Meydan Sobha on Monday officially launched the latest phase of its $10 billion Mohammed Bin Rashid Al Maktoum City – District One project.
Phase 3 offers a fresh wave of 4 and 5 bedroom freehold villas built on larger plots, the developer said in a statement.
A joint venture project between Meydan Group and Sobha Group, Meydan Sobha has already sold out all villas in Phase 1 and Phase 2, it added.
Handover is scheduled to start mid-2016 and with more than 9,000 workers currently on site, both phases are scheduled for completion by 2017. Phase 3 is set to be handed over the following year.
Part of Phase 3 will be a 7km Crystal Lagoon creating an manmade beachfront in the heart of the city, with lush green landscaping and a 14km boardwalk.
The Crystal Lagoon will offer residents exclusive access to swimming, paddle boarding, and other non-motorised aquatic leisure activities.
“This is a hugely exciting project, and we are delighted to launch the newest phase of Mohammed Bin Rashid Al Maktoum City - District One, while reporting great progress on the first two phases,” said Saeed Humaid Al Tayer, chairman of Meydan Group.
“We are proud to be adding to Dubai’s status as one of the most desirable cities in the world in which to live. We are creating a beautiful, luxurious community offering the most central freehold villa properties in the heart of the city’s centre overlooking what will become the world’s largest crystal lagoon.”
PNC Menon, group chairman and founder of Sobha Group, added: “As a developer, we are committed to meeting our delivery schedule. Construction of both Phase 1 and Phase 2 of the project are progressing well. We expect keen demand for the villas in Phase 3, as we are offering home owners bigger plots, a variety of new floor plans, as well as the option to include a basement."
With a total land area of 45 million square feet, District One, Mohammed Bin Rashid Al Maktoum City, presents one of the lowest density villa developments in the heart of any international city.
District One is also situated next to the Meydan One leisure, commercial, and entertainment destination in Mohammed Bin Rashid Al Maktoum City. Meydan One will host the world's tallest residential tower, the tallest observation deck, longest indoor ski slope and the largest dancing fountain.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.
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