Dubai developer Nakheel has announced the award of a contract worth more than $326m for the construction of Nakheel Mall, its new retail hub to be built on Palm Jumeirah.
UAE firms United Engineering Construction (UNEC) and Actco General Contracting Company are now set to build the new complex.
It will have five retail levels with more than 100,000m2 of shop space, three basement parking levels with 4,000 spaces, 200 shops, two department stores, a nine-screen cinema, medical centre and fitness complex.
The project is expected to be completed in 2016.
The company is also developing The Palm Tower, a new, five-star, 50-storey hotel and residential complex alongside Nakheel Mall.
It includes 504 residences and a 290-room hotel occupying the first 18 floors of the building.