Dubai-based Meydan Group on Friday announced its joint venture (JV) with Sobha Group to develop a 4 million square metre (more than 1,000 acres) of prime freehold land into a leisure and retail space in Dubai.
Located alongside Al Khail Road, adjacent to Meydan Race course and less than three km from Dubai's key financial, leisure and shopping districts, the community named 'Mohammed Bin Rashid City -District One' will be similar to Burj Khalifa district.
The 50-50 JV Meydan Sobha FZ LLC would develop city park land, waterways, woodlands and open spaces covering 2.4 million square metres (600 acres). The project would feature a 350,000-sqm water park, with 7 km of lagoons and man-made beaches alongside retail zones, leisure and sports attractions. It will be surrounded by 1,500 luxury villas to be delivered in four phases, a release stated.
