Bids invited for infrastructure contract ahead of construction tender, which is expected to be issued by the end of June
Nakheel, the Dubai-based real estate developer, has released a tender for enabling works for Al Khail Avenue, a 334,451sqm retail, dining and entertainment hub in Dubai’s Jumeirah Village Triangle.
The scope of the tender covers infrastructure services relocation, shoring works and excavation ahead of the construction of the shopping mall, which is scheduled to open in 2018. Nakheel has said that it will release the tender for construction of the project by the end of June.
Al Khail Avenue will be located on the eastern edge of the Jumeirah Village Triangle master community. The mall will consist of 350 shops, including a supermarket, department stores and speciality outlets. A multi-screen cinema, entertainment zone and eateries will also be built as part of the project. There will also be a multi-storey car park that will accommodate 4,000 vehicles.
The retail and entertainment project is one of 10 large-scale developments in Nakheel’s portfolio. The developer said in a statement that the project would provide an entertainment and leisure hub for the tens of thousands of people living in Jumeirah Village, Jumeirah Park and other nearby areas.
Other retail projects under Nakheel’s banner include malls and souqs being built on Palm Jumeirah, Deira Islands, Jumeirah Village and Warsan Village. Major extensions are also being built for Dragon Mart and Ibn Battuta Mall.
Six neighbourhood retail centres are also being developed further at various communities across Dubai.
In January 2015, Nakheel announced its results for the financial year ending December 31, 2014. It posted a profit of $1 billion, a 43% increase from the $700 million posted a year earlier. The increase came despite a fall in revenue, which dropped by almost a quarter compared to 2013, to $1.9 billion.
Nakheel attributed the drop in revenue to the completion of fewer homes than it had the previous year. In 2014, the developer handed over 1,117 units – compared to 3,150 in 2013.