Nakheel, Dubai developer Nakheel has revealed a three-year plan for new and current projects worth $3.8 billion.
The Dubai ruler, Sheikh Mohammed bin Rashid Al Maktoum, was presented plans for future developments by the chairman of Nakheel, Ali Rashid Lootah.
Nakheel disclosed in an account that it designs a range of retail, leisure and residential projects across Dubai, with a mixed built up area of roughly 2.1 million sqm.
The projects consist of a new community in Nakheel’s Deira Islands development including designed expansions to the Dragon Mart and Ibn Battuta malls.
A total of 1.1 million sqm retail, leisure and residential development, the Deira Islands Mall, Towers and Boulevard, is arranged to become the centre of Nakheel’s four-island waterfront development in Deira.
The new complex will comprise Deira Mall, a 269,418 sqm retail project, which will be enclosed by the 16-tower Deira Islands Towers community, consisting of above 2,400 apartments and townhouses spread over four clusters. The project will also include an avenue with a shopping and dining boardwalk linking the mass, residences and parks of the development.
The developer will also construct a 603,870 sqm extension to Dragon Mart, including residential, retail and hotel facilities, giving the total size of the complex to around 1 million sqm. The extension will change the expansion into Dragon City, which will have additional retail space, a section for events and exhibitions, a two-tower residential section and a 250-room hotel.
Furthermore, a 436,644 sqm complex will be built at Ibn Battuta Mall, which will highlight a multi-storey car park, new cinema complex, hotel and glass-covered courtyard. The new development to the mall is under construction and planned to open this 2015.