Arabian Centres Company (ACC), the Saudi mall operator, is expecting an improvement in the business in the wake of the easing of Covid pandemic restrictions in the kingdom.
The Gulf state announced relaxation in restrictions across the kingdom , allowing commercial outlets to resume operations to full capacity.
Wearing masks and social distancing outdoors are no longer mandatory, while public venues, such as restaurants, cinemas, sports stadiums and other related facilities, are also allowed to operate at full capacity for fully vaccinated individuals.
In a statement to the Saudi Stock Exchange (Tadawul), ACC said all its commercial centers will now operate at full capacity, following the updated guidelines. However, it maintained that the shopping centers will allow entry only to visitors who have received two doses of the COVID-19 vaccine.
“[The easing of restrictions] will contribute [to] increasing the number of visitors to the company’s commercial centers, which will positively affect their occupancy rates,” ACC said.
“ACC will continue to operate in accordance with the updated government guidelines regarding practice in the areas of public health and safety,” the company said.
The company has 21 commercial centers and complexes in its portfolio. The properties, which have a total gross leasable area of 1.2 million square meters, are located in ten cities across Saudi Arabia.