Developer appoints United Engineering Construction to build the mall extension
Nakheel, the Dubai owned developer, said on Thursday that it planned to start construction on a $272m extension to the Dragon Mart mall on the outskirts of Dubai, near International City.
The news comes after the troubled developer swung to a profit in the first quarter of 2012, amid nascent signs that the emirate’s battered real estate market was recovering.
The second phase of Dragon Mart is the latest in a number of retail projects that Nakheel is undertaking. Among these projects are a $6.8m retail complex, and a restaurant, retail and entertainment hub opposite the Atlantis hotel, both on its showpiece development, Palm Jumeirah, Zawya Dow Jones said in a report.
“Construction on [Dragon Mart Phase 2] is expected to start shortly on obtaining the necessary regulatory approvals,” Nakheel added in a statement.
The developer said that contracts worth $163m were being awarded for the construction of the extension.
United Engineering Construction (UNEC), has been selected to build the new mall, Nakheel said. In addition, two contracts were awarded to Kele Contracting. The first was for the construction of the 240 room Dragon Mart Hotel and the second for a multi-storey car park for 2,000 vehicles.
Scheduled to be completed in Q3 of 2013, the shopping mall will double in size with the extension, covering 335,000m2.