Meydan Group and G&Co are in tandem to build a Second Residential Complex in Meydan City
23/03/2013
Both the Meydan Group, a Real Estate Company based in Dubai and owner of the world’s one of the largest and most luxurious integrated racing, lifestyle & economic cores, and the G&Co, a sub-developer of the group and owned by Joseph Ghossoub which is one of the popular advertising personalities in the Middle East region, have recently unveiled their plan to build the second luxury residential complex development in Meydan City. The name of the project will be a Millennium Estates worth of AED1.2 billion, which is set to be completed two years from now.
According to their plans, both of them have different works to do in order to put the project into reality, such as the Meydan Group is responsible for building roads and infrastructure; while the G&Co is to build hundreds of villas or 198 luxury villas that have a total built-up area of more than 3.8 million square feet.
As Head of Commercial and Free Zone at Meydan, Mohammad Al Khayat explained that there was a new project launched in October 2012. It was the Hadeeq Shaikh Mohammad Bin Rashid which is considered a ‘green living project’ that has the following features: lagoons, canals, horse riding trails. For this reason, he added that there will never be having a competition among the developments because they have different end-users, designs, and prices.
In comparison, the villas of the newly-launched project, Millenium Estates, have been designed in three different styles. They will be available on the freehold basis as well as their prices will be around AED1, 063 per square ft in gloss area. In addition, their sizes will range from 5,400 square feet to 6,800 feet. Then, once the investor wants to purchase one of the villas, he needs to pay first the 10 per cent of Booking Fee; and followed by another 10 per cent after 60 days; 5 per cent after 120 days; and the remaining 75 per cent will be during the handing over of the property.
According to their plans, both of them have different works to do in order to put the project into reality, such as the Meydan Group is responsible for building roads and infrastructure; while the G&Co is to build hundreds of villas or 198 luxury villas that have a total built-up area of more than 3.8 million square feet.
As Head of Commercial and Free Zone at Meydan, Mohammad Al Khayat explained that there was a new project launched in October 2012. It was the Hadeeq Shaikh Mohammad Bin Rashid which is considered a ‘green living project’ that has the following features: lagoons, canals, horse riding trails. For this reason, he added that there will never be having a competition among the developments because they have different end-users, designs, and prices.
In comparison, the villas of the newly-launched project, Millenium Estates, have been designed in three different styles. They will be available on the freehold basis as well as their prices will be around AED1, 063 per square ft in gloss area. In addition, their sizes will range from 5,400 square feet to 6,800 feet. Then, once the investor wants to purchase one of the villas, he needs to pay first the 10 per cent of Booking Fee; and followed by another 10 per cent after 60 days; 5 per cent after 120 days; and the remaining 75 per cent will be during the handing over of the property.
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