Nakheel unveils three-year plan for Dubai projects worth $3.8bn
Dubai ruler Sheikh Mohammed briefed on developments, which include extensions to Dragon Mart and Ibn Battuta Mall
The Dubai developer Nakheel has unveiled a three-year plan for new and ongoing projects worth $3.8 billion, in a briefing attended by Sheikh Mohammed bin Rashid Al Maktoum.
The Dubai ruler was shown plans for upcoming developments by Ali Rashid Lootah, chairman of Nakheel, according to state news agency WAM.
Nakheel said in a statement that it plans a range of retail, residential and leisure projects across Dubai, with a combined built up area of about 2.1 million sqm.
The projects include a new community in Nakheel’s Deira Islands development as well as planned extensions to the Dragon Mart and Ibn Battuta malls.
A 1.1 million sqm retail, residential and leisure development – the Deira Islands Mall, Towers and Boulevard – is set to become the heart of Nakheel’s four-island waterfront development in Deira.
The new complex will include Deira Mall, a 269,418 sqm retail project, which will be surrounded by the 16-tower Deira Islands Towers community, comprising over 2,400 apartments and townhouses spread over four clusters. The project will also feature a boulevard with a shopping and dining promenade connecting the residences, malls and parks of the development, Nakheel said.
The developer will also build a 603,870 sqm extension to Dragon Mart, featuring retail, residential and hotel facilities, bringing the total size of the complex to about 1 million sqm. The extension will transform the development into Dragon City, which will have more retail space, an area for events and exhibitions, a two-tower residential component and a 250-room hotel.
Additionally, a 436,644 sqm complex will be constructed at Ibn Battuta Mall, which will include a new cinema complex, multi-storey car park, hotel and glass-covered courtyard. The new extension to the mall is under construction and scheduled to open this year, Nakheel said in a statement.
