Dubai: Nakheel Awards AED825 Million Contract For Nad Al Sheba Mall ConstructionSource: www.export-egypt.com 4/22/2018, Location: Middle East |
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Master developer Nakheel today awarded a contract worth AED595 million for the construction of Nad Al Sheba Mall, its new, 1.4 million square foot shopping, dining and entertainment destination that has a total development value of AED825 million.
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 an AED781 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 AED22 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 AED4.2 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. |
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