Jeddah Summer Festival seen to generate SR2bn

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Mohamed Iqbal Alawi

JEDDAH — The Jeddah Chamber of Commerce and Industry (JCCI) expects more than 50,000 visitors daily in the month-long Jeddah Summer Festival that opened last July 9. Total number of visitors was seen to reach 1.5 million, generating an average spending and a return on investment in Jeddah of nearly SR2 billion.

Mohamed Iqbal Alawi, CEO of Red Sea Markets Company Ltd, the owning company of Red Sea Mall and Chairman of Shopping Centers Committee, JCCI, said: “Last year KSA increased its retail sales by 6.4 percent reaching up to SR361.14 billion, according to AT Kearney’s Global Retail Development Index, and total retail space increased by 5.6 percent to 2.1 million sq m. Accordingly, we are expecting an increase of 3 to 4% at least on this year, due to variety of events and the vast contributions among the shopping centers, in addition to the diverse events and entertainment activities which are conducted by the industry players.”

All visitors will observe the well-shaped 19th version of the festivals and live a new experience, especially that the Red Sea Mall will be offering many prizes including a draw on deluxe cars. It will also be offering 50,000 electronic coupons through participation in the e-coupon program.

“The Jeddah Summer Festival will continue throughout the whole month as one of the biggest shopping and touristic festivals. It is supported by the Adviser to the Custodian of the Two Holly Mosques King Salman, the Governor of Makkah Province, Prince Khaled Al-Faisal Bin Abdul Aziz and the Governor of Jeddah, Prince Mishaal Bin Majed Bin Abdul Aziz,” Mazen Bin Mohammed Batterjee, Vice-Chairman of Jeddah Chamber of Commerce and Industry, said. — SG


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