Business & Money | Thursday 2 June, 2016 4:27 pm |

Artin Malatjalian Red Sea Mall General Manager, assured the prominence of Saudi market in reference to retail trade among other competing markets in the region, being the favoured target of international retail brands. He added, international retail brands carry out precise research before investing in a country. It reviews the availability of mega shopping malls, obtainable investment opportunities in terms of location, retail expectations, number of visitors, and other competing brands. Besides the added value offered by the malls to promote possible investments. 

Malatjalian explained, "International brands are the key role player in reviving mega shopping malls, as it collaborates in promoting the mall to a percentage that reaches up to 90%, while 10% depends on the malls' activities. Attracting international retail names, especially the popular ones, has a direct upshot in raising the mall's unit marketing value, when it comes to leasing to retail.  

He added, 25% to 30% of mall owners are interested in new and unknown brands, which are not available at other places to place their investment in a unique position in the market, on both business and national level.  

Malatjalian said, "at the end of every year, we carry out a conclusive statistical research for Red Sea Mall to review each brands opportunities and challenges, we review the spending process, annual visitors, and reassess suggestions and recommendation presented by brands dealers. For example, the mall's demographic type is now different than the ones of three years ago; it consisted of mainly our guests from Riyadh and Qaseem, especially during Eid vacations. However, the Red Sea Malls is attracting a diversity of visitors that include the north and south region of the kingdom. The diversity of visitors is driven from the diversity of options made all available at the mall.   

Malatjalian reassured, the corner stone of Red Sea Mall's success is the continuous thrive for distinctiveness. The resilience of maintaining the balance of valuable merchandise and services, and targeting different age groups and nationalities by offering them a diverse options of endless choices.