Nakheel’s aggressive push into Dubai’s retail market shows no sign of abating as it presses on with community malls, with another planned at Al Furjan.
The developer plans to announce the project imminently, according to people with knowledge of the matter.
The second mall at Al Furjan – a development with plans for 2,200 villas near Jebel Ali, built by Nakheel and third parties – follows the first, which is fully leased and set to open next year.
Nakheel’s new mall will sit alongside a growing number of smaller offerings and 10 new large scale developments ranging from the 3 million square feet Deira Mall to the 432,000 sq ft Circle Mall in Jumeirah Village Circle. All the projects are due for completion in the next five years.
The developer of Dubai’s Palm islands plans to more than quadruple its leasable retail space to more than 11 million sq ft from the existing 2.5 million sq ft at its Dragon Mart and Ibn Battuta Mall developments.
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