An agreement was signed last week between the real estate development company Dar Al Arkan and the investment and real estate development company Al Othaim. The agreement is a 15 year lease for a 10,963 square meter space in the Alqasr Mall which was developed by Dar Al Arkan in Riyadh City, Saudi Arabia. Al Othaim is planning to create an amusement park in the space called Safari Land.
Representing Dar Al Arkan was Chairman Yousef Al-Shalash; and CEO Mr. Fahad Abdullah Alothaim of Al Othaim signed the agreement.
World Class Amusement on the Way
Mr. Al-Shalash was happy with the agreement, expressing his appreciation of the expertise in amusement park development that Al Othaim is known for. He expressed his confidence that Al Othaim will create the most modern and innovative games in the leased space, providing world class amusement for visitors.
"Signing this agreement with Al Othaim company, which stands as a major amusement provider, underlies Dar Al Arkan efforts to attract large companies to invest in Alqasr Mall, serve the inhabitants of Alqasr project and adjacent districts, and boost the ambitions of shoppers and visitors," said Al-Shalash.
"Thanks to Allah, we have accomplished the lease of more than 75% of the Mall leasable area in the shortest period of time. We have appealed to big commercial names in different businesses and signed a series of quality value-added agreements with major companies and world brand agents. This reflects Alqasr Mall features of attraction which constitute of success incentives for value-added investment perceived by our partner lessees," he added.
Snow Village Theme Park
Included in the development plans, explained Mr. Al-Shalash is the creation of the first indoor snow village of its kind in Riyadh City. The hope is that such a unique attraction will bring people to visit the mall. Also planned is a first-of-its-kind theme park which visitors will find entertaining and fun, according to Al-Shalash.
Great Shopping, Too
Shopping at the mall is also being planned as a great pastime as Mr. Al-Shalash further explained: "Alqasr Mall embracement of major companies and renowned world and local brands makes it a desirable place for shoppers."
Dar Al Arkan is the largest developer of real estate in Saudi Arabia. There are now a series of major projects under development in the Kingdom, including AlTilal in Medina, Shams Alriyadh and the Alqasr Mall in Riyadh, and Qasr Khozam and Shams Alarous in Jeddah.