Rakeen proceeds with construction of residential component of Bab Al Bahr mixed-use development
Rakeen, the master-planner and land developer of the Ras Al Khaimah government, that exercises environmental responsibility when planning and developing, has announced that it has recently completed the piling works for half of the residential component of the Bab Al Bahr and is set to proceed with the construction of the residential units. Rakeen emphasized that the unobstructed workflow has been a significant success after a critical shortage of building materials as well as sharp increase in prices have affected several construction projects across the region.
Rakeen also reported that main contractor Al Hamra Construction Company will start the piling work and construction of the second half of the residential area shortly as the AED 1.2 billion mixed-use resort development remains firmly ahead of schedule.
"Consistency is an important factor in the highly competitive real estate sector. Investors and property buyers want to be constantly reassured of the state of their investments and there is no better way to boost their confidence than to remain consistent and committed to the construction schedule. Rakeen takes pride in all its carefully master planned portfolios and thus we make it a point to exhaust all efforts to maintain the highest standards in the construction of our projects, particularly Bab Al Bahr, which serves as one of our centrepiece offerings," said Wahid Attalla, Member of the Board, Rakeen.
Following the successful sales campaign for the Bab Al Bahr Office Tower, the premier commercial centre of the Bab Al Bahr development, Rakeen is now staking steps to highlight the key features of the residential components of the integrated community development. When completed, occupants of Bab Al Bahr will enjoy a wide range of facilities and amenities for their leisure, recreational and residential requirements. It will also include comprehensive commercial facilities and a free zone area that is open to all domestic and international investors.
Bab Al Bahr is the inaugural development project on Al Marjan Island, Rakeen’s man-made coral shaped atoll that extends four kilometres into the Arabian Gulf. The island-inspired, fully integrated development offers a stunning 360-degree view of the Arabian Gulf and provides extensive landscaping that includes exotic gardens and pristine beaches extending 500 metres long.
- Rakeen announces sales launch of Bab Al Bahr Office Tower
- Rakeen signs mortgage financing agreement with Bank of Baroda for Bab Al Bahr project
- Rakeen completes piling and cut-off works of key building projects within Bab Al Bahr as superstructure work gets underway
- Rakeen to launch Bab Al Bahr’s sophisticated shopping and office elements during Arabian Travel Market 2008
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