Nakheel to build a shopping centre at Al Furjan
Jumeirah Park and Discovery Gardens will get community centres by early 2014
Dubai: Property developer Nakheel is planning to open a shopping centre in its Al Furjan residential development, the company said in a statement on Monday.
Nakheel has completed and handed over all 819 homes in Al Furjan, which is located close to Discovery Gardens and Ibn Battuta Mall.
“We are on track to hand over 3,000 units across several of our communities — including Al Furjan — in 2013,” a Nakheel spokesperson said in the statement.
The retail centre will cover an area of 30,000 square metres and offer shops, cafes and meeting areas. A launch date will be announced soon, according to the statement.
Nakheel is also expected to deliver two community centres in Jumeirah Park and Discovery Gardens by early 2014.
Property analysts said the developer is working on servicing residents of its new residential developments.
Craig Plumb, head of research for the Middle East and North Africa (Mena) at property consultancy Jones Lang LaSalle (JLL), said the retail centres “enhance the value of the residential developments [and act as] a support facility for people living there”, adding that areas such as Jumeirah Park and Al Furjan are not properly served with shops.
Plumb said Nakheel is looking at launching small retail projects to add to its bigger developments that include Ibn Battuta Mall and Dragon Mart. The added retail will make the residential developments attractive to tenants and “make them a better investment,” he said.
Mat Green, head of research at property consultancy CBRE for the UAE, echoed Plumb’s view. He said the small community centres act as “income generating assets” for property developers. “This is a trend we see with [new] masterplan communities,” Green added.