The local Actco General Contracting has submitted a low bid of AED1.185bn ($323m) for the contract to build the Nakheel Mall development on Palm Jumeirah.

The low bid is about 4 per cent lower than the AED1.234bn price submitted by the local United National Engineering Company (Unec), the second-lowest bidder. The other bidders are the local/Australian Habtoor Leighton Group, the local Gulf Technical Construction Company (GTCC), Beijing-based China State Construction Engineering Corporation, and the local Arabtec Construction.

The 418,000-square-metre Nakheel Mall will be built at the northern end of the trunk of Palm Jumeirah. Due for completion in 2016, the complex will include 200 shops, 4,000 parking bays, two anchor department stores, a nine-screen cinema and six medical clinics. There will also be a roof plaza with 12 fine dining restaurants, as well as several cafes and eateries inside.

The mall is one of several new projects being developed by Nakheel on the Palm Jumeirah. Others include The Pointe, The Boardwalk and Palm West Beach.

In February, the developer awarded a AED375m contract to GTCC to build The Pointe.

The Pointe, Nakheel’s AED800m, 136,000 sq m retail and entertainment complex, will be located at the tip of Palm Jumeirah, opposite Atlantis, and is scheduled for completion in 2016. The project includes a mix of shopping, dining and entertainment facilities, along with a fountain display.

Nakheel expects GTCC, a subsidiary of the local Drake & Scull, to mobilise before the end of February.

The developer plans to tender construction deals totalling more than AED6bn during 2014, as it continues to move forward with new schemes.