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FINANCIAL NEWS
USD7 b District One to be sold in 2018
09 Oct 2013
(MENAFN) Founder and chairman of Sobha Group PNC Menon said that the MBR City’s District One project, which is worth USD7 billion, is expected to be sold by 2018, according to Khaleej Times.
Meydan Group and Sobha Group have signed a joint venture last May to build 4 million square meters of the land owned by the prime which is very close to the well-known Burj Khalifa.
The chairman said: “We have been working on show villas for the last six months and these will be ready within 2-3 days. Then there will be a soft launch for potential buyers, but official launch will be held next month,” Menon explained. “We have already started selling the project and around 100 villas have already been sold.”
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