Sale registration begins for Dubai mega-project Mohammad Bin Rashid City

Dubai: Sale registration for the Mohammad Bin Rashid City (MBR) opened on Wednesday as developers announced that the first project within MBR will be developed by a joint venture between Meydan Group and Sobha Group and should be completed within seven years.

Named Mohammad Bin Rashid City-District One, its market value is expected to reach Dh21 billion, said Saeed Al Tayer, Meydan’s chairman and chief executive at a press conference.

Sales registration began on Wednesday morning through a dedicated website and call center for the MBR City project, Al Tayer said.

Named Mohammad Bin Rashid City-District One, its market value is expected to reach Dh21 billion, said Saeed Al Tayer, Meydan’s chairman and chief executive at a press conference.

Located along Al Khail Road next to the Meydan Racecourse, the project sprawls on four million square meters of freehold land. It will include 1,500 luxury villas, a 350,000 square meter water park, seven kilometers of lagoons and man-made beaches, retail zones and sports attractactions.

Meydan Sobha will complete the project in four phases and broke ground on phase one last month, Al Tayer said.

The first phase will take three years for the construction of 375 villas, water lagoon, park and a show village that will serve as a prototype for the residential area, he said.

Each villa could sell for Dh9 million and upwards, said P.N.C. Menon, Chairman of the Sobha Group.

Mohammad Bin Rashid City, a mega-project announced by the ruler of Dubai in November, includes the world biggest shopping malls, 100 hotels and a park larger than London’s Hyde Park.