The sequel—Nakheel weaves a new Dragon’s ‘re’-tale

The sequel—Nakheel weaves a new Dragon’s ‘re’-tale

With plans on increasing retail space in Dragon Mart, Discovery Gardens and Jumeirah Park, Eva Fernandes asks, have Nakheel really regained its footing? And just how will they extend DragonMart?

August 23, 2011 12:54 by Eva Fernandes

So big news from Nakheel today. Well, any news from Nakheel these days is considered big news, quite frankly, but anyway: Nakheel has recently announced its plans to double the size of Dragon Mart.

According to the developer, cinemas, a food court, department stores and a large supermarket will be part of the expansion. Nakheel will add 158,000 sq metres of retail space and 5,000 car parking spaces to the already massive 150,000 sq metre centre Dragon Mart. Whether additional retail space is really what a city with the highest sq metre of retail space per capita, really needs is another question and another ranting feature altogether. The one thing on Kipp’s mind, when we heard of the extension plans was:

How?

How exactly is this additional space going to be constructed? Keeping in mind that the shopping center is currently shaped to appear like a dragon from an aerial perspective, we can’t help wonder what this addition will mean for Nakheel’s fiery dragon? Will the new addition be perhaps shaped as a smaller dragon lady friend? Or maybe that would not be a culturally friendly addition, unless a real marital bond could be proven between the two mythical creatures. What about about building structures that could represent the tufts of smoke emitting from the dragon’s mouth?

Regardless, the construction of the new bewildering addition should begin sometime next year; and the engineering and architecture consultancy will be overseen by Dar Al-Handasah.

NOT JUST THE DRAGON

But it’s not just all about DragonMart. There are also plans for Nakheel to build two shopping centres at Jumeirah Park and Discovery Gardens. At the Jumeriah Park centre, Nakheel is planning on creating 50,000 sq ft of retail space, while the Discovery Gardens community centre will create a 140,000 sq ft area for convenience stores and a recreation centre.

Kipp’s glad to be reporting more positively on the workings of Nakheel again. But wait folks, that is not it: Nakheel chairman Ali Rashid Lootah said the company would launch the $13-billion (Dh48billion) restructuring programme after securing approval by…(CONTINUED TO NEXT PAGE)

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Tags: nakheel, nakheel bonds, nakheel dragon mart, nakheel dragon mart retail space