Dubai-based master developer Nakheel today signed a contract worth Dh1.5 billion ($408.28 million) for the construction of its Al Khail Avenue retail, dining and entertainment hub in Dubai, UAE.

It also announced that it is now bringing hospitality into the new hub by adding a 252-room hotel.

The contract was awarded to UAE-based Dhabi Contracting, with construction set to begin in early October.  

Earthworks at the site – alongside Dubai’s Al Khail Road on the edge of the Jumeirah Village Triangle (JVT) community – were completed in June.

Directly connected to Al Khail Avenue and its 350 shops, restaurants and entertainment outlets, the 18-storey hotel will feature an all-day restaurant, coffee shop, lounge, outdoor terrace, pool deck gymnasium and car park.

The hotel and leisure club will further enhance the growing JVT community, where residents will be offered club membership at preferential rates.  JVT contains more than 13,000 villas, townhouses and apartments spread across 242 hectares, with two schools and a range of third party residential developments currently under construction.

Scheduled for completion in Q1 2019, the two million square foot Al Khail Avenue has more than 1.2 million sq ft of leasable space, of which around 70 per cent is booked. Confirmed outlets include a 14-screen Reel Cinemas complex, a Waitrose supermarket and a wide range of fashion, children’s, home and electronics stores. There will also be a multitude of cafes and restaurants, plus a 4,000-space multi-storey car park which can be accessed directly from Al Khail Road.

Situated amidst several established or rapidly-developing residential communities and close to commercial hubs including Jafza and Dubai World Central, Al Khail Avenue is a convenient shopping and entertainment facility for people living nearby, a new destination for residents and tourists elsewhere in Dubai and the UAE, and an ideal location for business travellers, Nakheel said.

Nakheel’s retail project portfolio is set to become the biggest in the UAE, with over 15 million sq ft of leasable space in operation or under development. The developer’s hospitality portfolio is also growing rapidly, with nine hotels across Dubai either open, under construction or in design stage.  - TradeArabia News Service