Indian firm buys huge plot in Dubai's Meydan City
Dubai, February 8, 2012
Indian developer Sobha Group has bought eight million square feet of land at Dubai's Meydan City for an undisclosed amount to build a mixed-use project, a report said.
Sobha City will be located at Meydan City's Godolphin Parks area and will include a cluster of luxury signature villas, said the Times of India report.
"This is the biggest sale that we have concluded so far and it reflects a new era in the development of Meydan," Saeed H Al Tayer, chairman of Meydan Group, said.
"The scale of development and opportunities that are available in Dubai continues to attract the international market," Sobha Group chairman P N C Menon said.
Company officials said the project is scheduled to be completed in 8-10 years.