UAE-based real estate developer Nakheel has announced two new retail projects worth $0.9 (AED3.3) billion on the Palm Jumeirah island, located off the coast of Dubai. The $0.68 (AED2.5) billion ‘Nakheel Mall’ will be located on the beachfront of the Palm Jumeirah, and the $217 (AED800) million ‘The Pointe’ will overlook the Jumeirah Beach Hotel and the Atlantis resort.
The 1 million sqft Nakheel Mall will feature a 200-room state-of-the-art hotel, 200 hotel apartments and a restaurant with a panoramic sea view. The 1.4 million sqft Pointe will be a large-scale complex featuring a combination of retail shops, high end restaurants as well as cafes and patisseries.
The announcement was made after His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE vice president, prime minister and ruler of Dubai, reviewed Nakheel’s future investment projects and gave approval to commence the two projects.
Nakheel announced its results for the financial year ending 31 December 2012, posting a profit of $0.5 (AED2.017) billion, a 57% increase on 2011. Nakheel’s plans for 2013 include the handover of around 3,000 units to customers, investment of $1.7 (AED6.5) billion in new projects to be completed over a three year period, expansion of Ibn Battuta Mall and continued enhancement of existing communities with local facilities including shopping centres and parks.
“2012 has been a hugely successful year for Nakheel, building on the momentum achieved in 2011. Our financial performance reflects the continuous support and commitment by the Government of Dubai and Nakheel’s board of directors to implement a sustainable, realistic long term business strategy. It is also proof that investor confidence is back, and that Nakheel is firmly moving forward and delivering,” says Ali Rashid Lootah, chairman, Nakheel.
Words by Farimah Moeini, Snapchat Head of Industry – Retail and Travel TheJuly 5, 2021 | By RetailME Bureau
Snapchat has been betting big on Augmented Reality’s (AR) retail future consideringJune 22, 2021 | By Jibran Chouguley
Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and
UAE-based Al Maya Group announced that it will be boosting import of
UAE-based grocery retail chain, Grandiose has opened its first hypermarket in Abu
UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand
Locally owned supermarket Spinneys celebrates 60 years of doing business in the
UAE-based Carrefour will become the first retailer in the region to offer new levels
The Organic Farmers’ Market is back in Bay Avenue for its 12th
UAE-based Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah,
Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones
UAE-based Al Maya Supermarkets is hosting a two-week food festival at select
Locally-owned supermarket Spinneys has launched its ‘Power of Plants’ initiative in the
UAE-based REDTAG will launch its specialized, new outlet in City Centre Deira
UAE-based Al-Madina Group opened two new projects, Crown Mall and Mango Hypermarket,
UAE-based REDTAG has launched its latest retail outlet on at Doha’s City Center
UAE-based Carrefour has opened a new store at the world’s busiest international
FILA has opened its new futuristic flagship store in Dubai Mall. The 158m²
UAE-based Times Square Center is getting ready to reveal its newly refurbished,
UAE-based Majid Al Futtaim has officially opened its newest lifestyle and retail
Carrefour has announced that it is expanding its robotic fleet, adding 11
Marking the 200th hypermarket opening in Cairo, Egypt, LuLu is celebrating the
Emerging technologies and IT integration in businesses have been taking place for
British fast-fashion retailer Primark says it has no plans to sell its