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Home / ANALYSIS / Site visit: Mohammed Bin Rashid City, Dubai

Site visit: Mohammed Bin Rashid City, Dubai

by Paromita Dey on Jul 20, 2015


The project is located off Al Khail Road in Dubai.
The project is located off Al Khail Road in Dubai.

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The huge freehold Mohammed Bin Rashid Al Maktoum City District One project, located within the Mohammed Bin Rashid City master development, has attracted healthy investments, partly because of its convenient location and partly because of the reputation that its developers carry.

The project, off Al Khail Road, is in close proximity to Downtown Dubai and Business Bay, with the Burj Khalifa and the Dubai Mall being about 4km away. The master development also has access to Sheikh Mohammed Bin Zayed Road and the Dubai-Al Ain Road.

At a media gathering last month, the management of Meydan and Sobha, the developers who have entered into a 50:50 joint venture to build the $10bn (AED2.72bn) development, revealed that construction of the 267 sold-out villas in Phase 1 is on track, and will be handed over to buyers by mid-2016. The villas in Phase 2, most of which have also been sold, are due for delivery sometime in mid-2017.

“You cannot repeat this project in this country. There are numerous villa projects in Dubai, but ours is right in the heart of the city,” commengts PNC Menon, founder and chairman of Sobha Group.

The ‘super luxury’ District One project is spread over 440 hectares, with more than 60% of the total area being allocated to green and open spaces. The low-density project boasts a 7km-long ‘Crystal Lagoon’ for swimming, kayaking and other activities, and is expected to be delivered in mid-2017 along with the Phase 2 villas. The project will also feature 14km of artificial beach walk and 8.8km of cycling and jogging track on the periphery.

Menon mentioned that out of the 631 luxury villas that were released to the market, 511 have already been sold. “One third of the total project is currently sold. We have seen a good mix of buyers from around the world. They are very happy with the location,” he states.

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