Sobha Group is about to start the construction works for its project in Meydan City
10/03/2013
Before the onset of economic downturn, the Meydan City was launched. It is a development that has a total covered area of 40, 000, 000 square feet and includes hotels, sky-bubble restaurant, entertainment, clubs, concourse plaza, towers, and a boat-house. Then, it was expected to be completed in 2012. However, due to negative impacts of the aforementioned crisis, it is still under construction until now.
Fortunately, when Dubai’s property market started witnessing a consistent and gradual growth, one of the developers who have projects in the above-mentioned development has recently announced that it was about to begin the construction works for its project a few weeks from now. He is PNC Menon, an Indian Founder and Chairman of Sobha Group which is a multinational, multi-product group with particular interests and investments in the following countries: UAE, Qatar, Sultanate of Oman, Bahrain, India, Brunei, and Tanzania.
According to him, he said that the company is currently waiting for the final permission before starting the construction work for its $3 billion project in Dubai that has approximately a total of 8 million square feet of land in which a number of villas, residential apartments, mall, and hotels are planned to be constructed. Based on the report, the company has bought the land from Meydan Group, a builder of the world’s largest horse-rising complex, in 2012.
As the Emirate’s property market has started recovering from financial crisis, it is the reason why Sobha Group has decided to continue its plan to build a property project in the above-mentioned development. Actually, Dubai is now experiencing growth in terms of property and rental prices that increased the demand for properties accordingly. So far, among the projects in that development which have been completed are the Meydan Racecourse, a total of 60, 000-seat grandstand, and the five-star trackside hotel.
Now, as Chairman of Sobha Group, he concluded that real estate market in Dubai will be one of the main verticals of the economy to be driven by hundreds and thousands of expatriates coming in the Emirate; and then he added that because of the latter’s great infrastructure, it is possible to be a story for at least the next two decades. So the company is planning to expand its hotel portfolio not only in the Middle East region, but also in India and Africa.
Fortunately, when Dubai’s property market started witnessing a consistent and gradual growth, one of the developers who have projects in the above-mentioned development has recently announced that it was about to begin the construction works for its project a few weeks from now. He is PNC Menon, an Indian Founder and Chairman of Sobha Group which is a multinational, multi-product group with particular interests and investments in the following countries: UAE, Qatar, Sultanate of Oman, Bahrain, India, Brunei, and Tanzania.
According to him, he said that the company is currently waiting for the final permission before starting the construction work for its $3 billion project in Dubai that has approximately a total of 8 million square feet of land in which a number of villas, residential apartments, mall, and hotels are planned to be constructed. Based on the report, the company has bought the land from Meydan Group, a builder of the world’s largest horse-rising complex, in 2012.
As the Emirate’s property market has started recovering from financial crisis, it is the reason why Sobha Group has decided to continue its plan to build a property project in the above-mentioned development. Actually, Dubai is now experiencing growth in terms of property and rental prices that increased the demand for properties accordingly. So far, among the projects in that development which have been completed are the Meydan Racecourse, a total of 60, 000-seat grandstand, and the five-star trackside hotel.
Now, as Chairman of Sobha Group, he concluded that real estate market in Dubai will be one of the main verticals of the economy to be driven by hundreds and thousands of expatriates coming in the Emirate; and then he added that because of the latter’s great infrastructure, it is possible to be a story for at least the next two decades. So the company is planning to expand its hotel portfolio not only in the Middle East region, but also in India and Africa.
Advanced Dubai Maps
Our Advanced maps give you detailed information such as Plot numbers, Building Pictures, Location and Views.
I need a job. As marketing manager
Aloha from Maui, Hawaii....My name is Mark, I'm a broker with Maui Coast Properties and have several vacation rentals available.
"No Commission" & "No Down Payment" & "No Cheques" Ready to move Apartment France Cluster. DubaiZoneDXB@gmail.com
0525115511
Sajad
Need 2 villas in Spring, vacant only,type 4, Side by side or opposite to each other.
Required Full building for sale in Dubai freehold areas.
Budget upto 100 million
