Nakheel to build new Dubai community centre

Dubai developer says new facility planned for International City for mid-2015
Nakheel to build new Dubai community centre
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By Andy Sambidge
Sat 03 Aug 2013 12:11 PM

Dubai developer Nakheel is to construct a new, 11,000 sq m community centre at International City as part of its growing portfolio of retail projects.

The new facility, located on the southern side of International City, will contain a supermarket, convenience stores and a selection of restaurants and cafes.

Nakheel said in a statement that it has appointed Dubai-based Arif and Bintoak Consulting Architects and Engineers for the design and supervision of the project, which is expected to be delivered in mid-2015.

A Nakheel spokesman said: "We continue to enhance and improve our communities with facilities that people want - and need. This new community centre will be a welcome addition to International City, providing a much needed neighbourhood venue for convenience shopping, dining and social interaction."

Two other Nakheel community centres, currently under construction at Discovery Gardens and Jumeirah Park, are due to open in early 2014. Both are 100 percent leased.

The developer added that it is also currently evaluating other locations for further neighbourhood centres.

Last month, Nakheel said it made a first-half net profit of AED1.2bn ($327m), up 57 percent on the same period last year.

Revenues for the first half of the year stood at AED4.23bn, up 36 percent, the company said in a statement.

It added that the results "demonstrate the continuing growth and strengthening of the real estate market in Dubai and the return of investor confidence and trust".

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Last Updated: Thu 26 Jan 2017 01:27 PM GST

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