Nakheel To Build Dh75m Community Mall In Sharjah

Dubai: Nakheel is taking its development expertise to Sharjah, where it will build a Dh75 million community retail centre, something that it has been specialising in at its Dubai projects.

This follows an agreement signed with the Sharjah Investment and Development Authority (Shurooq).

The development will be located in the Al Rahmaniya district.

“Retail centres are an integral element of residential communities and essential for community development,” said Sanjay Manchanda, Nakheel’s CEO. “They bring a wealth of benefits to residents and their neighbourhood by including by enhancing well-being among residents and providing a sense of belonging, connectivity and interaction. In the long run these amenities also help increase property values.”

The project will be developed by Nakheel and managed by its retail subsidiary, Nakheel Malls. Its retail portfolio currently includes 11 large-scale concepts and seven neighbourhood retail hubs, known as Nakheel Pavilions, like the one to be built in Sharjah. Design work is underway, and details will be released this year.

According to Marwan Bin Jasem Al Sarkal, CEO of Shurooq, “Sharjah’s real estate and retail market continues to experience sustainable boost and investment diversification.”