Dubai-based developer Nakheel says it will spend AED2.5bn ($681m) building a new shopping mall on the Palm Jumeirah.

Construction work on Nakheel Mall will start this year, with completion expected in 2016.

The building will have five levels and three basement parking levels with almost 100,000 square metres of retail space, 4,000 parking bays, a 1,000 sq m indoor garden and a 180-metre-high viewing deck with panoramic views of Palm Jumeirah and the Dubai skyline.

Once complete, the mall will have about 200 shops, including a 4,200 sq m supermarket and two anchor department stores, a nine-screen cinema and six medical clinics. The project plan also includes a five-star hotel with 200 hotel room and 200 apartments.

Nakheel said in October last year that construction work on the mall will start this year. The developer  appointed Singapore’s RSP for the design of the mall in April last year. RSP was the consultant on the project when it was originally planned in 2008. South Korea’s Samsung C&T was awarded the contract to build the mall, but it was cancelled in 2009 following the slump in real estate prices in Dubai and the rest of the UAE.