Leading master developer Nakheel said work on its Dh1.2-billion ($327 million) retail, dining and entertainment destination coming up at the heart of Palm Jumeirah, Dubai, was progressing well with 50 per cent construction completed.

The 4.5-million-sq-ft Nakheel Mall will boast of five retail levels with 350 shops, restaurants and leisure attractions spread across 1.2 million sq ft of leasable space.

The mall’s three underground parking levels, with 4,000 spaces, are nearly complete, with the overall superstructure due to be finished in Q3 this year, said the developer.

Work is also on track on the mall’s VIP entrance and rooftop features, which include two fountains and two waterfalls plunging 65 ft into the mall, it added.

The new centrepiece of Dubai’s world-famous Palm Jumeirah, Nakheel Mall is one of several new retail, residential and hospitality developments under construction by Nakheel, said the developer.

Nearly 60 per cent of shop space Nakheel Mall has been booked, with Waitrose, Vox Cinemas, Adidas, Breitling, French Connection and Montblanc just some of the big names on board.

There will also be a fine dining roof plaza offering panoramic views of Palm Jumeirah, Arabian Gulf and the Dubai skyline, it stated.

Alongside Nakheel Mall will be The Palm Tower – Nakheel’s new, five-star, 52-storey hotel and residential complex – for which a separate construction contract was awarded last year.

A St Regis hotel will occupy the first 18 floors, with 504 luxury residences above, said the statement from Nakheel.

Due for completion in 2018, the tower will also boast a trio of rooftop attractions, with one of the world’s highest infinity pools on the 50th floor, a 51st floor restaurant and a viewing deck, 220 m above ground, on level 52, it added.-TradeArabia News Service