Launch of AED 1.2 billion (US$ 326 million) Meydan Millennium Estates development
Gated community of luxury freehold villas to be completed in 2015.
Meydan City Corporation, master developer of the Meydan Racecourse District and Grandstand in the Ras Al Khor area of Dubai, has announced the start of construction work on a gated community of 198 luxury villas.
Part of the ambitious AED 25 billion (US$ 6.8 billion) Dubai Meydan City project which includes a free zone, four distinct "sub-districts" and extension to the Dubai Metro in its masterplan, the new 3.8 million sq ft development will occupy a landscaped area that is directly adjacent to the grandstand.
Villas ranging from 5,400 sq ft to 6,800 sq ft are expected to be offered off-plan on freehold tenure to investors.
According to the developer's marketing literature the project will represent the "best in fine suburban living" on its completion in late 2015, with Commercial Director Mohammad Al Khayat describing it as "another world-class development" in his launch event address.
The project's prime contractor is Abu Dhabi-based G&Co. General Contracting whose clients include Etisalat, the InterContinental Hotels Group (IHG) and Abu Dhabi Investment Authority.