Nakheel awards Dh2.3 billion deals for major projects
Nakheel has confirmed the builders of Deira Islands Night Souk, Warsan Souk and The Circle Mall, which, combined, offer nearly 2.3 million square feet of retail space and over 6,700 shopping, dining and entertainment outlets.
Dubai - Construction contracts for three mega projects to boost retail portfolio.
Nakheel has awarded construction contracts worth nearly Dh2.3 billion for three major projects in its growing retail portfolio, the developer announced on Saturday.
The Dubai-based firm, which developed palm-shaped Jumeirah islands, has confirmed the builders of Deira Islands Night Souk, Warsan Souk and The Circle Mall, which, combined, offer nearly 2.3 million square feet of retail space and over 6,700 shopping, dining and entertainment outlets.
Nakheel's retail project portfolio is expected to become the biggest in the UAE, with 10 new large-scale developments and a growing collection of community retail centres on the way. The company has more than 10 million square feet of leasable retail space in the pipeline, adding to the 3.4 million already in operation at its Dragon Mart and Ibn Battuta Mall developments.
The company has awarded Dh1.17 billion contract to United Engineering Construction for Deira Islands Night Souk and Boardwalk; Dh775 million contract to Ginco General Contracting for Warsan Souk; and Dh353.75 million contract to Gulf Technical Construction Company for The Circle Mall.
Deira Islands Night Souk will stretch almost 2km along Deira Islands' waterfront and boast 5,300 shops and nearly 100 quayside cafes and restaurants.
Located just across from mainland Dubai, the Night Souk will be easily accessible by road and water, and within walking distance of hotels, residences and Deira Mall, Nakheel's other major retail project at the islands.
All 1.2 million square feet of leasable space at the Night Souk was snapped up by budding Emirati entrepreneurs within five days of its launch. The Night Souk will bring together a new generation of local traders at Dubai's oldest and most traditional business hub, and is set to be one of Dubai's biggest new attractions for residents and tourists. Construction of the Night Souk is due for completion in 2018.
Warsan Souk is a new retail complex with 1,170 shops including two department stores and 30 cafes and restaurants with indoor and outdoor dining. Located between Sheikh Mohammed bin Zayed Road and Manama Road, next to International City, Warsan Souk will be a vibrant, modern destination, innovatively-designed as a modern take on the traditional souk. With 650,000sqft of retail space, the souk will be spread across eight buildings, each comprising two floors of retail with three-bedroom townhouses - 433 in total - built above.
Already fully leased and due for completion in 2018, Warsan Souk forms part of Nakheel's Warsan Village gated community of 934 homes, currently under construction.
Located at Jumeirah Village Circle, one of Nakheel's largest master communities, The Circle Mall has 432,000sqft of retail space housing 235 shops, a multi-screen cinema, a health clinic, a multitude of cafes and restaurants and a food court.
The Circle Mall, strategically positioned Sheikh Mohammed bin Zayed Road, Al Khail Road and Hessa Street, will serve hundreds of thousands of people living in Jumeirah Village and surrounding areas, and provide a new leisure destination for residents and tourists across the rest of Dubai. Around half of the leasable space at Circle Mall is booked. Construction will begin shortly, with anticipated completion in early 2018.
Confirmed tenants at The Circle Mall include Spinneys, Oscar Cinemas, Sports Market, Early Learning Centre, Mamas & Papas, Grand Optics, Tips & Toes, Bare Salon and Supercare Pharmacy. Cafes and restaurants coming to The Circle Mall include Jamaica Blue, Café Nero, London Dairy, Wendy's, Barbecue Delights, Russo's New York Pizzeria, Nando and Al Arrab.