UAE: Nakheel opens Dragon Mart Phase 2 expansion
Nakheel’s Dragon Mart 2 has been officially inaugurated by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai
Nakheel has opened Phase 2 of its $272m (AED1bn) Dragon Mart expansion project.
Dragon Mart 2, which is located in the International City area of Dubai, was officially inaugurated by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
The shopping centre’s extended halls and facilities are spread over two storeys, comprising 570 shops, 520 kiosks, and 4,500 additional parking spaces.
To date, construction of the development has cost nearly $272m (AED1bn), according to the UAE’s state news agency, WAM. Dragon Mart’s leasing area now stands at more than 92,900 sqm.
HH Sheikh Mohammed was accompanied by HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai; and HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai. Ali Rashid Lootah, chairman of Nakheel, briefed delegates on future expansion plans during Dragon Mart 2’s inauguration.
Following the completion of Phase 2, Nakheel’s Dragon Mart is now the second largest centre in the world for Chinese products outside the People’s Republic of China.
The expansion of Dragon Mart will take place across a total of six phases, according to Nakheel.