Nakheel, a Dubai World company and one of the world’s largest real estate developers, plans to develop 13 million square feet of new retail space across five separate mega mall projects in Dubai.

The projects will make Nakheel's integrated retail division, Nakheel Retail, the largest shopping mall developer, owner and manager in the Middle East by 2012 and one of the largest in the world by 2018, said a statement.

A Reuters report said the total cost of the projects will be $3 billion.

The new projects will include: Palm Mall, Palm Jumeirah a premier retail destination on the first Palm development; Palm Mall, Palm Deira an enormous retailing precinct planned for the first phase of the Palm Deira; Ibn Battuta Mall Phase II, doubling the mall’s size with new themed courts and an expanded retail mix; India Mart, which will combine the very best of Indian wholesale and retail shopping with entertainment facilities; and finally Great Mall Dubai a ‘3-in-1’ mall concept at International City.

Ahead of the Middle East Council of Shopping Centres (MECSC) Annual Convention, at which Nakheel Retail’s future plans will be showcased, Graham Dreverman, group managing director, Nakheel Retail said:  “With the success of Ibn Battuta Mall and Dragon Mart, we are in a very strong position to expand the Shopping Malls division of Nakheel Retail across Dubai to meet the retail demands of a growing population.

"Nakheel is known for its iconic projects and this extends to all its divisions. With the design and delivery of five new innovative, world-class shopping malls, through our Shopping Malls division Nakheel Retail is poised to become one of the most successful shopping mall developers, managers and owners in the world.”

Nakheel Retail has created a new structure to meet its ambitious plans for growth. There are four divisions spanning shopping mall and retail brand development – Shopping Malls, RetailCorp, Hypermarkets and Food & Beverage.

Nakheel Retail Shopping Malls is the retail property division of Nakheel Retail undertaking ownership, development, management, leasing and marketing of shopping malls strategically located around Nakheel’s residential communities.

Nakheel Retail RetailCorp is already a dominant operator in the sports sector through a mix of franchise and joint venture agreements with brands including: Lillywhites, Sports Direct, Dunlop, Slazenger, Karrimor, Carlton, Donnay, No Fear, Kangol, Voodoo Dolls, Antigua, Lonsdale, Nike, Go Sport, Peak Performance, Inwear, Soaked in Luxury, Joe Bloggs. New retail brands for Nakheel RetailCorp will focus on general apparel, sports, entertainment and leisure, cinema and home sectors.

Nakheel Retail Hypermarkets complements the other retail platforms dedicated to establishing an international hypermarket that will set the benchmark for the region. An announcement regarding a partnership with a leading international brand will be made shortly, it said.

Nakheel Retail Food & Beverage will target the diverse market in the region by embracing the cuisines of the world. It will become the largest and most diverse food and beverage operator in the UAE within five years, the company said.

Nakheel Retail Shopping Malls division’s existing asset portfolio includes more than two million square feet including the world’s largest themed shopping centre in the world, Ibn Battuta Mall, and the largest Chinese wholesale trade centre outside of China, Dragon Mart. Over the next 10 years, Nakheel Retail Shopping Malls division will build an extensive portfolio of shopping destinations in Dubai to serve the needs of new mega projects such as Waterfront and the Palm Deira and the growing population of Dubai. -TradeArabia News Service