ARABIAN Centres, the leading developer, owner and operator of international standard shopping malls in Saudi Arabia, announced Sunday that it has appointed Khaled Al Jasser as the new Chief Executive Officer. Prior to the appointment, Khaled Al Jasser was the CEO of Bank Albilad, and under his guidance and leadership, the bank has made significant strides and emerged as a leading Shariah-based financial solutions provider in the kingdom. He previously served as the Executive Vice President of Riyadh Bank. Commenting on the appointment, Dr. Fawaz Alhokair, Chairman of Fawaz Alhokair Group, the parent company of Arabian Centres, said: "We would like to welcome Khalid Al Jasser to the Arabian Centres family and wish him the very best in his new role. We are confident that his track record in leading several institutions towards growth and success will help Arabian Centres unlock further opportunities for growth in Saudi Arabia, and thereby further transforming the retail sector in kingdom in line with international markets." Based in Riyadh, Al Jasser will lead the company's major expansion program which is expected to double its retail real estate portfolio in the next three years. Last year, Arabian Centres embarked on a massive expansion program announcing the development of 12 new shopping malls in the kingdom that range in size from 45,000 sq m to 165,000 sq m, with launches spanning from Riyadh to Dhahran. Once completed by 2018, the new developments will double the total portfolio to nearly 2 million sq m of gross leasable area (GLA), reinforcing its position as the number-one malls developer and operator in Saudi Arabia. Commenting on the new role, Al Jasser said: "I look forward to contributing to the ongoing growth of Arabian Centres, which has established itself as the leading retail real estate company in Saudi Arabia. With a strong track record of delivering modern retail destinations with presence across the kingdom, Arabian Centres is well positioned to transform the retail landscape and have a direct impact on the kingdom's diversification strategy, which will be at the core of my strategy."
