The Dh2.3 billion ($626 million) Royal Estates project was officially launched by Bollywood superstar Shah Rukh Khan at an event held in Madinat Jumeirah in Dubai recently.

The development is a collaboration among Aristocratic Star, Pal Developments and Pacific Ventures, said a statement.

The 2.3 million sq ft gated community located in Dubai Investments Park next to the Expo 2020, features 2,000 units comprising two, four and five bedroom townhouses, apartments, boutique retail spaces, an office complex and a luxury hotel, it said.

“Everyone’s story begins in their home and no home is less than a kingdom for its residents. Three renowned and experience organisations Aristocrat, Pal and Pacific Ventures have partnered to develop and present Royal Estates which ensures uncompromised comfort, elegance, safety and a state of the art landscaped serenity that weaves a stellar community. I am delighted to be associated with this project,” said Khan.

“The residential sector in Dubai’s real estate market has been witnessing a healthy demand from investors. The Royal Estates is a compelling investment opportunity for investors in this market and a top of the line partnership lends uncompromised quality, sophistication and sensibility to this development,” said Osman Valli, chairman, Aristocrat Star Real Estate Development.

“The Royal Estates will be a project that stands apart in unique ways while being in sync with the exuberant and imperial pulse of Dubai’s landscape. It promises to be a lucrative combination of investment, residential and commercial haven,” said Atiq Merchant, director, Pal Developments.

“The Royal Estates is not just a development, it is a lifestyle offering. The collaboration with Pal Developments, Aristocrat Star Real Estate Development, Tony Ashai and Gauri Khan, their proficient skills and experience, has led this ambitious project to fruition,” said Parvez Khan, chairman, Pacific Ventures.

“Dubai is an energetic city with a regal touch. The city inspires elegance and stylised 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 this project to weave an exotic blend of homely comfort and luxury,” said Tony Ashai, celebrity architect.

The project sales commenced today (August 7). The Phase 1 of the project, comprising 400 units is expected to be delivered in the first quarter of 2015, said the statement.

The apartment units start at Dh450,000 and townhouses from Dh1.6 million onwards, it added. - TradeArabia News Service