Nakheel has struck a deal with Landmark Group to bring 25 retail brands to its Al Khail Avenue mall being developed in Dubai’s Jumeirah Village.
It includes Home Centre, Centrepoint, Emax, Fun City, SportsOne and Candelite, which combined cover nearly a fifth of the mall’s entire space.
Al Khail Avenue, which started leasing in January, is about 50 per cent leased, said a Nakheel spokeswoman.
The mall is due to open in 2018 and construction is expected to start this year, with a tender within weeks.
“With the population in areas such as Mirdif, the Palm, Sports City, Jumeirah Village Triangle and Circle increasing in line with new residential development, there is a need to provide more local or convenience retailing to service their day-to-day requirements,” said Craig Plumb, the regional the head of research at JLL.
“With the market facing significant levels of new supply and visitor arrival numbers growing at a reduced rate reflecting the strength of the US dollar, we expect rents to stabilise at current levels over the next one to two years.”
By the end of 2017, the emirate would have at least 219,000 square metres of leasable space, according to JLL. Nakheel alone will add 11.24 million sq ft of leasable space with 10,430 outlets by the end of 2018 – on top of the 2.5 million sq ft it holds as part of Dragon Mart and Ibn Battuta Mall.
Al Khail Avenue will also feature a 14-screen multiplex from Reel Cinemas, along with the supermarket chain Waitrose. The mall will have 350 shops and a car park with 4,400 spaces.
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