Legendary Bollywood superstar Shah Rukh Khan (SRK) has added another feather in his cap by officially launching a Royal Estates by SRK project at a high-profile event in Dubai. The launch event for Dh2.4 billion joint venture involving a 2.3 million-square-foot gated community in Dubai Investments Park was attended by project partners, leading developers, and superstar’s guests from UK, Canada, Pakistan and India including Bollywood film star and director Sohail Khan.
The Royal Estates by SRK, designed by celebrity architect Tony Ashai and interior decorator Gauri Khan, is located next to the iconic Expo 2020 site at Dubai World Central and features two, four, and five-bedroom townhouses, apartments, office units, retail outlets and a luxury hotel spread over two million square feet. Prices for apartments and townhouses start at Dh450,000 and Dh1.6 million, respectively, and sales began early. During a Press conference and a special gala dinner, Shah Rukh Khan insisted that the housing should be affordable and designed around the kitchen – a central part of family living to have at least one meal together. “My first home was a small house in Carter Road in Mumbai and I still cherish it. Today, I have bigger homes but this one would always be special and I would like to give it to my children someday,” he said. Speaking about
the Royal Estates by SRK, Khan said he knows the mass appeal he brings to the project which has been touted as affordable living.
“The joint venture project involves PAL Developments, Aristrocrat and Pacific Ventures and it would provide homes at affordable rates and attract buyers,” he said, adding that his contribution in the project are there but as a whole it is being designed by Tony Ashai and my wife Gauri. “To be very clear, I am the brand ambassador for this project but it is being designed by Tony Ashai and Gauri. I am here to give my input one of which was
to design the houses around spacious kitchens.” Ashai, who was present on the occasion, said it is a great honour to work with SRK and he gave his best to create a complete community project in a fast growing city like Dubai.
“Dubai is an energetic city with a regal touch. The city inspires elegance and stylized sophistication is the norm. The real estate market is enjoying the returning positivity and during this time home and business owners as well as investors want to enjoy the plush vibe of this city. This has been diligently taken into consideration while designing the project to weave an exotic blend of homely comfort and luxury.”
Osman Valli, chairman of Aristocrat Star Real Estate Development, said residential market in Dubai has been witnessing a healthy demand from investors. “The Royal Estates is a compelling investment opportunity from investors,” he said. Atiq Merchant, director at PAL Development, said the Royal Estates by SRK will be a lucrative combination of investment, residential and commercial have. “The project will be unique in many ways while being synced with the exuberant and imperial pulse of Dubai’s landscape.” Pacific Ventures chairman Parvez Khan said the first phase of the project
is taking shape and the first batch of 40 units will be delivered in next three months. “We started work on the project and then host the launch event to showcase the development focusing on to achieve a new level of excellence,” he said.
In reply to a question raised by Danube chairman Rizwan Sajjan about the low-price units, he said: “Developers always take the advantage, but this time we have passed on the benefits to end users and buyers,” he said. The Royal Estate by SRK will have 2,000 units and it would be completed in three phases by 2018. Phase one of the project comprising of 400 units will be delivered by first quarter of 2016.
At the news conference, Khan again expresses his desire to start work on DH8 billion SRK Boulevard as soon as possible and said revival of project is still in its nascent stages, a statement told exclusively to Khaleej Times ealier this week. The legendary film star, entertainment mogul, sports magnate and business-savvy actor said that he is actively trying to revive this multi-billion dirham development in Ras Al Khaimah, which was put on hold in 2008 due to global financial crisis.