Arabian Centres Company (Senomy Centres), a leading developer and operator of shopping malls in Saudi Arabia, announced today, Sunday, a strategic financial step: the redemption of the remaining portion of its international sukuk. The redemption process included the sukuk maturing on January 7, 2026, listed on the international stock exchange, which were originally issued on April 7, 2021. With this, the company announces the successful completion of the redemption of all issued sukuk and the closing of this chapter.
Details of the financial refund process
According to the company's statement, the total value of the sukuk redeemed in this phase reached US$268.63 million. This transaction covered approximately 1,343 sukuk, each with a nominal value of US$200,000. This redemption represents 30.7% of the total issuance, reflecting the company's strong financial position and its ability to meet its international financial obligations.
This step follows the company’s previous announcement on the Saudi Stock Exchange “Tadawul” website dated November 20, 2025, in which it submitted a comprehensive purchase offer and an invitation to obtain approval regarding its outstanding sukuk amounting to US$875 million, due in October 2026. Accordingly, the company repurchased the remaining portion, which represents the difference between the redeemed amount and the full amount issued, meaning that no amounts remain due from this issuance.
Strengthening the financial position and growth strategy
Sinomi Centers is one of the leading economic entities in the Kingdom's retail and real estate sectors. Economic experts indicate that the company's success in paying off these debts and repaying sukuk before or on their due dates enhances its investment appeal and improves its financial statements by reducing financing costs and long-term debt. This strategy gives the company greater flexibility to finance its future expansion projects and develop modern destinations that align with the tastes of the Saudi consumer.
Positive repercussions for the Saudi economy
The significance of this event extends beyond Sinomi Centers to the Saudi financial market as a whole. The commitment of major Saudi companies to fulfilling their international obligations reinforces global confidence in the Saudi economy and in the debt instruments issued by Saudi companies. This disciplined financial performance aligns with the objectives of Vision 2030, which aims to empower the private sector and increase its contribution to GDP, as well as deepen the financial market and attract direct and indirect foreign investment to vital sectors such as retail and entertainment.
