Bollywood superstar Shah Rukh Khan refrains from giving investment advice to anyone but he had a few smart tips up his sleeve as he launched a Dh2.3 billion real-estate project, The Royal Estates, in Dubai on Wednesday.
“The product itself is more important than the endorser. If I were to sit down and say that the products I have endorsed have done well was because of me, I am taking away the goodness from those products” said Khan at a press conference in Dubai.
However, he said that the local development — a collaboration among companies Pal, Aristrocrat and Pacific Ventures — would provide homes at affordable rates and that should ideally attract buyers. An apartment unit at Royal Estates would set you back by Dh450,000 and a town house would cost around Dh1.6million.
“My first home was a small house in Carter road in Mumbai and I still cherish it. I went on to build bigger homes but this one would always be special,” said Khan, who was recently adjudged as the World’s second richest actor.
Asked if his 2008 real-estate project in Ras Al Khaimah SRK Boulevard, whose construction was stalled in 2010 after a glitzy launch by Khan, would be revived — he said its revival was still in its nascent stages and declined to give a concrete timeline.
