Nakheel, Dubai-based master developer, will commence construction on Dh2.5 billion Nakheel Mall on Palm Jumeirah this year and is expected to open it in 2016.
The new development has been endorsed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, who recently visited the company for a briefing on the company’s upcoming projects.
The Nakheel Mall will have a gross floor area of 424,000 square metres, including five retail levels and three basement parking levels with 4,000 parking bays.
Ali Rashid Lootah, Chairman, Nakheel, said, in a statement: “Nakheel Mall will bring a new dimension to shopping, dining and leisure inDubai. It will enhance the services and facilities available to residents of Palm Jumeirah, and provide an exciting new destination for people in across the UAE, including the millions of tourists who visit our country each year.”
It will have almost 100,000 square metres of retail space, a 1,000 square metre indoor garden and a 180-metre high viewing deck with panoramic views of Palm Jumeirah and the Dubai skyline.
Nakheel Mall will contain nearly 200 shops, including a 4,200 square metre supermarket and two anchor department stores, a nine-screen cinema and six medical clinics. There will be an outdoor roof plaza with extensive food and beverage outlets, with additional restaurants and cafes, including a food court, inside the complex.
A five star hotel with direct access to Nakheel Mall is part of the plan, which will have 200 rooms, 200 apartments and a rooftop swimming pool, restaurant and lounge.
The mall will have its own Palm Jumeirah Monorail station. Besides, it will be directly linked to the Marina Residences towers through a series of underground walkways.
In June 2012, Nakheel, awarded construction contracts worth Dh600 million for the Dragon Mart Phase 2. The new phase, work on which will commence soon, will add 177,000 square metres to the existing mall with the total size being 335,000 square metres. The hub will have an estimated total development value of Dh1 billion and will be completed in Q3 2013.
Last month, company CEO Sanjay Manchanda told Emirates 24/7 the company might double the size of Ibn Battuta Mall if there was market demand. The company reiterated at the time of releasing its 2012 results that Ibn Battuta Mall expansion was on cards.
According to Jones Lang LaSalle, the total gross leasing area in Dubai was 2.85 million square metre by end of 2012. The future supply (2013 – 2015) will be 374,700 square metrres with significant completions being the Avenue, the Outlet Village, the Beach Mall and the major extension to Dragon Mart.
Besides, Dubai has already announced plans to build the largest mall in the world, which will be part of Mohammad Bin Rashid City.
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