Endorsement of Royal Estate Project Dhs2.3bn to Bollywood King Shah Rukh Khan

Bangalore : Shah Rukh Khans Royal Estate Project, which was stuck in 2008 was relaunched this year as a joint venture among developers Aristocratic Star, PAL Developments and Pacific Venture.Bollywood king Shah Rukh Khan has been roped in to approve a Royal real estate project Dhs2.3bn in Dubai, which was commenced earlier this month by developers Aristocratic Star, PAL Developments and pacific Ventures.

The statement avowed that the Royal Estate of 2.3 million square feet is located in Dubai investments Park with a gated community, comprising of 2000 units such as apartments, villas, office complexes and boutique retail space. The Royal project also features a luxury hotel.The first phase of the project is scheduled to be completed in the first quarter of 2016 which includes 400 units.

The developers suspected that the sales of the Estate project will kick off from August 7, 2014. The Apartments cost will be around Dhs 450,000 while town house costs Dhs 1.6 million.To develop and present Royal Estates which ensure outstanding comfort, safety, a state of the art and architecture with landscaped serenity and elegance three legendary and experienced firms Aristocrat, PAL and pacific Ventures have amalgamated.

"I am contended to be allied with this project" said Bollywood star Shah Rukh Khan.

Initially, the Royal Estate started in 2008 by Aristocratic but was hindered due to the consequent financial crisis. The Royal project was relaunched in July this year by Aristocratic Star with a joint enterprises PAL Developers and Pacific ventures.Realty Developers have been cashing in on the property boom in Dubai proclaiming major mixed use communities in sundry pockets of the emirate.

Sobha Group, UAE builder commenced a $4 billion project in Dubai's Mohammed Bin Rashid City while Danube a construction material supplier started a Dhs500 million residential project in the Al Furjan area.Emaar and Nakheel Real estate stalwarts have also been declared a string of projects from starting of the year.

However, Dubai's residential sale market fell down in the first half of 2014, according to analysts.The six percent and three percent quarter to quarter apartment and villa sales prices growth was taking place respectively in Q2 2014, reported by Asteco.