Deadline day sees lowest price of AED4.2 billion

Dubai, 20 February 2017

Construction proposals have been received for Deira Mall, Nakheel’s new retail, dining and entertainment hub to be built at Deira Islands in Dubai.

Three proposals were submitted for the 20 February deadline, with bids starting at AED4.2 billion, the company said.   

Deira Mall will be located at the heart of Deira Islands, Nakheel’s new, 15.3 sq km waterfront master community that will contribute to Dubai’s 2021 vision by transforming the area traditionally known as ‘Old Dubai’ into a world-class hub for retail, tourism, living and leisure.

With four million sq ft of leasable space, Deira Mall will feature over 1,000 shops, cafes, restaurants and entertainment outlets across three floors. A state-of-the art atrium will have retractable roofs to bring natural light into the complex and allow open air shopping in cooler months. There will also be a multi-storey car park with nearly 8,400 spaces.

Deira Mall will be the centrepiece of Deira Boulevard, a new AED5 billion Nakheel community with 16 residential towers, almost 2,900 apartments and extensive retail, restaurant and recreation space. Together, the Mall and Boulevard will have around 4.5 million sq ft of shop space. A construction tender for Deira Boulevard was released last month.

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 in full swing, with the project due for completion in 2018.  All units at the Night Souk are fully leased.

Deira Islands itself will add 40km, including 21km of beachfront to Dubai’s coastline and pave the way for hundreds of tourism, leisure and residential developments including hotels, resorts, serviced apartments, mixed-use buildings and waterside homes.

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Media contact: Rebecca Rees on +971 4375 9702 (Rebecca.rees@nakheel.com )

About Nakheel (www.nakheel.com )
Nakheel is one of the world’s leading developers and a major contributor to realising the vision of Dubai for the 21st century: to create a world class destination for living, business and tourism. Nakheel continues to deliver and enhance an iconic portfolio of innovative landmark projects in Dubai across the residential, retail, hospitality and leisure sectors.

Our master developments include Palm Jumeirah, The World, Deira Islands, Jumeirah Islands, Jumeirah Village, Jumeirah Park, Jumeirah Heights, The Gardens, Discovery Gardens, Al Furjan, Warsan Village, Dragon City, International City, Jebel Ali Gardens and Nad Al Sheba.  Together, these span more than 15,000 hectares and currently provide homes for over 270,000 people. Nakheel has more than 21,000 residential units under construction or in the pipeline.

Nakheel’s current and future retail project portfolio covers nearly 17 million square feet of leasable space.  Developments include Ibn Battuta Mall, Dragon Mart 1 and 2, Golden Mile Galleria, Nakheel Mall, The Pointe, Deira Mall, Deira Islands Night Souk, Warsan Souk, Al Khail Avenue, The Circle Mall and Nad Al Sheba Mall, as well as major extensions to Dragon Mart (renamed Dragon City) and Ibn Battuta Mall.  The retail profile also includes several neighbourhood community centres.

Our growing hospitality project portfolio comprises 16 hotels and serviced apartment developments with more than 5,200 rooms between them at various locations in Dubai, including Palm Jumeirah, Deira Islands, Ibn Battuta Mall, Jumeirah Village and Dragon City.

© Press Release 2017