Nakheel says it has started evaluating bids and the contract is due to be awarded within the first quarter of 2014.
The ground preparation work for the development is now complete. It included vibro-compaction, topographic survey and site investigation work. The 136,000-square-metre retail and entertainment complex will be built at the end of the Palm Jumeirah fronds opposite the Atlantis resort.
Nakheel plans to tender construction contracts totalling more than AED6bn ($1.6bn) during 2014, as it continues to move forward with new projects.
Nakheels plans include retail and hospitality projects that will support its existing and future portfolio of residential developments, as well as the Dubai Expo 2020, which is expected to attract more visitors to the emirate.