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: October 23, 2014
UAE. Deflationary reading of data endangers risky assets; Global cues drive GCC markets; Growth scare unsettles investors; Extreme bearishness on oil may be overdone.
date:Posted: October 23, 2014
SAUDI ARABIA. The 2014 study - which outlines the top priorities that concern young Saudis - is key to helping policymakers and business leaders design initiatives targeted at improving the lives of the Kingdom's current and future generations.
date:Posted: October 22, 2014
UAE. 47% of Middle Eastern respondents indicated that they are considering a proactive shareholder engagement policy which can open and sustain a productive dialogue with investors.
dhgate