The Meydan Group recently announced the creation of a joint venture with Sobha Group to develop 4 million square meters (more than 1,000 acres) of prime freehold land into an exclusive destination of key leisure and retail attraction points surrounded by spacious residential communities, within Mohammed Bin Rashid City.
Located alongside Al-Khail Road, adjacent to the Meydan Racecourse and less than 3 km from Dubai’s key financial, leisure and shopping districts, the community named ‘Mohammed bin Rashid City — District One’ will be the closest residential villa and green space development to the Burj Khalifa district.
MBR city had earlier announced that the city will have a park bigger than London’s Hyde Park and a massive “Mall of the World” that would be capable of receiving 80 million visitors a year.
Meydan Sobha FZ LLC is an equally-split joint venture, which includes the development of city parkland, waterways, woodlands and open spaces covering a spectacular 2.4 million square meters (600 acres) of Mohammed Bin Rashid City — District One.
Attraction points feature a 350,000 square meters water park, the largest crystal lagoon body of water in the world with 7km of stunning lagoons and man-made beaches, alongside retail zones, leisure and sports attractions.
This “green heart” for Dubai will be surrounded by 1,500 premium luxury villas — to be delivered in four phases — creating without question one of the lowest-density residential environments in any major international city.
“Meydan Group is delighted to announce this major development jointly with Sobha Group, as we take the first step in delivering ruler’s’ vision for Mohammed bin Rashid City,” said Saeed Humaid Al-Tayer, Meydan ‘s chairman and CEO.
“This flagship development fits in perfect synergy with Meydan ‘s master plan to create an integrated cityscape of upscale residential communities, with all the attraction points and standards of excellence associated with a Meydan development,” he said,
PNC Menon said: “Our partner Sobha Group’s reputation for quality. For more than three decades, Sobha Group has been developing and constructing lifestyle destinations and our partnership with Meydan enables us to deliver that expertise, choice and quality to an entirely new community.”
Menon added: “Together, Sobha and Meydan aim to develop Mohammed Bin Rashid City — District One, into one of the world’s prime residential locations, delivering a new, vibrant ‘green’ heart for this city.”
The joint venture has already commenced construction of the sales center for the new community, anchoring a show village which underscores the tremendous choice of homes on offer.
Three distinct villa identities — Traditional Arabic, Mediterranean and Contemporary — and at least 45 different floor plans ranging from four to eight bedrooms, set against a backdrop of fields, valleys and woodlands, provide a unique opportunity for home owners to be part of one of the region’s most bespoke and sought after freehold developments.
Meydan-Sobha joint venture to develop ‘green heart’ for Dubai
