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FINANCIAL NEWS
Dubai’s Sobha Group acquires 8m sqft land from Meydan Group
07 Feb 2012
(MENAFN) Meydan Group said that the firm, which is the developer of Meydan City, sold around 8 million square feet of land to Sobha Group, reported Emirates 24/7.
The company added that the land is adjacent to Meydan Godolphin Parks’ project, which is one of the 4 sub-districts of Meydan City situated along Al Khahil Road.
It also said that the strategic relationship by Sobha Group would provide a long-term commitment to development in Dubai.
It is worth noting that the transaction represents the largest sale of Meydan City offerings to date, and the new land area, which would carry the project title of “Sobha City”, would be developed by the Sobha Group.
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