A new Dhs2.5billion all-purpose shopping complex on the Palm Jumeirah has moved a step closer when the company behind it confirmed all interested parties had submitted bids.

The Nakheel Mall, which has been pencilled in for completion in 2016, will feature 418,000 square metres of retail space, dining and other entertainment. To put that into perspective, Dubai Mall, the world’s largest, boasts 502,000sq metres.

Early plans suggest that 200 shops, 12 fine dining restaurants, two department stores, a nine-screen cinema, 4,000 parking spaces, six medical clinics and a wealth of cafes and traditional mall eateries will make up the complex. It will be situated at the northern end of the Palm’s trunk.

It was announced over the weekend that six proposals for the construction have been received, starting at Dhs1.185 bn. A decision on who will be awarded the contract to start work is expected within three months.

The news is the third of its kind in 2014 for the man-made island, following confirmation this month that will soon start on The Pointe, at the tip of Palm Jumeirah, just across the bay from Atlantis’.

According to Nakheel, the relaxed entertainment complex will be 136,000sq metres in size and house an ‘exciting up-market boutique retail environment, a large number of chic restaurants and cafes and an outdoor walking space’. It will also be accessible by water taxis and via the Palm monorail, which will soon be connected to the mainland tram system.

In January, the go-ahead was given to the creation of an 11km path along the crescent, known as The Broadwalk. Two piers will stretch out 100metres from at both ends of the construction, which also feature more than 20 waterfront food, drink and shopping kiosks.