Meydan Sobha has founded multi-purpose
MBR City. MBR abbreviates Mohammad Bin Rashid. Meydan Sobha is a joint venture
of Sobha Group and Meydan Group. Sobha Group and Meydan Group have equal shares
in Meydan Sobha. These are Dubai based firms.
There will be 1,500 lavish villas in AED21,000,000,000
worth Mohammad Bin Rashid City. MBR City will develop its water park on a 350,000
square meters area. This gigantic area of MBR City water park makes it the
largest lagoon of transparent water in the world. There will be retail zones,
sports attractions, leisure facilities, artificial beaches, and seven
kilometres of lagoons.
This project has four phases. These four
MBR City phases will take six to eight years to complete.
Meydan District One is the other name of
District One in MBR City. The world’s largest shopping mall will adorn District
One. A family centre the focusing leisure
and entertainment will add glitter to
gold. Universal Studios HollyWood will collaborate in setting this family
centre up. The public park of District One will outshine Hyde Park of London in
area. There will be over 100 hotels. With laying foundation of District one, Dubai Properties Group, Dubai Holding,
and Emaar Properties have advertised selling
of villa plots in MBR City.
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Saeed Humaid Al Tayer says that Meydan
has already started preparatory work. He
is chairman of Meydan. The month of October will see Meydan Sobha completing
nine villas.
PNC Menon said that the in-house
construction company of Sobha Group would construct villas. He is chairman of
Sobha Group. Sobha Group has a thirty-year construction and developing
lifestyle destinations experience. Sobha Group cooperation with Meydan Sobha will
enable Sobha Group to serve quality and choice purposes in MBR City.
Meydan Sobha will develop District One on
4,000,000 square meter area. It is a prime
freehold land. It borders Al Khalid Road. It is a neighbour of Meydan
Racecourse. Its distance from key financial, shopping, and leisure districts of
Dubai is less than three kilometres or two miles.
Investors will have three villa
identities to select from. These will be
Contemporary, Mediterranean, and last but not the least, Arabic. There will be minimum forty-five dissimilar floor plans. The
bedroom count will range from four to eight.
The minimum price of one square foot of
villas will be AED1,800. The maximum price will be AED2,500. Ajey Rajendran
revealed it to Emirates 24/7. He is Sobha vice-chairman.
Chairman of Meydan said the joint
venture would arrange almost half funds
for the project. He meant from 40 to 50%. Al Tayer added that many financial institutions
are waiting in the wings to finance
District One project. Besides, Al Tayer said that he would welcome investors
and firms to finance District One and give benefits in return.
There are further attractions in
District One. This Meydan Sobha project will use an area of 35 hectors to
develop a network of crystal lagoons on it. There will be water features. This
network is one component of District One master plan. This network will complete
65% of open and green space. Homes and amenities will avail this space. This
availing will conform to District One master plan. Residents here will be able
to play tennis, basketball, rugby, and football. Equestrian facilities are
nearby. Entertainment facilities are nearby too.
