By Staff writer
Shah Rukh Khan endorses Royal Estates development in Dubai Investments Park which was first launched in 2008
Bollywood superstar Shah Rukh Khan has reportedly teamed up with an alliance of developers to endorse a AED2.3 billion ($626 million) mixed-used project in Dubai which was first launched in 2008 but was stalled by the global financial crisis.
The movie star has joined up with Aristocrat Star, PAL Developments and Pacific Ventures for their Royal Estates development.
Units will go on sale from August 7 with apartment prices starting at AED450,000 and townhouses from AED1.6m.
The endorsement comes nearly six years since The Royal Estates community was first announced by Aristocrat Star Investments in October 2008.
In a statement published by UAE daily Khaleej Times, Khan said: “Everyone’s story begins in their home and no home is less than a kingdom for its residents. Three renowned and experience organizations Aristocrat, Pal and Pacific Ventures have partnered to develop and present Royal Estates which ensures uncompromised comfort, elegance, safety and a state of the art landscaped serenity that weaves a stellar community. I am delighted to be associated with this project.”
Royal Estates, which will be located in Dubai Investments Park, will house a total of 2,000 units, comprising apartments, villas, boutique retail spaces, an office complex and a luxury hotel.
Phase 1 of the project comprising 400 units is scheduled to be delivered during the first quarter of 2016.
It’s not the first time that the Khans have endorsed real-estate projects in the UAE. In 2008, Khan backed a project in Ras Al Khaimah called Shah Rukh Khan Boulevard which was put on hold soon after its launch.For all the latest real estate news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Celebrity endorsements mean absolutely nothing. All that happens is that the Developer pays the Celebrity for the use of their name and association thereof.
Khan will not put any money into the project, offer no tangible worth and will not be around if the development goes sour again.
What a muddle! Can't this guy stay away from these projects...lets go down to Shah Rukh Khan Boulevard ..tumdedum
well said Simon...absolutely true.....
Yes when you can make some easy money why not endorse something which you won't even buy.
There are lots of good projects that needs finance in Indian rural, urban areas. Lots of Entrepreneurs in India need funds and they are genuine, too. Let our rich personalities invest in India or get inspiration to do so on priority basis. They may already be doing so! I don't say that one should not invest etc abroad. But personalities like Shahrukh and any other iconic people always has to think before making choice, set an example which shows or exhibit their attitude and has great impact on people, mass psychology and way of thinking, approach towards day to day issues. Again its not good or bad, but its choice people make that decides many things. Especially in country like India, where people are leadership, icon oriented, every single word, move, action by such stars, have multifold and multifaceted impact. When projects are stalled and economy is down, its ultimately Nation money that is blocked. It would not be preferred to have any Indian money gets hold in crisis etc.
When SRK endorsed a project at Cityscape 2008 the market crashed. Let's see if the market crashes in this launch.
SK Boulevard ..... stalled and dissolved !!
This new project must be having some hidden worms under the carpet too ! All the best to interested buyer/s ....