Nakheel aims to attract young Emirati entrepreneurs to occupy its latest retail development of more than 1,000 shops and restaurants.
The Palm islands developer yesterday launched and leased 90 per cent of its Warsan Souk project close to its vast International City development.
Spread across eight buildings, Warsan Souk will have more than 1,000 shops, including two department stores.
There will also be more than 30 cafes and restaurants.
The developer behind some of Dubai’s most high profile property projects is focusing on the recurring revenues of the retail sector as it seeks to reduce its reliance on property sales.
Nakheel said it had leased 90 per cent of the available units. Earlier this month it leased more than 5,000 units at the Deira Islands Night Souq.
Deira Islands is a four-island waterfront city which is set to include 21km of beachfront.
All four islands will feature hotels, resorts and residential, commercial and retail units.
Attractions will include the Deira Islands Mall, a 250-room hotel, an amphitheatre for 30,000 people and a marina.
More than 280,000 people are expected to eventually live there, and the projected number of new hotel rooms is 50,000.
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