Dubai’s Nakheel awards contract for ‘Middle East’s biggest mall’

Once finished, Deira Mall will offer more than 1,000 shops, cafes, restaurants and entertainment outlets. (Nakheel)
Updated 18 February 2018
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Dubai’s Nakheel awards contract for ‘Middle East’s biggest mall’

DUBAI: Nakheel, the master developer behind Dubai’s Palm Jumeirah island, has signed a contract for the construction of Deira Mall, set to be the biggest shopping center in the Middle East in terms of leasable space.

Nakheel confirmed that United Engineering Construction will build the mall, which will take three years to construct, with a total development value of $1.6 billion.

Once finished, Deira Mall will offer more than 1,000 shops, cafes, restaurants and entertainment outlets across 4.5 million square feet of leasable space, with its star attraction being a state-of-the-art, retractable glass roof.

The centerpiece of Deira Central, Nakheel’s mixed-use community at the heart of Deira Islands, construction of Deira Mall is set to begin by the end of March.

“Deira Mall combines cutting edge design, world-class facilities and a stunning location to bring a new dimension to Dubai’s retail sector. With its top-flight shopping, dining and entertainment offering, the mall will provide endless attractions for residents of Deira Islands, the wider UAE community and the millions of tourists who visit Dubai each year,” Nakheel Chairman Ali Rashid Lootah said in a statement.

The Dubai master developer is also currently constructing Deira Islands Night Souk, which promises to be the world’s largest night market, boasting 5,300 shops and almost 100 quayside cafes and restaurants. The project is due for completion later this year.

Currently the world’s largest mall by total area is Emaar’s Dubai Mall, which covers over 13 million square feet, and is part of the developer’s Downtown Dubai complex.

Spanning 15.3 sq. km, Nakheel’s Deira Islands is expected to be home to more than 250,000 people once completed. The four-island development will add 21 km of beachfront to Dubai’s coastline.


Iraqi oil minister expects prices to rise over time

Updated 10 December 2018
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Iraqi oil minister expects prices to rise over time

  • Ghadhban said the recent fall in Iraqi exports was due to weather conditions
  • “Our goal is to reach an export capacity of 6.5 million barrels per day but over several stages,” he said

BAGHDAD: Iraqi Oil Minister Thamer Ghadhban said on Monday he expected the fall in oil prices to stop and for prices to rise over time, adding that if OPEC had not cut production, prices would have dropped to $45-50 per barrel.
Speaking at a ministry event in Baghdad, Ghadhban said the recent fall in Iraqi exports was not due to technical reasons, as Iraqi oil fields have high capacity, but rather because of weather conditions.
“Our goal is to reach an export capacity of 6.5 million barrels per day but over several stages,” he said.
Speaking about the recent Kirkuk oil deal with the semi-autonomous Kurdistan Regional Government (KRG), Ghadhban said state oil marketer SOMO had received preferential prices, albeit for low quantities.
Iraq last month restarted exports of Kirkuk oil, halted a year ago due to a standoff between the central government and the KRG, after a new government in Baghdad agreed a tentative deal with Irbil.