Nakheel signs US$7.5 million contract for Jumeirah Park Community Centre
Source: BI-ME , Author: Posted by BI-ME staff
Posted: Sun July 1, 2012 12:20 pm

UAE. Nakheel today signed an AED27.5 million (US$7.5 million) contract for the construction of Jumeirah Park Community Centre, a new, 10,600 sqm facility in the company’s growing retail portfolio.
 
Nakheel has appointed Parkway International Contracting as main contractor for the community centre, which will primarily serve 4,200 homes in Jumeirah Islands, Jumeirah Village Triangle and Jumeirah Park.  It will include a Geant supermarket, cafes, a pharmacy, dry cleaner, salons and other everyday convenience stores.
 
Construction of Jumeirah Park Community Centre – one of several developments in Nakheel’s retail expansion pipeline – will begin immediately, and is expected to be completed in 12 months. 
 
The company has already leased most of retail outlets at the centre, with anchor tenant Geant taking 2,400 sqm – almost a quarter of the available space.
 
Sanjay Manchanda, Acting CEO of Nakheel, said: “Neighbourhood malls are a key part of our business plan. We are enhancing our communities with convenient, local facilities that people want and need.”
 
Confirmed tenants for Jumeirah Park Community Centre include Geant, Early Learning Centre, Bin Sina Pharmacy, Barakat Optical, Gloria Jeans, Pizzaro, Burger Fuel, Café de Roma, Photo Magic, Geekay Games and Holland and Barrett.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: September 23, 2014
TUNISIA. Removing the economic obstacles would double employment creation to 100,000 new jobs per year, according to a new report from the World bank.
date:Posted: September 23, 2014
INTERNATIONAL. Currency debasement is often done by inflating the money supply through QE; When a currency is debased, a unit of that currency doesn't buy the same amount of stuff that it once did.
date:Posted: September 23, 2014
UAE. The broad based recovery witnessed in the residential sector over the past 18 months has now slowed down, as rental prices and sale values have stabilized in most locations.
INTERNATIONAL. The United States and several Gulf Arab allies launched air and missile strikes on Islamic State strongholds in Syria on Tuesday, U.S. officials said, opening a new, far more complicated front in the battle against the militants.
dhgate