United Engineering Construction has clinched a AED 4.2bn ($1.14bn) construction contract to build the biggest mall in Dubai.
Master developer Nakheel awarded the deal to build Deira Mall which will have a total investment of AED 6.1bn.
Construction will begin in Q3 this year with completion expected in 2020, the developer said in a statement.
Vibro-compaction work is under way on the site located on Deira Islands, Nakheels new, 15.3 sq km waterfront city.
The four-island development, which will transform the area traditionally known as Old Dubai into a world-class retail, tourism, living and leisure hub, will be home to more than 250,000 people when complete.
With four million square feet of leasable area, Deira Mall will be the biggest in Dubai in terms of shop space. It will feature over 1,000 shops, cafes, restaurants and entertainment outlets across three floors.
The project will have a total built-up area of 10.3 million sq ft, including a 3.8 million sq ft multi-storey car park with 8,400 spaces.
The development will also boast a retractable roof, bringing natural light into the complex and allowing open-air shopping in cooler months.
Deira Mall will be the centrepiece of Deira Boulevard, a new AED 5bn Nakheel community with 16 residential towers, nearly 3,000 apartments and extensive retail, restaurant and recreation space. A construction tender for Deira Boulevard was released in January this year.
Nakheel is also building Deira Islands Night Souk, set to become the worlds largest night market, with 5,300 shops and almost 100 quayside cafes and restaurants. Construction is in full swing, with the project due for completion in 2018.