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The Gardens Shopping Mall being developed by Nakheel on Shaikh Zayed Road will eventually have a second phase expansion, which could add another one million square feet of built up area to the present 1.6 million square feet, according to a top official.
"Given the kind of feedback that we have had from retailers who could not get in during the first phase, it is inevitable that we have to look to an expansion at some stage in the future," said Andrew Chambers, general manager.
"But we will give some time for the market to absorb the launch of the mall on February 26 next year before taking the decision to go for additional space."
Entering the final phase of its development, the Gardens Shopping Mall has been conceived as the "largest" themed facility of its kind in the world, borrowing elements from Arabic, Far Eastern and European lore in its architecture and settings.
It will also have the region's first IMAX cinema, plus 20 other screens, making it the biggest cinema destination in the region.
All available retail space has been sold out prior to launch. In fact, the developers had raised the area from the initially planned 1.2 million square feet to 1.6 million square feet.
"There were some changes made to the original extension designs. Ho-wever, the whole project is moving ahead on schedule," added the official.
The launch of the mall ties in perfectly with the development of the entire area around which it is coming up. Some estimates place the potential consumer base that the mall can tap into at over 100,000 in another three to four years.
Then there are visitors coming in from Abu Dhabi and some of the other Gulf markets, potentially a very lucrative market.
The Gardens Shopping Mall has another first to its credit. "We were the first to bring in the concept of annual lease rates as a per centage of the retailers' revenues in a big way. We have earned the retailers' trust that they can be a partner in the future success of the development," said Chambers.
"The rates are quite competitive with what is there in the market right now for that location and the kind of features that the mall offers."
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