Nakheel unveils plans for $4.4bn Dubai retail project
Sep 05, 2016 – Dubai-based developer Nakheel has unveiled plans for a new AED16bn ($4.4bn) retail project at Nad Al Sheba in Dubai, UAE.
The scope of the project will include the construction of a 112,000sq m shopping, dining and entertainment hub at Nad Al Sheba master community, where 1,500 villas are currently under construction.
Nad Al Sheba Mall will feature 47,000sq m of retail space and about 200 shops, restaurants and entertainment outlets including a supermarket, department stores, a multi-screen cinema, and a medical and fitness centre.
Nakheel has chosen AE7 to oversee the design, engineering and construction supervision of the project. A construction contract is anticipated to be awarded in the fourth quarter of 2016.
Nakheel chairman Ali Rashid Lootah said: “Nad Al Sheba Mall is the latest addition to our rapidly-expanding retail project portfolio, which will see the delivery of 1.2Msq m of leasable space in the next three to five years, adding to the 372,000sq m already in operation.
“The mall will be the vibrant centrepiece of our Nad Al Sheba community, providing on-the-doorstep facilities for residents and a new shopping, dining and leisure hub for people elsewhere in Dubai.”