UAE firms collar Dh1.36b in contracts for Nakheel projects

UAE firms collar Dh1.36b in contracts for Nakheel projectsImage Credit: Supplied

Nakheel has awarded a contract worth more than Dh1.2 billion for the construction of Nakheel Mall and another contract worth nearly Dh160 million for the construction of a 372-room hotel at Ibn Battuta Mall.

UAE firms United Engineering Construction (Unec) and Actco General Contracting Company have been contracted to build the 418,000-sq-m Nakheel Mall on The Palm Jumeirah. Construction is expected to begin soon and completed in 2016.

Unec was also appointed to build the Premier Inn at Ibn Battuta, which will form part of Nakheel's 28,000-sqm expansion of the Ibn Battuta Mall complex.

Nakheel Mall, where nearly half of available leasing space is already booked, will be constructed by selected business partners — New Mall Limited—through a build, operate and transfer (BOT) mechanism. The project will be managed by Nakheel until the transfer date. The mall will have five retail levels with more than 100,000 sq m of retail space, three basement parking levels with 4,000 spaces, 200 shops, two anchor department stores, a nine-screen cinema, a medical centre and a fitness complex. There will also be a roof plaza with a host of fine dining restaurants, as well as a diverse selection of food and beverage outlets.

Scheduled to open in 2016, the Premier Inn at Ibn Battuta will be directly linked to the Dubai Metro and Ibn Battuta Mall. It will have a restaurant, a Costa coffee shop, a swimming pool and gym. The awarding of the construction contract comes less than three weeks after Nakheel signed a management agreement with UK-based Premier Inn to run the hotel.

Ibn Battuta, the world's largest themed shopping mall, has 270 shops, 50 restaurants and a 21-screen cinema. The expansion will add 150 shops to the complex.

Nakheel is planning nine hotels across Dubai over the next five years. In April, the developer confirmed that Accor will manage its 250-room hotel at Dragon Mart, due to open this year.

Nakheel also said it will soon be awarding the contract for The Palm Tower, a five-star, 50-storey hotel and residential complex located alongside Nakheel Mall.

Source: Property Weekly


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