Latest news with #WestfieldRise
Argaam
05-05-2025
- Business
- Argaam
Cenomi to kick off tie-up with Westfield with 3 malls in early 2026: Official
Bruno Wahba, Chief Operating Officer at Arabian Centres Co. (Cenomi Centers), said that the partnership with Westfield will begin with launching three malls in early 2026, namely Jewel of Riyadh, Jewel of Jeddah, and Nakheel Mall in Dammam. He told Al Arabiya TV that the partnership with Westfield includes launching the Westfield brand across up to eight Cenomi Centers malls. Wahba also stated that the partnership also includes Cenomi's access to Westfield's tenant network, enabling it to bring in new global brands and provide full support across all value chain functions. Furthermore, Cenomi will leverage the partnership by increasing the leasable area in addition to other revenues, enhancing visitor experience to align with the leading global experience, and accessing the global advertising platform Westfield Rise, where major global companies and brands display their advertisements in malls, he added. According to Argaam 's data, Cenomi Centers signed today an exclusive 10-year strategic partnership and franchising agreement with Unibail-Rodamco-Westfield (URW), with an option to extend the agreement for an additional decade. Under the partnership, Cenomi will be granted exclusive licensing rights to the Westfield brand in Saudi Arabia.
Fashion United
28-04-2025
- Business
- Fashion United
URW reports tenant sales uptick in Q1 amid expansions and restructuring
Shopping centre giant Unibail-Rodamco-Westfield (URW) has welcomed a 'robust' first quarter for 2025, as sales and footfall increased amid wider expansion plans and a restructuring strategy. Over the period, the company's proportionate turnover came to 943.3 million euros remaining largely flat compared to the same quarter of 2024. Tenant sales levels, meanwhile, saw more change, increasing 2.1 percent, while footfall rose 0.4 percent, despite 'the number of adverse calendar effects'. Tenant sales were the strongest in the US, where flagships reported a 3.4 percent uptick. This was followed by Northern Europe, at a 2.8 percent increase, and Southern Europe, at a 2.3 percent increase. Eastern Europe, meanwhile, saw sales decrease 0.3 percent. The quarter was particularly busy for URW, which most recently opened its newest flagship asset, Westfield Hamburg-Überseequartier, and had expanded its Westfield Rise concept to the US, where it looks to generate more revenue through its in-house retail media and experiential division. In April, the company also revealed a change to its organisational structure. Its Northern European business is to be combined under one umbrella, and led by a new chief operating officer based in London. This, alongside other developments, has made URW confident to confirm its full year earnings guidance for 2025 of 9.30 to 9.50 euros per share, chief executive officer, Jean-Marie Tritant, said in a filing. The statement continued: 'Thanks to our unrivalled portfolio of the best assets in the best locations and our highly diversified tenant base, we are confident in the resilience, growth potential, and long-term trajectory of our business. We look forward to sharing our plans in more detail at our Investor Day on May 14.'
