Nakheel tipped for hypermarket deal

Nakheel has revealed that its Hypermarkets division is set to sign a deal with an international brand, as part of the company's huge expansion, Retail News Middle East can reveal.

The company, part of Dubai World has four divisions: Shopping Malls, RetailCorp, Food & Beverage and Hypermarkets.

The Hypermarkets division is "dedicated to establishing an international hypermarket that will set the benchmark for the region," and "complements the other retail platforms," according to the company's recent statement.

The company indicated its hypermarket division is set to announce a partnership with a leading international brand in the very near future.

Nakheel announced plans late last month to transform its integrated retail division into the largest shopping mall developer, owner and manager in the Middle East by 2012, and one of the largest in the world by 2018.

Its Shopping Malls division is on the brink of developing 13 million ft² across five mega projects: Palm Mall, Palm Deira, Ibn Battuta Mall Phase II, India Mart and Great Mall Dubai, "a '3-in-1' mall concept' at International City.

"With the success of Ibn Battuta Mall and Dragon Mart, we are in a very strong position to expand the Shopping Malls division of Nakheel Retail across Dubai, and poised to become one of the most successful shopping mall developers, managers and owners in the world."" said Graham Dreverman, group managing director.