Nakheel to begin leasing mall space to retailers by end of February

Nakheel will begin leasing the first zone in its Nakheel Mall by the end of the month and inviting construction bids before the middle of the year, company officials said.
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The Dh2.5 billion mall is expected to be completed by 2016 and contractors will be invited to bid for its construction before the first half of 2013, Nakheel’s chairman Ali Rashid Lootah said after a presentation by the company to the UAE’s major retailers on the features of the new mall yesterday.

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The developer is considering different finance options for the retail project, a Nakheel spokesperson told Gulf News. The company needs to raise Dh3.3 billion to construct the Nakheel Mall and the Dh800 million The Pointe shopping project on Palm Jumeirah.

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Read more: http://www.zawya.com/story/Nakheel_to_begin_leasing_mall_space_to_retailers_by_end_of_February-GN_03022013_040141/