Konoz Box of Jewels
Riyadh, Saudi Arabia

Retail strategy for a new world-class mixed-use development in Riyadh

挑战

Having secured a key site on Riyadh’s ‘Golden Strip’, Al Othaim wished to develop a world-class mixed-use development, fully aligned with the aspirations of the 2030 vision. Benoy's Commercial Strategy team (formerly Pragma) was instructed to design and deliver a vision for how the scheme could become an attractive, walkable district in contrast to the existing and planned enclosed mall. The development also needed to provide the depth of commercial provision required to generate strong investment returns.

解决方案

As a combined strategy and design team, we worked with Al Othaim to identify the scale of ambition – regarding local, national and international competition – to understand project timeframes, measures of success, and phasing.

We segmented the addressable audience into the ‘captive’ audience and the ‘catchment’ audience, accounting for proposed hotel and residential accommodation, along with immediate and surrounding office developments, projections of population and spend growth, changing consumer attitudes and behaviours, and the impact of competing schemes in Riyadh.

We then identified gaps in the existing and planned provision and, with reference to global benchmarking, identified the strategies, developments, uses and brands that would deliver according to the client’s success criteria.

With our evidence-base and insights into the target commercial proposition and user experience, we informed the pre-concept masterplan and provided high-level guidelines on the theming and characteristics of retail, F&B, and entertainment facilities. We also developed the commercial strategy through market sizing and assessment of commercial potential to form a distinct commercial proposition and user experience.

Our detailed guidelines on space composition, category mix and range of activities ensured the design team could refine the sizing, distribution and adjacencies of uses, units and experiences.

结果

The new scheme positions Riyadh as a 24-hour destination, introducing 50,000m2 of state-of-the-art commercial office spaces and a 20,000m2 entertainment city aimed at supporting Riyadh’s thriving tourism and entertainment industry.

In addition to its commercial spaces, the project features 15,000m2 of green areas, a 120,000m2 commercial centre, a world-class a luxury hotel with 250 rooms, 120 serviced residential apartments, and an additional 135,000m2 residential complex with 700 apartments.

The insight and output from our work have informed the ongoing development of the scheme, which aligns with the newly developed Riyadh Metro.