Nakheel receives bids for new mall on Palm Jumeirah

16 February 2014

Firms submit prices starting at $322.6m

Dubai-based developer Nakheel has received bids from companies for the contract to build its Nakheel Mall development on Palm Jumeirah.

Six proposals were received, with bids starting at AED1.2bn ($322.6m), the company said. A construction deal is expected to be awarded within three months.

The 418,000-square-metre (sq m) 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 Nakheel developments under way at Palm Jumeirah. Others include The Pointe, The Boardwalk and Palm West Beach.

In February, the developer awarded a AED375m contract to the local Gulf Technical Construction Company (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.

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