Cenomi Centers, Saudi Arabia’s leading mall developer and operator, reported a fall in net profit and revenue in the first quarter of 2026, despite the company claiming the current regional backdrop had a “negligible direct impact” on its performance.
Revenue was SAR583 million in the first three months of the year, only 1 percent lower than over the same period a year ago. Cenomi said this was primarily due to portfolio changes. On a like-for-like basis, the top line rose 4.9 percent year on year.
Footfall was up 2.5 percent year-on-year, while occupancy was 92.4 percent. This…
