Deira Mall deal is one of the biggest ever for single project and will complete in 2021
Nakheel has signed a contract with United Engineering Construction (UNEC) for the construction of its Deira Mall project. According to a statement from the Dubai-based master developer, the deal is worth $1.14 billion, which makes it one of the highest-value construction awards for a single project in recent times.
Deira Mall is Nakheel’s new shopping, dining and entertainment destination and is being developed at a total cost of $1.3 billion. Construction is expected to begin in the first quarter of this year with a schedule for completion in 2021. On completion, it is expected to be the largest mall in the Middle East.
“Nakheel’s existing and upcoming developments are playing a vital role in delivering the government of Dubai’s vision. Deira Mall combines cutting edge design, world-class facilities and a stunning location to bring a new dimension to Dubai’s retail sector,” said Ali Rashid Lootah, chairman at Nakheel.
As per Nakheel, one of the mall’s key attractions is its retractable glass roof, which will allow natural light into the mall and can be opened to create an open-air atmosphere during Dubai’s cooler months.
“With its top-flight shopping, dining and entertainment offering, the mall will provide endless attractions for residents of Deira Islands, the wider UAE community and the millions of tourists who visit Dubai each year,” added Lootah.
Deira Mall is part of Nakheel Malls’ expansion drive and will take the firm’s overall retail space to over 1.57 million sqm.