Nakheel inks construction contract for US$ 326 mn mall project on Palm Jumeirah
Posted on 14th July 2014
Dubai's master developer Nakheel announced on Sunday that it has signed a AED 1.2 billion (US$326 million) construction contract for its new 418,000 square meter mall on Palm Jumeirah.
The contract to build Nakheel Mall was inked at a ceremony between Nakheel and UAE firms United Engineering Construction (UNEC) and Actco General Contracting Company, who were jointly awarded the contract in May and the company stated that construction was expected to begin on the project soon. It also mentioned that a separate construction contract for the Palm Tower, the company's other big five star fifty storey hotel cum residential complex project is also likely to be awarded soon.
Nakheel Mall, the new centerpiece of Palm Jumeirah, will have five retail levels with more than 100,000 square meters 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.
Nakheel Mall is one of several new retail projects underway by Nakheel, whose growing retail portfolio also includes a 620,000 square meter 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.Back to all Construction News
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