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FINANCIAL NEWS
UAE’s Nakheel to add new mall on Palm Jumeirah
12 Jan 2012
(MENAFN) Nakheel’s chairman, Ali Rashid Lootah, said that the property firm would establish ‘The Pointe’, a new shopping mall on the Palm Jumeirah in order to attract more visitors and new residents, reported Gulf News.
Lootah added that the new mall, which would be worth at least USD81.66 million, would include computer-controlled fountains, a public walk, monorail access and boat rides between the new development and Atlantis Hotel.
He also said that the 136,000 square meter mall would be expected to complete by the end of 2013, and it would focus on its food and beverage and leisure offering.
It is worth noting that Nakheel, which completed its restructuring in 2011, is in talks with banks to raise project financing.
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