- Broker Directory
- My Tools
- News & Advice
- Market Trends
- Other GN Sites
Property developer Nakheel has unveiled a range of new retail, residential and leisure developments in Dubai, making up a total built-up area of more than 23 million sq ft. Endorsed by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, the new plan comprises shopping, living, business and tourism amenities on Deira Islands, Dragon Mart and Ibn Battuta Mall.
Nakheel says the projects are in line with the government’s 2021 vision and cost around Dh14 billion.
The 6.5-million-sq-ft residential, retail and hotel extension for Dragon Mart will bring the total size of the complex to around 11 million sq ft. Already the largest Chinese trading hub outside mainland China, Dragon Mart will expand its retail component by 2.2 million sq ft, with close to 1.3 million sq ft of leasable space, including a showroom-style area for events and exhibitions. An additional car park with more than 6,200 spaces will also be built. A twin-tower residential project is planned within the complex as well, with 1,120 one- and two-bedroom apartments and a 250-room hotel.
At Ibn Battuta Mall, Nakheel will build a 4.7-million-sq-ft development, including a 1-million-sq-ft mall, cinema complex, multi-storey car park, four-star hotel with 370 rooms and a 300,000-sq-ft courtyard, which will be the centrepiece of the extension, featuring extensive landscaping and a retractable glass roof for year-round shopping and dining.
Nakheel will also build Deira Islands Mall, Towers and Boulevard, a 16-tower community with more than 2,400 apartments and town houses spread over four clusters, an extensive parkland and a 4.9-million-sq-ft mall. The self-sustaining community will be home to 10,000 people and includes the Deira Mall with 2.9 million sq ft of leasable space and a car park for more than 8,400 vehicles.
The towers will be built on top of four podium retail developments with 670,000 sq ft of leasable space. The development will also include Deira Islands Boulevard, a 400,000-sq-ft walkable shopping and dining promenade connecting the residences, mall and parks. The Boulevard will have around 120 outlets.
Source: Property Weekly