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Al Hokair Time Malaqa is an entertainment-oriented retail center situated on King Salman Bin Abdulaziz Road in Riyadh, Saudi Arabia, operational since 2018. The property encompasses 40,000 square meters of gross leasable area over two levels, hosting 100 stores with 70 percent tenant diversity, including an anchor tenant, 10 unique concepts, and a pipeline of 5 new tenants. Occupancy remains stable at 95 percent, with 2,000 square meters available for lease.
Annual footfall reaches 2.5 million visitors, bolstered by 3 percent projected growth, 90-minute average dwell time, and high pedestrian traffic.
Accessibility benefits from proximity 0.5 kilometers to major roads, public transport connectivity, and 1,200 parking spaces. The primary 5-kilometer catchment area supports 500,000 residents, featuring a median age of 28 years, average household size of 5.2, 35 percent tertiary education attainment, median income of 60,000 SAR, 6.5 percent unemployment, and a cost of living index of 65. Rent averages 2,500 SAR per square meter with medium-term lease flexibility.
Operations include high security, low crime rates, 12 annual promotional events, 40 percent loyalty program engagement, and digital signage integration. Visitors cite shopping (40 percent), dining (35 percent), and home decor (25 percent) as primary draws, yielding 25 percent conversion and 30 percent click-and-collect usage amid 95 percent internet penetration. Positioned in a competitive landscape with three similar malls and moderate e-commerce influence, it achieves 15,000 SAR sales per square meter and 12,000 SAR per capita retail spend, with category breakdowns of 3,000 SAR apparel, 4,500 SAR groceries, and 2,000 SAR electronics.
Leasing opportunities favor family-targeted retail due to demographic alignment, though absence of expansion plans and demands for enhanced family amenities, international dining, and trendy fashion may pose retention risks in a saturated Riyadh market.
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Stores
Sky Zone Trampoline
Entertainment & LeisureSky Zone Trampoline Park at Al Hokair Time Malaqa in Riyadh offers a dynamic ...
Starbucks
Food & DiningThe Starbucks at Al Hokair Time Mall in Riyadh offers a welcoming environment...
Al Hokair Time
Entertainment & LeisureAl Hokair Time at Al Hokair Time Malaqa is a premier family entertainment cen...
Pizzo
Food & DiningPizzo is a unique addition to Al Hokair Time Malaqa, a vibrant entertainment-...
Hours of Operation
Hours
| Monday | 04:00 PM — 11:00 PM |
| Tuesday | 04:00 PM — 11:00 PM |
| Wednesday | 04:00 PM — 11:00 PM |
| Thursday | 12:00 PM — 12:00 AM |
| Friday | 02:00 PM — 12:00 AM |
| Saturday | 10:00 AM — 11:00 PM |
| Sunday | 04:00 PM — 11:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Catchment Profile
The primary catchment area within 5 kilometers encompasses 500,000 residents, with secondary reach to 15 kilometers, exhibiting 2.5 percent population growth. Median age stands at 28 years, with household sizes averaging 5.2 persons, reflecting family-centric demographics suitable for entertainment and leisure retail. Tertiary education levels at 35 percent correlate with moderate disposable income, evidenced by 60,000 SAR median household earnings and 12,000 SAR annual per capita retail spending. Unemployment at 6.5 percent and a cost of living index of 65 indicate affordability, supporting consistent footfall. However, reliance on young families may limit appeal for luxury or high-end segments, potentially capping premium lease rates in comparison to upscale Riyadh centers.
Tenant Mix and Performance Metrics
Featuring 100 stores across retail, dining, and entertainment, the tenant mix emphasizes 70 percent diversity with anchors driving traffic. Annual footfall of 2.5 million yields 15,000 SAR sales per square meter, with 95 percent occupancy and 5 percent vacancy. Dwell time averages 90 minutes, enhanced by 12 promotional events and 40 percent loyalty penetration. Visitor motivations skew toward shopping (40 percent) and dining (35 percent), fostering 25 percent conversion rates and 30 percent click-and-collect adoption. Operational strengths include high security and digital tools, yet limited unique concepts (10 stores) and no expansion plans may hinder adaptation to evolving consumer preferences, risking stagnation in sales growth amid Riyadh's 4 percent annual rent escalation.
Competition and Leasing Risks
Three nearby malls in the entertainment category intensify competition, compounded by moderate e-commerce pressures eroding physical sales in apparel and electronics categories. Average rents at 2,500 SAR per square meter align with market norms but face upward trajectory to 2,848 SAR in Riyadh, potentially straining mid-tier tenants.
Drawbacks include insufficient family amenities and diverse dining options, prompting shopper feedback for interactive zones and international cuisine to boost dwell time. Without infrastructure upgrades, aging elements post-2018 opening could elevate maintenance costs. Leasing advantages lie in medium flexibility and stable occupancy, but market saturation risks turnover if tenant pipeline (5 stores) underperforms, advising due diligence on category overlaps and demographic shifts.
Building Details
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City Snapshot
Riyadh
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City Snapshot
Riyadh
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