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Shah Rukh Khan has confirmed that the $2.2 billion property project named after him in Ras Al Khaimah is on hold. Do you think it will ever be revived?
The results are in.
February 21, 2010 5:55 by Aarti Nagraj
When Bollywood actor Shah Rukh Khan announced his first real estate venture, an AED8 billion property development in Ras Al Khaimah named after him, he was gushing with excitement.
“Shah Rukh Khan Boulevard is my tribute to the love and affection shown by the people of the UAE to Indian cinema,” he said during the launch of the project in October 2008. “My vision for the project is to make life a celebration. I have lent my name to the project and I intend to share and transfer my passion for design and living spaces into this world class community that residents will be proud of,” he said.
“It’s not just like endorsing some other product. It’s more than that,” Khan said at the time.
Fast forward to 2010, and the actor – who was back in Dubai to promote his latest movie – confirmed that the project is now on hold.
“To be honest, it kind of fell through at that point in time,” Khan told Emirates Business, adding that he would still like to be a part of the project. “Because I would like it to be; and times will change and become better, so whatever service I can provide I will offer,” he said.
“It’s never always about just the money part that you make – I think it’s just one of those things we never foresaw. Nobody foresaw. I would like to continue on the project, but it is definitely on hold right now,” he said.
However, Shah Rukh Khan Boulevard, which was being developed by TSA Group, is not the only development to have ground to a halt. Several projects across the UAE have been put on hold because of the financial crisis.