Dubai-based master developer Nakheel has awarded construction contracts worth nearly AED2.3 billion for three major projects in its growing retail portfolio.
The company has confirmed the builders of Deira Islands Night Souk, Warsan Souk and The Circle Mall, which, combined, offer nearly 2.3 million square feet of retail space and over 6,700 shopping, dining and entertainment outlets. Details:
• AED1.17 billion contract to United Engineering Construction LLC (UNEC) for Deira Islands Night Souk and Boardwalk
• AED775 million contract to Ginco General Contracting LLC for Warsan Souk
• AED353.75 million contract to Gulf Technical Construction Company LLC for The Circle Mall
Deira Islands Night Souk and Boardwalk
Deira Islands Night Souk will stretch almost 2 km along Deira Islands’ waterfront and boast 5,300 shops and nearly 100 quayside cafes and restaurants.
Located just across from mainland Dubai, the Night Souk will be easily accessible by road and water, and within walking distance of hotels, residences and Deira Mall, Nakheel’s other major retail project at the islands.
All 1.2 million square feet of leasable space at the Night Souk was snapped up by budding Emirati entrepreneurs within five days of its launch. The Night Souk will bring together a new generation of local traders at Dubai’s oldest and most traditional business hub, and is set to be one of Dubai’s biggest new attractions for residents and tourists.
Construction of the Night Souk is due for completion in 2018.
Warsan Souk is a new retail complex with 1,170 shops including two department stores and 30 cafes and restaurants with indoor and outdoor dining.
Located between Sheikh Mohammed Bin Zayed Road and Manama Road, next to International City, Warsan Souk will be a vibrant, modern destination, innovatively-designed as a modern take on the traditional souk. With 650,000 sq ft of retail space, the souk will be spread across eight buildings, each comprising two floors of retail with three-bedroom townhouses – 433 in total – built above.
Already fully leased and due for completion in 2018, Warsan Souk forms part of Nakheel’s Warsan Village gated community of 934 homes, currently under construction.
The Circle Mall
Located at Jumeirah Village Circle, one of Nakheel’s largest master communities, The Circle Mall has 432,000 sq ft of retail space housing 235 shops, a multi-screen cinema, a health clinic, a multitude of cafes and restaurants and a food court.
The Circle Mall, strategically positioned Sheikh Mohammed Bin Zayed Road, Al Khail Road and Hessa Street, will serve hundreds of thousands of people living in Jumeirah Village and surrounding areas, and provide a new leisure destination for residents and tourists across the rest of Dubai. Around half of the leasable space at Circle Mall is booked. Construction will begin shortly, with anticipated completion in early 2018.
Confirmed tenants at The Circle Mall include Spinneys, Oscar Cinemas, Sports Market, Early Learning Centre, Mamas & Papas, Grand Optics, Tips & Toes, Bare Salon and Supercare Pharmacy. Cafes and restaurants coming to The Circle Mall include Jamaica Blue, Café Nero, London Dairy, Wendy’s, Barbecue Delights, Russo’s New York Pizzeria, Nando and Al Arrab.
Nakheel’s retail project portfolio is expected to become the biggest in the UAE, with 10 new large-scale developments and a growing collection of community retail centres on the way. The company has more than 10 million square feet of leasable retail space in the pipeline, adding to the 3.4 million already in operation at its Dragon Mart and Ibn Battuta Mall developments.
Projects range from large malls and souk-style complexes that will attract UAE residents and tourists to local centres that provide a focal point for shopping, dining and socialising for the people living at Nakheel communities.
Nakheel’s large scale projects are: Nakheel Mall, The Pointe and Golden Mile on Palm Jumeirah; Deira Mall and the Night Souk at Deira Islands; Warsan Souk at Warsan Village; Al Khail Avenue and The Circle Mall at Jumeirah Village. Nakheel is also adding huge extensions to Ibn Battuta Mall and Dragon Mart, the first phase of which is fully leased with some shops opening for business this weekend.
Nakheel’s retail expansion strategy – fully aligned with the Government of Dubai’s 2021 vision – is bringing significant new opportunities for both retailers and consumers. This is supported by the positive response from retailers who are looking to expand both international and home-grown brands to meet customer demand.