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Tue 30 Aug 2016 08:52 AM

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$1.1bn Deira mega mall to be 'larger than Dubai Mall'

Nakheel putting final touches on design before project is put out to tender

$1.1bn Deira mega mall to be 'larger than Dubai Mall'
Ali Rashid Lootah, chairman of Nakheel.

A $1.1 billion mega mall in the Deira district of Dubai is set to revitalise the retail sector in one of the oldest parts of the city, the chairman of developer Nakheel has said.

The Deira Islands Mall will be around 600,000 square metres in size, making it larger than the city’s largest shopping centre, Dubai Mall.

“The Deira Islands Mall contract should come to Dh4 billion ... even more,” Ali Rashid Lootah told Gulf News. “I’m hopeful we will be in a position to finalise it soon.

“There’s no new retail space in that part of the city; and that’s why available real estate there tends to be much more expensive on the other side of town [New Dubai], which is where all the recent developments have concentrated. And you have people continuing to pay extremely high prices for Deira properties.”

Lootah said that Nakheel was currently working on final designs for the mall, which should be put out for tender shortly.

Earlier this month, the master developer announced that it had started work on a $245 million resort and water park at the Deira Islands project.

Infrastructure and coastal works are well under way at the megaproject, which will add 40 km, including 21 km of beachfront, to Dubai's coastline.

Nakheel is also developing Deira Islands Night Souk, among other new attractions at the 15.3 sq km waterfront development.

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Shanti 3 years ago

Deira City Centre is there and the good old Al Ghurair Centre is there. What's the need for another large Mall there? Such huge malls are no more any attraction to the people. Most of the shops at such huge malls do not attract much customers as their price tags are too high as the rents are higher there. So after first few months, the malls are haunted or people just walk around. Instead small shopping souq like culture that concentrates on cottage industries, village artisans, local produce, showcase local talents and more such activities will pull crowd. These malls, with too many attractive walls and ceilings and huge showrooms with far eastern sales people are the scene in the malls which are no more interesting. I wish the promoters try something different.

Simon 3 years ago

It would not surprise me at all if Nakheels 'Dragon Mart' did more business than most large shopping malls. I would like to see more 'Dragon Mart' type concepts, on a smaller scale, than burgeoning luxury shopping malls that quite frankly do not serve the majority of Dubai residents.

Shanti's comments are on the mark and I too would like to see more 'inclusion' shopping concepts than the over-done shopping mall bandwagon we have now.

Bill 3 years ago

More malls for all!

Shanti 3 years ago

Thank you.

If I go to my home country, I would love to visit small shoppers' local market if my friends ask "shall we go to a mall?" I just hate malls. No more shopping at malls unless some serious electronics purchases.

Dragon Mart concept like real shopping would be definitely welcomed than the luxury ones. If one visits Wafi Mall, there is literally no one there unless some activities take place.

Wish the authorities take note of these.

Bill 3 years ago

So I see there is also a recent announcement for the 'Mall of the World' project to take shape again. I wonder how many 'biggest malls' that Dubai can stomach?

Mike Hunt 3 years ago

Personally I don't see the benefit of having yet another mall being built. Especially a mall that is going to be bigger than the dubai mall. Maybe "Nakheel" should spend less money on projects such as a Deira 'Mega Mall' and more money on providing proper, safe and clean housing for their thousands of blue collar workers. Sorry labourers. And while they're at it raise their low salaries

Hugh Janus 3 years ago

Good point well made.

Harry Ballzac 3 years ago

While we all want to see improved housing for laborers (are as far as I read inspected regularly by the government) the fact remains that builders / developers will cater for demand and the folks with the cash believe there is still gold in them there malls.

breakbreakbreak 3 years ago

u just decided the fate of the mall in just a comment.
not just you did that, you also spoke for 9 million people residing in 83000 sq km uae. they all are bored arent they?

it is true ecommerce is getting strong , but that does not mean in near future investing in malls is a bad idea, considering the sheer population in such a small space.

Bill 3 years ago

@Mike. A commendable statement, which is ideal in a perfect world. But let's get real. Do you think Nakheel will do that and not want to enjoy favourable returns on their latest and greatest investment? Housing for blue collar will not yield profits and will lower their image as a developer for (quality?) products.