CAIRO — Bollywood icon Shah Rukh Khan has entered the international property market — in a multi-billion dollar way.
Media in Dubai said the superstar — currently the biggest name in Indian cinema — has joined forces with United Arab Emirates real estate company TSA Group in an AED 8 billion ($2.1 billion) beachfront residential development in Ras Al Khaimah.
Shah Rukh Khan Boulevard, due to be completed by 2012, is being developed by Rakeen group on Dana Island, according to Arabianbusiness.com
The actor will have a hand in designing the project, working with U.S.-based architect Tony Ashai in conceptualizing the beachfront complex comprised of 10 residential towers and a raft of lifestyle amenities.
“Indian cinema has enjoyed strong emotional ties with the UAE and Arab cine-goers for decades,” Khan told the web news portal during a visit to Dubai.
“The Arab world is Hindi film industry’s strongest foreign market. Shah Rukh Khan Boulevard is my tribute to the love and affection shown by the people of the UAE to Indian cinema.
“I believe that residential properties must be a true reflection of the aspiration of the Arab world, and 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.”
The actor also said he is looking into setting up an office in the UAE to manage his film-making projects. It will be sited either in Dubai or Ras Al Khaimah.