Nakheel on Wednesday awarded a construction contract to build its AED6.1 billion ($1.66 billion) Deira Mall, Dubai’s biggest shopping, dining and entertainment destination in terms of retail space, writes Arabian Business.
Nakheel said in a statement that it has appointed United Engineering Construction to build the mall, under a contract valued at AED4.2 billion ($1.1 billion).
Construction will begin in the third quarter of this year, with completion in 2020, the developer said.
With four million square feet of leasable area, Deira Mall will be the biggest in Dubai in terms of shop space, it added.
It will be located at the heart of Deira Islands, Nakheel’s new, 15.3 sq km waterfront city that is part of Dubai’s 2021.
The four-island development, which will transform the area traditionally known as ‘Old Dubai’ into a world-class retail, tourism, living and leisure hub, will be home to more than 250,000 people when complete.
With a total built-up area of 10.3 million sq ft, including a 3.8 million sq ft multi-storey car park with 8,400 spaces, Deira Mall will feature over 1,000 shops, cafes, restaurants and entertainment outlets across three floors.
The development will feature a retractable roof, bringing natural light into the complex and allowing open-air shopping in cooler months.
Deira Mall will be the centrepiece of Deira Boulevard, a new AED5 billion Nakheel community with 16 residential towers, nearly 3,000 apartments and extensive retail, restaurant and recreation space.
Together, Deira Mall and Boulevard will have 4.5 million sq ft of shop space. A construction tender for Deira Boulevard was released in January.
Deira Mall is one of two large-scale retail projects by Nakheel Malls at Deira Islands. The other, Deira Islands Night Souk, is set to become the world’s largest night market, with 5,300 shops and almost 100 quayside cafes and restaurants.
Construction is ongoing, with the project due for completion in 2018. All units at the Night Souk are fully leased.
Deira Islands will add 40km, including 21km of beachfront to Dubai’s coastline.