Shah Rukh Khan is back in the UAE property market

The Dh8-billion Shah Rukh Khan (SRK) Boulevard in Ras Al Khaimah, which was put on hold in 2008, is being re-launched, industry sources told Emirates 24|7.

“The project is being re-launched. The concept of the project is being currently reworked… certain components will be expanded or removed,” sources said.

An official statement of the launch will be released once the project design is completed.

Shah Rukh Khan with Raza Siddique, CEO, Arabian Healthcare Group. (Facebook/ShAhRuKh KhAn Movies & News)

Launched in 2007, Shah Rukh Khan Boulevard was being developed by TSA Group on Dana Island, which was to house several hotels, a shopping centre and commercial complexes spread across 6.3 million square metres.

Shah Rukh Khan confirmed to this website in 2010 that the development had been put on hold following the global financial crisis.

"To be honest, it kind of fell through at that point in time," he said, stating he was interested in the project.

Sources said that Los Angeles-based designer Tony Ashai of Ashai Design Corporation, who was previously designing the project, is still involved.

The entry to the project was to be through a glass gate followed by a boulevard with retail outlets and residential complexes, Ashai had said during the launch.

At the centre of the project, the boulevard was to have twin towers, where each floor will have one apartment with a single lift-taking residents to their homes.

The UAE’s real estate market has rebounded with property prices across the emirate witnessing increase. Dubai is leading globally with prices having risen by over 30 per cent last year. The exuberance has led to several project being re-started in Dubai and other emirates as well.

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