All 5,300 shops and 96 cafes and restaurants at the Deira Islands Night Souk in Dubai have already been leased, according to the developer Nakheel.
The leasing started on Sunday for the project which features shopping spread along 1.9 kilometres of waterfront and is planned to open in the middle of 2017.
“We are overwhelmed and delighted by the response to our launch of the Night Souk,” said Ali Rashid Lootah, chairman of Nakheel.
“In particular, it is wonderful to see so many young people and so many female investors wanting to be a part of this exciting new project. Around half of the investors are under 40, with some as young as their early 20s.”
Nakheel said that investors queued from 5am today to snap up the remaining units with nearly 200 leases an hour being signed.
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.