Six proposals in to build $680mn Nakheel Mall
Construction contract expected to be awarded within three months
Dubai developer Nakheel announced that it has received six proposals for the construction of Nakheel Mall, its Dhs2.5bn ($680mn) Nakheel Mall on Palm Jumeirah.
Bids started at Dhs1.185bn ($322mn), the company said in a statement, adding that the contract for construction should be awarded within three months.
The 418,000m² retail, dining and entertainment complex will be built at the heart of The Palm, at the northern end of the island's trunk.
The Nakheel Mall and Hotel complex, which is due to open in 2016, will include 200 shops, 4,000 parking bays, two anchor department stores, a nine-screen cinema and six medical clinics. There will also be a roof plaza with 12 fine dining restaurants and other cafes and eateries.
Nakheel, which recently reported a 27% rise in 2013 net profit to reach Dhs2.57bn ($699mn), has been scaling up operations significantly this year.
Last week, the developer announced that it had awarded three new contracts – together worth over Dhs41mn ($11.1mn) – for its Al Furjan and Warsan Village master communities.
Earlier this month, Nakheel also announced that it had awarded a Dhs375mn ($102mn) contract to Gulf Technical Construction Company– a subsidiary of Drake & Scull – to build The Pointe mall at Palm Jumeirah.