iNVEZZ.com has recently published an article headlined “Demand for Nakheel Mall Stores Exceeds Supply by 2-to-1”
,which is covering an announcement made by leading Dubai property developer Nakheel. Citing regional media, the investment portal informs that since the development of Nakheel Mall was announced last month, the company has received lease applications from local and international retailers that already exceed the total number of spots available at the retail complex by two-to-one.
iNVEZZ.com cited a senior company official, who disclosed that Nakheel is currently reviewing 420 lease applications from retailers, which is more than double the number of spots available at the development. Reportedly, adding to the mix of established local and international brands, prospective tenants at Nakheel Mall also include new brands from
Singapore and Europe looking to enter the Dubai property market for the first time.
The investment portal further reports that Nakheel is now studying the "rental grid” of the mall. The developer has hired a third-party company to recommend lease rates for the stores at the Dh2.5 billion (£449 million) mall.
The iNVEZZ journo also reveals some details of Nakheel’s project and the company’s growth strategy. According to a company statement issued in February, the retail segment of the Dubai property market is one of the most promising in terms of growth. iNVEZZ.com also provided the most likely motive for the company to focus on this part of the real estate market, saying Nakheel saw its retail income rising 25 percent last year.
The iNVEZZ.com news item concluded with the opinion of a senior representative of the Dubai property developer who had described the emirate’s retail real estate market as “alive and kicking.”
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