Nakheel signs €132m Nad Al Sheba Mall deal with Metac (AE)

Nakheel signs €132m Nad Al Sheba Mall deal with Metac (AE)

Nakheel has awarded a contract worth €132m (AED595m) for the construction of Nad Al Sheba Mall, its new, 1.4 million square foot shopping, dining and entertainment destination to Metac General Contracting Company. The mall, which will compromise 200 shops, restaurants and entertainment outlets spread across 500,000 ft² of leasable space has a total development value of €183m (AED825m). It is due for completion in 2021.

 

Nad Al Sheba Mall will have supermarkets (Spinneys and Union Co-op), department stores, a multi-screen cinema, medical clinic, fitness centre and a host of restaurants and cafes.

 

Located just off Sheikh Mohammed Bin Zayed Road, the mall will be the vibrant centrepiece of Dubai’s Nad Al Sheba district, a well-populated, ever-growing community with over 11,000 high-end villas.

 

The area includes Nakheel’s own community of 1,572 villas, 468 of which are being built by Metac under a €173.3m (AED781m) contract awarded in 2015. The community has its own clubhouse, pool, sports courts and cycling track. Villas will be available for lease from early 2019.

 

Nad Al Sheba Mall is part of Nakheel Mall’s €4.88bn (AED22bn) expansion that will take its total retail space to over 17 million ft². The construction award comes two months after the company awarded a contract for €930m (AED4.2bn) to build Deira Mall, the biggest mall in the Middle East in terms of leasable space.  

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