Shah Rukh Khan-endorsed Dubai property launch prices lowest yet Studio units are priced @ Dh284,888; completion in end-2017
http://www.emirates247.com/business...-launch-prices-lowest-yet-2015-04-19-1.587765
An affordable housing price war has begun in Dubai’s real estate market, with a new company upping the ante for a project endorsed by Bollywood superstar Shah Rukh Khan.
Studio apartments in the Royal Estates in Dubai Investment Park (DIP) will soon start selling for Dh284,888, while one-bed units will be offered for Dh575,888.
“The official launch of the apartments will happen in the coming two to three weeks.
“These units are very much in the affordable price range and something that the market has been seeking,” Shahid Rasheed, General Manager, Texture Properties, told Emirates 24|7.
“Our price per square foot stands at Dh580. The response in our pre-launch has been great,” he said, revealing, investors will have to pay a 10 per cent down payment on booking, with the balance payment being paid over 4.5 years in EMIs of nearly Dh3,600 per month.
The first phase of the launch will include three towers, consisting of 1,200 apartments, which are set for completion by end-2017.
Aristocratic Star, Pacific Ventures and Texture are co-developing the development’s apartment building component, worth Dh1.6 billion, according to Parvez Khan, Chairman, Pacific.
In August 2014, Emirates 24|7 reported that Shah Rukh Khan, the second-richest actor in the world with a personal wealth of $600 million, was pitching for affordable housing in Dubai.
“It should be something belonging to the world where I belong. I am a lower middle-class guy… if I wanted a house, a house for myself, what would it be like?
“Please try to make it affordable and try to have a kitchen as a central theme,” the actor said.