Wednesday 16 January 2019

Nad Al Sheba Mall

Nakheel awards $162m construction contract for mall

DUBAI, April 22, 2018

Dubai-based master developer Nakheel has awarded a contract worth Dh595 million ($162 million) for the construction of Nad Al Sheba Mall, its new, 1.4 million-sq-ft shopping, dining and entertainment destination.

The new destination has a total development value of Dh825 million, a statement said.

Nakheel has appointed Metac General Contracting Company to build the mall, which will have 200 shops, restaurants and entertainment outlets spread across 500,000 sq ft of leasable space. It is due for completion in 2021.

Nad Al Sheba Mall will have supermarkets (Spinneys and Union Co-op), department stores, a multi-screen cinema, medical clinic, fitness centre and a host of restaurants and cafes.

Located just off Sheikh Mohammed Bin Zayed Road, the mall will be the vibrant centrepiece of Dubai’s Nad Al Sheba district, a well-populated, ever-growing community with over 11,000 high-end villas.

The area includes Nakheel’s own community of 1,572 villas, 468 of which are being built by Metac under a Dh781 million contract awarded in 2015.  The community has its own clubhouse, pool, sports courts and cycling track. Villas will be available for lease from early 2019.

Nad Al Sheba Mall is part of Nakheel Mall’s Dh22 billion expansion that will take its total retail space to over 17 million sq ft. The construction award comes two months after the company awarded a contract for Dh4.2 billion to build Deira Mall, the biggest mall in the Middle East in terms of leasable space.  

Nakheel Malls’ portfolio comprises 18 projects; including large-scale malls, souks and neighbourhood retail Pavilions. More than 4.5 million sq ft of shop space is already in operation at several large-scale and neighbourhood retail developments, including the world-famous Ibn Battuta Mall and Dragon Mart, which together welcome more than 60 million visitors a year.

The company’s diverse range of upcoming projects across Dubai will add 12.5 million sq ft, through thousands of new shops, restaurants and unique attractions, to the mix.

Nakheel’s master developments include Palm Jumeirah, The World, Deira Islands, Jumeirah Islands, Jumeirah Village, Jumeirah Park, Jumeirah Heights, The Gardens, Discovery Gardens, Al Furjan, Warsan Village, Dragon City, International City, Jebel Ali Gardens and Nad Al Sheba.  Together, these span more than 15,000 hectares and currently provide homes for over 270,000 people. Nakheel has around 25,000 residential units under construction or in the pipeline. – TradeArabia News Service

Tags: nakheel | Nad Al Sheba Mall |

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