Nakheel cements Dhs1.2bn construction contract for Nakheel Mall on Palm Jumeirah
Nakheel’s new 418,000 square metre mall on Palm Jumeirah moved a step closer today with the official signing of the Dhs1.2bn construction contract.
The contract to build Nakheel Mall was cemented at a signing ceremony between Nakheel and UAE firms United Engineering Construction LLC (UNEC) and Actco General Contracting Company LLC, who were jointly awarded the contract in May this year. Construction is expected to begin soon.
Nakheel Mall, the new centrepiece of Palm Jumeirah, will have five retail levels with more than 100,000 sqm of shop space, three basement parking levels with 4,000 spaces, 300 shops, two anchor department stores, a nine-screen cinema, medical centre and fitness complex. There will also be a roof plaza with a host of fine dining restaurants, as well as a diverse selection of food and beverage outlets inside. The project is expected to be completed in 2016.
Alongside Nakheel Mall will be The Palm Tower – Nakheel’s new, five-star, 50-storey hotel and residential complex – for which a separate construction contract will be awarded soon.
Nakheel Mall is one of several new retail projects underway by Nakheel, whose growing retail portfolio also includes a 620,000 sqm mall at Deira Islands, announced in June. Nakheel is also developing a night souk at Deira Islands, The Pointe at Palm Jumeirah, extensions to Dragon Mart Mall and Ibn Battuta Mall and retail centres at five Nakheel communities across Dubai.