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Master developer Nakheel has awarded construction contracts worth nearly Dh2.3 billion for three major projects in its growing retail portfolio. The company 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. It awarded the Dh1.17 billion contract to United Engineering Construction LLC for Deira Islands Night Souk and Boardwalk, Dh775 million contract to Ginco General Contracting LLC for Warsan Souk and Dh 353.75 million contract to Gulf Technical Construction Company LLC for The Circle Mall.
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. Its retail expansion strategy, fully aligned with Dubai’s 2021 vision, is bringing new opportunities for both retailers and consumers.
On the other hand...
JVC road improvements work to begin
Master developer Nakheel has awarded a contract for nearly Dh27.5 million to Dubai-based KTC International Contracting LLC for traffic signals and road improvements at Dubai’s Jumeirah Village Circle (JVC). The work is expected to begin in a few weeks’ time and will take 10 months to complete. Traffic signals will be installed at 29 major junctions within the 811 hectare community. Residents at JVC can also look forward to easier access to the community via a new entry and exit road from Dubai’s Hessa Street, for which Nakheel issued a tender this week. Construction will begin when proposals have been received and evaluated, and a contractor appointed. JVC is one of Nakheel’s largest and fastest-growing mixed-use developments which, when complete, will accommodate some 300,000 people. Nakheel has delivered more than 700 villas at JVC, with more than 230 buildings, villas and townhouses by third party developers either complete or under construction. Another 267 design applications for residential, commercial and hospitality developments are under review. JVC will also be home to The Circle Mall, Nakheel’s new shopping, dining and entertainment hub, with 235 shops, cafes and restaurants and a multi-screen cinema. Construction of the mall will begin this year.
Source: Property Weekly