Starting in the late 1970s, Balubaid was one of the first Saudi groups to build shopping malls in the Kingdom. Al Mousadeia Plaza in Jeddah and Hijaz Makkah mall were the first shopping malls built in their cities, respectively. Today Balubaid operates six mid-market retail destinations in the Western province of Saudi Arabia:
• Al Mousadeia Plaza (Jeddah)
• Hijaz Jeddah Mall 1 (Jeddah)
• Hijaz Jeddah Mall 2 (Jeddah)
• New Town Center (Jeddah)
• Solidaire (Jeddah)
• Hijaz Makkah Mall (Makkah)
Collectively, these properties account for over 100,000+ sqm of gross leasable area, and are home to popular brands including Citymax, Jarir, Funland, KFC, Hardees, Krispy Kreme, and others.
Operating Real Estate
To support its operations across a variety of sectors, Balubaid also owns a Kingdom-wide portfolio of real estate assets across Saudi Arabia, including automotive facilities (showrooms), workshops, warehouses, retail outlets (parts), industrial land (factories), office buildings and other commercial real estate.
Real Estate Development
Balubaid owns a sizable land bank in prime areas of Jeddah for investment and development purposes. Asset classes the Group is currently exploring include mixed-use development, transport-oriented development in proximity to upcoming rail network infrastructure; retail development, offices, and mid-market serviced apartments / extended stay hospitality.
Real Estate Investments
In addition to its Saudi land bank, Balubaid Group is an investor in office and retail real estate developments in the United Arab Emirates and Egypt.
For more details please visit : www.hijazmalls.com