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Sat 24 Oct 2015 06:08 PM

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Unit of Dubai's Drake wins $96m deal to build new mall

Nakheel hires Gulf Technical Construction Co to build Circle Mall at Jumeirah Village Circle project

Unit of Dubai's Drake wins $96m deal to build new mall

A unit of Drake and Scull International (DSI) has been awarded a AED353 million ($96.12 million) contract to build a new mall in Dubai.

Gulf Technical Construction Company said in a statement that it has been hired by developer Nakheel to build the Circle Mall at Jumeirah Village Circle in Dubai.

The Circle Mall will comprise 235 shops, a multi-screen cinema, a health clinic, cafes, restaurants and a food court, spanning more than 432,000 sq ft in total built up area.

Nakheel has already announced that about half of the leasable space has been reserved by retailers, with tenants including Spinneys, Oscar Cinemas, Sports Market, Early Learning Centre, Mamas & Papas, Grand Optics, Tips & Toes, Bare Salon and Supercare Pharmacy.

Khaldoun Tabari, CEO and vice chairman of Drake & Scull International, said: “We are pleased to start off the fourth quarter of 2015 on a strong positive note... and we remain optimistic about securing more high profile projects before the end of the year.”

GTCC is currently delivering The Pointe, the Maliha Hospital, the Binary Tower as well as the Al Reef Residences Tower in the UAE.

The project award brings DSI's total backlog to 2.43 billion dirhams ($661.66 million) to date this year, Dubai's second biggest contractor by market value, said.

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