5,000sqm, has been officially opened. The 1,520-seat facility features the latest technology and will offer an innovative movie experience for the viewers.

The financial impact of the project will appear from the third fiscal quarter ending December 31, the statement added.