Nakheel unveils mall domination plans

MALL DOMINATION: Nakheel is investing billions of dirhams in a bid to become the largest shopping mall developer in the Middle East. (Nakheel)

Nakheel said on Sunday it would develop 100 shopping malls over the next 20 years to serve its planned three million-strong Dubai communities.

“We are investing billions of dirhams in malls development to strengthen our retail portfolio and with 13 million square foot retail development, we are going to become the largest shopping mall developer in the Middle East,” group managing director of Nakheel Retail Graham Dreverman told UAE daily Gulf News.

"The number of shopping malls will cross 100 in the next 20 years to cater to the three million-strong communities being built by Nakheel."

The shopping malls division of Nakheel Retail provides planning, development and management services for retail opportunities within and around the group’s residential developments.

New developments include the Palm Mall, Palm Jumeirah, to be followed by Palm Mall, Palm Deira, an “enormous retailing precinct planned for the first phase of the Palm Deira,” Dreverman continued, adding the Ibn Battuta Mall would be doubled in size through Phase II expansion.

Other plans include India Mart, an Indian wholesale, retail and entertainment precinct, and Great Mall Dubai at International City.

The company is also set to announce a tie-up with a global retail chain to manage hypermarkets across the GCC, and plans to roll out more than 300 restaurants across the Mena region over the next five years under the Nakheel Retail Food and Beverage arm, Deverman told Gulf News.

Print | Email | Discuss this article

| Share |

READERS' COMMENTS

Mall Domination
Posted by UmmSalam, Dubai, UAE on Tuesday 22 April 2008 at 20:51 UAE time

This is crazy! Someone needs to stop them. Not only does Nakheel want to build a taller skyscraper than the Burj Dubai (what country/city in the world looks to out-do itself like this?), but now it wants to flood the already over-saturated mall market of Dubai/UAE with more malls. Can't they think of any better way to spend their money to develop the people of UAE and the country?

Click here to post a comment

Add your Comment All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Name *
Remember me on this computer
Email *	(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments
Enter the words above *
Please click post only once - your comment will not be published immediately.

MORE FROM ARABIANBUSINESS.COM