Dubai developer plans new mega projects

09 April 2015

Dubai developer Nakheel is planning to undertake 23 million sq ft of new residential and leisure projects worth Dhs14 billion over the next three years, the company announced on Wednesday.

Among them is a 12 million sq ft, 16-tower community at Deira Islands, consisting of a 4.9 million sq ft mall, over 2,400 homes (housing 10,000 people), and around 1.7 million sq ft of parkland.

The project also includes the Deira Islands Boulevard, a 400,000 sq ft walkable shopping and dining promenade connecting the residences, mall and parks. The Boulevard will have around 120 outlets.

Nakheel also announced a 6.5 million sq ft residential, retail and hotel extension to its Dragon Mart complex.

Nakheel’s third project involves the addition of a new 4.7 million sq ft complex within the developer’s Ibn Battuta Mall.

The company, which posted a 43% rise in net profit for 2014, has been focusing heavily on boosting its retail, leasing and hospitality businesses.


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