Dubai-based developer Nakheel says it will be leasing approximately 492,000 square feet of retail, dining and entertainment space at the Al-Khail Avenue on 18 January.
Located at Nakheels Jumeirah Village Triangle community, the mall will have 350 shops including a supermarket, department stores and an entertainment zone as well as a number of dining units. There will also be a five-level car park for more than 4,400 vehicles.
Nakheel expects to issue a construction tender in the first quarter 2015, with project completion anticipated in 2018.
Al-Khail Avenue is the latest project in Nakheels growing portfolio of retail developments. The company has almost 7m square feet of leasable space in the pipeline.
There are malls underway at the Palm Jumeirah, Deira Islands, Jumeirah Village Circle as well as major extensions to Dragon Mart and Ibn Battuta.
In the third quarter of 2014 Nakheel completed work on the Discovery Pavilion and Jumeirah Park Pavilion, both of which offer 19,300 square metres or retail space combined. Such projects aim to increase revenues for property developers beyond cyclical residential sales, rather than serving the growth of the retail sector.