Dubai’s Nakheel awards construction contracts worth $626m
Three major retail projects expected to be completed in 2018
Nakheel, the Dubai-based real estate developer, has announced three major construction contracts worth $626.3 million for its retail developments, including the appointment of the main contractor for the Night Souq at Deira Islands.
Contracts were also awarded for Warsan Souq and The Circle Mall, the developer said. Combined, the three projects will create an additional 213,677sqm of retail space made up of as many as 6,700 outlets.
The $318.5 million contract for the Night Souq and boardwalk at Deira Islands was awarded to United Construction LLC, with a scheduled completion date in 2018. The souq will run along two kilometres of the Deira Islands waterfront, and will be the base for 5,300 shops and more than 100 quayside cafes and restaurants.
Nakheel said all available leasable space was bought up by UAE nationals within five days of its launch.
The Warsan Souq is a complex of 1,170 shops, including two department stores. It is located between Sheikh Mohammad Bin Zayed Road and Manama Road, next to International City. It will offer 60,386sqm of retail space spread across eight buildings, with two floors of retail and 433 three-bedroom town houses built above.
Completion is also scheduled for 2018 and will form part of the Warsan Village community of 934 homes, which is also currently under construction.
Finally, the Circle Mall – located in Jumeirah Village Circle – is a 40,134sqm retail project that offers space for 235 shops, and a multi-screen cinema. Construction is scheduled to begin shortly and Nakheel said completion is expected in early 2018.
