en.Wedoany.com Reported - Saudi developer Arabian Centers Company (Cenomi Centers) has awarded a $342 million design and construction contract to Lynx Contracting Company for the development of a high-end retail and boulevard project in Al Khobar, Eastern Province.

The project, named Al Khobar Downtown Mall and Boulevard, will further strengthen Cenomi Centers' flagship asset portfolio across Saudi Arabia upon completion. The company stated that the entire project will be completed within three years.

In a filing to the Saudi Stock Exchange (Tadawul), Cenomi Centers said the project aligns with its strategy to develop modern, multi-purpose destinations aimed at enhancing customer experience and supporting the continued growth of Saudi Arabia's retail sector.

Under the contract terms, Lynx will be responsible for design, engineering, procurement, construction, and installation services for the multi-purpose retail and lifestyle destination, as well as testing, commissioning, and final handover.

Regarding financial impact, Cenomi Centers stated that as construction progresses, the project is expected to be reflected in the company's performance throughout the execution period.

Cenomi Centers is reportedly the largest owner of modern shopping malls in the Kingdom and a leading company in the development and operation of this sector. For over two decades, the company has offered customers diverse choices through a portfolio of high-quality malls designed to the highest modern standards, located in the Kingdom's most attractive destinations.