Published On:December 24 2014
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$1.9 billion contracts to be awarded by Nakheel in 2015.
Nakheel has plans to award contracts worth USD 1.9 billion in 2015. Majority of the contracts will be awarded in Q1 2015, starting with a USD 462 million contract for the Deira Island Mall, according to a report in Gulf News.
The Deira Island Mall is estimated to be completed in three year and will include 600 hotel rooms, 300 services apartment in two hotels and approximately 4,000 parking spaces within the mall.
The report also noted that Deira Islands project will remain Nakheel's key focus area for next year. The Deira residential development consisting of 2,300 units of one bedroom, two bedrooms and three bedrooms is in the pipeline as well.
Apart from the island development, the Dubai-based developer is also planning to release a tender for the extension of Ibn Batuta Mall, which will be a USD 136 million contract for an additional 640,000 square feet of leasable area at the mall. The extension is estimated to be completed within a span of 18 months