Arab Today, arab today nakheel plans new mall on the palm to attract tourists
Last Updated : GMT 23:48:41
Arab Today, arab today
Arab Today, arab today

Nakheel plans new mall on the Palm to attract tourists

Arab Today, arab today

Arab Today, arab today Nakheel plans new mall on the Palm to attract tourists

Dubai - Arabstoday

Nakheel is looking to draw more tourists and new residents to the Palm Jumeirah with the addition of a new shopping mall. Located at the tip of the Palm Jumeirah, across the bay from Atlantis Hotel, ‘The Pointe\' will focus on its food and beverage and leisure offering. The 136,000 square metre mall will also feature computer-controlled fountains, a public walk, monorail access and boat rides between The Pointe and Atlantis Hotel. \"It will be a real tourist destination not only for The Palm residents but also for visitors. The population on the Palm Jumeirah is around 30,000 and we expect that to grow with all these new amenities. There will be new ideas which will enhance the Palm Jumeirah. These will be announced in the second half of this year,\" Ali Rashid Lootah, chairman of Nakheel, said. Raising bank finance Article continues below According to Lootah, the development will be worth at least Dh300 million. Nakheel is currently in talks with banks to raise project financing. \"We have all the financial options available. We\'re in talks with banks who are showing interest,\" Lootah said yesterday. The project aims to be completed by the end of 2013. Nakheel is also due to begin work on the Palm Jumeirah\'s other retail offering, the Palm Mall, which will add a further 800,000-900,000 square feet of leasable retail space to the development. \"We hope we can launch it this year. Realistically, we would probably be able to launch sales in mid to end of February,\" Lootah said. This year, Nakheel is focusing on developing its retail offering. In August, it announced its plan to more than double the size of Dragon Mart Mall by adding 1.7 million square feet of retail space and 5,000 parking spaces. According to Lootah, their expansion plans at Dragonmart have been met with a positive response, with 60 per cent of the new space already leased out. He also announced plans to expand retail space at Ibn Battuta Mall, details of which will be announced later in the year. Lootah recently said Nakheel was on track to deliver 7,000 units this the year. It has also announced the handing over of 1,000 villas at Jumeirah Village. Nakheel suspended around 100 projects and completed a $16-billion debt restructure when Dubai\'s real estate sector softened. Last year, the developer announced the completion of its restructuring, including $8.71 billion of government debt which was converted to equity last year. Nakheel plans to issue the second tranche of its Islamic bond by June, which will be used to settle contractor claims. Handovers drive profits Nakheel reported a net profit of Dh526 million for the first half of the financial year ending December 31, 2011 on Dh1.5 billion revenues, mainly driven by the handover of properties in a number of projects.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today nakheel plans new mall on the palm to attract tourists Arab Today, arab today nakheel plans new mall on the palm to attract tourists

 



Arab Today, arab today
Arab Today, arab today Nasima Gamei revives Algerian heritage in jewelries

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives Algerian heritage in jewelries
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success
View News in Arabic - Business: عقارات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday