Shahrukh turns property developer in UAE

Dubai, Oct 6 (UNI) After successfully proving his mettle in Bollywood, superstar Shahrukh Khan has turned property developer in Ras Al Khaimah launching a Dh 8 billion (Rs 96 billion) Shahrukh Khan Boulevard on Dana Island even as the UAE real estate market is feeling tremors of the global financial downswing.

His entry follows that of a number of international celebrities, including Bollywood legend Amitabh Bachchan, David Beckham, Michael Schumacher, Donald and Ivana Trump, adding flavours to the UAE's real estate market that, according to analysts, is heading towards a correction.

According to the actor, he is involved in the project and would like to have a home in it.

''I lost my father at 15 and mother at 25...and lived homeless for a long time,'' he told media, explaining passion for his home.

Shahrukh noted ''I have a strange fetish for home. Its close to my heart. Bit by bit, I have built my home where the future of my children lies. I have done so much for my home, so why can't I extend this to others?'' He said it will be a business venture and a profitable one.

Scheduled for completion in 2012, Shahrukh Khan Boulevard will have modern residences, including specially-designed studios, and one and two bedroom apartments and town houses. The work on the master plan by an international team of designers and architects will start shortly, the Gulf News said.

UNI XC ATI KP1153