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Dubai's Dh800m themed mall set for opening in 2004

Sultan Ahmed bin Sulayem, executive chairman of Nakheel - the company behind landmark projects including The Palm, The Gardens and Jumeirah Islands - said Dubai's retail landscape would undergo a change with the opening of The Gardens Shopping Mall, located in The Gardens, off Shaikh Zayed road between interchange 5 and 6. The mall will combine retail, entertainment, restaurant and family activities all within a novel themed environment. The total cost of the project - some Dh800 million - will be partly met through bank finance, he said.

Sulayem said several new shopping malls coming up in the area would not necessarily result in a glut or lead to unhealthy competition. "Shopping malls which are properly planned and positioned are bound to be successful. Proper planning is the key to success," he said. The mall's location was chosen after a thorough research into the viability of the area. The research revealed that by the end of 2004 the population within a five-minute drive of the mall would be over 130,000 and by 2008 over 265,000. By 2008, over 880,000 people are expected to be living within a 15 minute drive. Apart from the residents, there are also up to 600,000 tourists per annum staying in hotels within a 15 minute radius. To facilitate this large volume of traffic to the mall a complete road network leading to the project is being developed in collaboration with the Dubai Municipality. Some 50 per cent of the outlets available for lease have already been committed, he said.