March 06, 2015 1:45 PM ET

Real Estate Management and Development

Company Overview of Meydan Group LLC

Company Overview

Meydan Group LLC develops sports facilities in Dubai. The company primarily develops horseracing venues that hosts riding lessons, stabling, and competitive activities from show jumping and dressage to international endurance races. Its amenities include a five-star hotel, restaurants, a sports bar, a resort and spa, a beach, a museum and gallery, a theatre, a golf course, and a tennis academy. Meydan Group LLC was formerly known as Meydan LLC. The company is based in Dubai, United Arab Emirates.

Meydan Racecourse

Al Meydan Road

Nad Al Sheba

P.O. Box 9305

Dubai,  

United Arab Emirates

Phone:

971 4 327 0000

Fax:

971 4 327 0027

Key Executives for Meydan Group LLC

Chairman and Chief Executive Officer
Commercial Director
Compensation as of Fiscal Year 2014.

Meydan Group LLC Key Developments

Meydan Inks AED 700 Million Bank Financing Deal

The Meydan Group is tapping Commercial Bank International (CBI) for a AED 700 million revolving project financing facility that will go towards building more than 1,500 villas for Emirates Group in Meydan City. The loan tenor is for eight years and structured in a way to keep the "interest rate lower than the prevailing market rates. It was last year that Meydan entered its first financing deal with CBI, which is the local affiliate of Qatar National Bank and in which it has a 40% stake. The value of that loan arrangement was not revealed at the time, but market sources reckon it to be "much higher" than the AED 700 million signed up June 4, 2014.

The Roads and Transport Authority Inks Agreement with Meydan Group and Meraas Holding to Develop Real Estate Projects

The Roads and Transport Authority (RTA), has signed an agreement with Meydan Group and Meraas Holding; whereby the two companies will undertake the construction of the real estate developments around the two banks of the Dubai Water Canal stretching from the Business Bay district and crossing the Sheikh Zayed Road up to Jumeirah Park with an extension to the existing park. The Canal passes across Al Safa Park, Al Wasl Road, Jumeirah 2 district, and Jumeirah Road before terminating at the Arabian Gulf near Jumeirah Beach Park. The real estate developments include hotels, shopping mall as well as several retail and dining outlets, and residential units. The RTA will cater to the drilling works of the canal, as well as the construction of crossings, roads and pedestrian paths. The project works have been divided into three contracts. The First and second contract relate to the construction of crossings over the Canal linking with the key roads intersecting the canal course which are the Shaikh Zayed Road comprising eight lanes in each direction, in addition to Al Wasl Road and Jumeirah Road comprising three lanes in each directions apiece. Bridges rise 8.5 meters above the water level to allow free navigation 24/7. The third contract relates to drilling and landscaping works in addition to the construction of pedestrian crossings, and four marine transport stations to ease the movement of the public and promote the mass transport and tourist business. The marine transit modes are expected to ferry more than six million passengers per annum according to the plan mapped out in Dubai.

Meydan Group and Sobha Group Form Joint Venture to Develop Project Within Mohammad Bin Rashid City

The first project within Mohammad Bin Rashid City will be developed by a joint venture between Meydan Group and Sobha Group and should be completed within seven years. Named Mohammad Bin Rashid City-District One, its market value is expected to reach AED 21 billion, Located along Al Khail Road next to the Meydan Racecourse, the project sprawls across four million square metres of freehold land. It will include 1,500 luxury villas, a 350,000 square metre water park, seven kilometres of lagoons and man-made beaches, retail zones and sports attractions. Meydan Sobha, the 50-50 joint venture and contractor, will complete the project in four phases and broke ground on phase one last month. The first phase will take three years for the construction of 375 villas, water lagoon, park and a show village that will serve as a prototype for the residential area. Sobha Group said that each villa could sell for AED 9 million and upwards.

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