(MENAFN) Nakheel’s chairman, Ali Rashid Lootah, announced that the Dubai-based property developer will start inviting bids for the construction of its Nakheel Mall by the mid of the year, reported Gulf News.
He noted that the company is considering several finance options for the construction of the USD680 million project, which is scheduled to complete by 2016.
The chairman said that the mall will cover an area of 1 million square feet, and would comprise 5 levels of retail, a roof top plaza with fine dining restaurants, a Butterfly Park and a direct link to the Marina Residences.
The mall will be linked to a 300-room 5 star hotel with 40 storeys, in addition to a rooftop restaurant, swimming pool and lounge.
It is worth noting that Nakheel will have to raise USD898 million to set up the Nakheel Mall on Palm Jumeirah, and USD217.74 million for The Pointe shopping project. More info