It would seem excessive to build more malls in Dubai, wouldn’t it? Especially after the official announcement of two new mega-projects - one in the Deira islands and Mall of the World. It is reasonable to presume that Dubai, with its exceptional trading activity and such concentration of money in it, doesn’t need any extra marketplaces. In addition, it is quite hard to comprehend why would anyone build a new megamall in Nad Al Sheba, a perspective, yet only developing area.
However...Nakheel announced the start of designing and construction work towards construction a new megamall exactly here, in Nad Al Sheba, the company’s own project. On the one hand, this induces us to question the necessity of building another tremendous shopping center right next to Mall of Emirates, which has already been acknowledged sensational. And in a few years there will be another colossal shopping giant - Mall of the World.
Very close to Mall of the Emirates, and right near the future Mall of the World in Dubai there will arise a new megamall in Nad Al Sheba. And it seems that competitive environment around it won’t be hindrance to returning investments that will be put into it.
On the other hand, Nakheel is in of the biggest and most successful developers in Dubai, a wealthy company with top notch management. And if Nakheel’s strategists deem reasonable to build a megamall in Nad Al Sheba, there must be some point in that. Let’s try to find common sense in this idea.What will the new mall be like?
According to Nakheel, the new mall will be set on the 130 thousand square meters area. It will host 200 shops, restaurants, a supermarket, boutiques, a cinema with several halls, a medical center and a fitness facility. It’s about 46,5 thousand square meters of trading space.Of course, following the best Dubai traditions, there will be public spaces, parks and sports grounds available near the mall. To sum it up, megamall in Nad Al Sheba is bound to become another location that will attract thousands and thousands of visitors. But is it worth it?
What are the benefits to the Nad Al Sheba area and its developer?
First of all, the megamall will become another effective asset for Nakheel. As for now, the company manages marketplaces totalling $4.36 bln in cost. Nakheel’s management perfectly knows how to turn such malls in moneymaking machines, and there’s no doubt that the new mall will generate solid profit for the company as well.
In addition, this mall will improve the attractiveness of the Nad Al Sheba area. With the mall it will not just be a pack of blocks with 1500 villas, but an independent, all-sufficient separate area. Great for entertainment, recreation and shopping. The area’s residents won’t even need to leave the borough to get all that.
A new megamall in Nad Al Sheba by Nakheel
Take into account more new workplaces for the residents of the area, and also the boutiques, attracting visitors from beyond Nad Al Sheba. It becomes clear that the megamall in Nad Al Sheba will breathe in more life and activity into the project, raising its status significantly. Especially when there’s the main hippodrome of Dubai nearby, and the developer is hoping that the mall will attract many visitors from there as well.
Thereby, both Nakheel and Nad Al Sheba need this mall. Even in such competitive environment, with giants like Mall of the World drawing near, it will definitely pay off. If not with direct profits from the mall, then with investments into the area. The strategists from Nakheel show us a good example of economical practicability...