Sobha Group inks JV with Meydan to build township in Dubai

NEW DELHI: Sobha Group today said it has formed a joint venture with Meydan Group to develop an integrated township of more than 1000 acres in Dubai.

"Meydan Sobha FZ LLC is an equally-split joint venture," Sobha Group said in a statement.

The project 'Mohammed Bin Rashid City -District One' is located alongside Al Khail Road. It would be the closest residential villa and green space development to the famous Burj Khalifa district.

Meydan Group and Sobha Group announced the creation of a joint venture to "develop 4 million square metre (more than 1,000 acres) of prime freehold land into an exclusive destination of key leisure and retail attraction points surrounded by spacious residential communities".

Bangalore-based realty firm Sobha Developers is part of Sobha Group.