Realty Capital Middle East FZ LLZ has announced that sales of i-Rise, the 37-storey curvilinear commercial tower under construction in TECOM Site-C, have exceeded 60 per cent, following the introduction of an attractive payment plan in May 2008.
“The new payment schedule certainly triggered our sales revenue; boosted by the fact that investors feel comfortable investing with us due to our strong shareholder network. Furthermore, i-Rise’s strategic location in Dubai’s future business hub, coupled with its advanced engineering and architectural elements harmonize the needs of investors and end users,” said Marwan Mansour, CEO of Realty Capital.
“The early sales success of i-Rise demonstrates its appeal to sophisticated and demanding investors and end users alike from both the local and international markets,” he added.
Construction on i-Rise continues rapidly, as the preparation for casting of the first basement slab begins. On Completion, I-Rise will feature executive and corporate offices, 19 high-speed elevators, restaurants, coffee shops, retail space, a fitness centre, a helipad, and a multi-storey car park in a uniquely treated podium façade. With a total area of 1.8 million square feet, i-Rise will be one of the region’s largest business towers.
“We are optimistic about continued sales success, and believe that Realty Capital’s commitment to transparency, the highest construction standards and timely project delivery will be important selling points for this project,” Mansour concluded.
Realty Capital Middle East FZ LLC is a strategic partnership between Rasmala Investments, a regional investment bank head quartered in Dubai International Financial Centre (DIFC) with subsidiaries in Riyadh, Cairo, Muscat and London; and Khayyat Investments, a prominent UAE group with a wide range of activities in the UAE and the region.
© 2008 Al Bawaba (www.albawaba.com)
