Nakheel forms joint venture for Dubai shopping mall

07 May 2018
Developer will team up with Al-Nasr Cultural & Sports Club for Al-Khawaneej retail centre

Local developer Nakheel and Al-Nasr Cultural & Sports Club have formed a joint venture to develop a AED300m ($82m) mall in the Al-Khawaneej area of Dubai.

The mall will have a total built-up area of 775,000 square feet, including 330,000 square feet of leasable space.

Managed by Nakheel Malls, the retail subsidiary of Nakheel, the project will have ground floor parking for nearly 700 vehicles and three floors of shops, restaurants and entertainment outlets, including anchor stores, a supermarket, cinema complex, fitness centre, fun zone and food court.

Nakheel is developing other shopping centres with joint venture partners. In early April it signed an agreement with the Sharjah Investment and Development Authority (Shurooq) to develop a AED75m community retail centre in Sharjah.

Design work is under way – and Nakheel says details of the project will be unveiled this year.

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