Dubai’s Meydan Group plans to form a partnership with Malaysia’s Teo A Khing Design Consultants (TAK) and China’s Zhouji Jiye and Tianjin Farm Groups to build a $4bn horse racing facility in Tianjin, China.
The investment arm of Meydan, the International Equine Group (IEG), and TAK are to finance the horse racing facility. The group will not directly own the facility.
“There is no full ownership; it has to be a partnership because the land is granted by the government,” says Mohammed al-Khayat, commercial director at Meydan.
The Tianjin Horse City is planned to cover an area of three million square metres and will include a five-star hotel, clubhouse, commercial offices and residential facilities. The project will also include an equestrian college, feeds plant, horse hospital and quarantine centre.
The construction work is expected to begin next year.