Cenomi Centers hands DAAM a $28mn facilities contract at Westfield Jeddah
Cenomi Centers awarded DAAM IFM a three-year facility services deal for Westfield Jeddah in Saudi Arabia, worth an estimated $27.85 million, Reuters said.
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what happened
Arabian Centres Company, known as Cenomi Centers, has selected DAAM Facilities Management Company (DAAM IFM) to run integrated facilities management at Westfield Jeddah, a retail destination. Reuters reported the award based on a disclosure the company filed with the Saudi bourse.
The three-year agreement is estimated at 104.3 million Saudi riyals, or $27.85 million. It combines an annual fixed base fee of SAR 28.64 million with specialist services billed at cost plus a 5% management charge, roughly SAR 6.12 million a year.
Scope covers supply, delivery and procurement, along with management of specialist services and the rollout, coordination, reporting and oversight of all related activities. Cenomi expects the financial effect to show up in its results across the contract term, starting in the fourth quarter of 2026.
why it matters
A contract of this size is unlikely to move Cenomi Centers' earnings or the broader market, but it shows steady, fee-based operating spending at its malls. Investors tracking Saudi retail real estate may see it as a routine update rather than a change in the company's outlook.
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- Cenomi Centers awards $28mln FM services contract for Westfield Jeddah — Reuters, 27 October 2026 at 04:47 UTC
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