UAE master developer Nakheel said construction of its third expansion at Dragon City – a Dh169-million ($46 million) showroom and car-park complex – has reached the 80 per cent mark, with completion due in the fourth quarter of 2018.
Managed by Nakheel Malls, the retail arm of the Dubai developer, the 375,000-sq-ft complex comprises 118,000 sq ft of ground floor showroom space – all of which has been leased – and a multi-storey car park for nearly 900 vehicles, said the statement from Nakheel.
The new facility is the latest in Nakheel’s ongoing retail, hospitality and residential expansion at Dragon City which will bring the overall size of the mixed-use development to 11 million sq ft, it added.
Dragon City is already home to Dragon Mart, the world’s largest Chinese retail and trading hub outside China and its sister mall, Dragon Mart 2, which opened in 2015.
Nakheel’s first hotel – an ibis Styles with 251 rooms – opened at Dragon City in 2016 and a 304-room Premier Inn is under construction, said the Dubai developer in a statement.
Meanwhile, Nakheel’s Dragon Towers, a twin-building residential development with 1,120 apartments, is set to break ground in the third quarter this year, it added
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60-storey commerical builidng located along Sheikh Zayed Road.