Nakheel has awarded a AED 595mn ($162mn) contract for the construction of Nad Al Sheba Mall.
Metac General Contracting Company will build the 1.4 million sq ft of shopping, dining and entertainment destination, which will have 200 outlets spread across 500,000 sq ft of leasable space.
Scheduled for completion in 2021, the mall has a total development value of AED 825mn, Nakheel said in a statement.
Located just off Sheikh Mohammed Bin Zayed Road, the mall will be the centrepiece of Dubai’s Nad Al Sheba district, a 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 an AED 781mn contract awarded in 2015.
The contract award comes two months after the company penned a AED 4.2bn contract to build Deira Mall, the biggest mall in the Middle East in terms of leasable space.
Nakheel Malls’ portfolio comprises 18 projects, including large-scale malls, souks and neighbourhood retail Pavilions.
Its upcoming projects across Dubai will add 12.5 million sq ft, through thousands of new shops, restaurants and unique attractions, to the mix.