‘Ritaj’-Phase 2 set to be major attraction at Cityscape Dubai 2009

Published October 5th, 2009 - 10:09 GMT

Dubai Investments Real Estate Company (DIRC), the real estate arm of Dubai Investments PJSC, is gearing up to showcase the second phase of ‘Ritaj’ - a modern residential complex located in Dubai Investments Park - at Cityscape Dubai 2009, which opens today at the Dubai International Convention & Exhibition Centre.

Designed to epitomize the concept of affordable luxury, ‘Ritaj’ will comprise a total of 598 well-appointed apartments spread across 6 blocks. These include 40 three-bedroom apartments, 194 two-bedroom apartments, 264 one-bedroom apartments, and 100 studio apartments.

This is the fourth successive year that DIRC is participating in Cityscape Dubai, the region’s premier real estate exhibition. DIRC will be located on Stand 8A36 at Hall 8 of the exhibition centre.

“DIRC has consistently maintained a strong presence at Cityscape Dubai and has benefited tremendously from the networking opportunities offered by the exhibition, and we return again this year with Phase 2 of ‘Ritaj’ ” Obaid Al Salami, General Manager of Dubai Investments Real Estate Company.

“We believe targeted trade shows such as Cityscape Dubai can play a vital role in reinvigorating the property market. We look forward to a fruitful outing at this year’s Cityscape and are confident we can leverage the reputation of DIRC and the goodwill generated by the success of ‘Ritaj’-Phase 1 to elicit good investor response for the second phase of the project,” Obaid Al Salami added.

Residents at ‘Ritaj’-Phase 2 will enjoy fully serviced accommodation, which includes 24-hour security, maintenance and cleaning. The second phase of ‘Ritaj’ will also feature a fully equipped community centre with restaurants, cafes, retail outlets, supermarkets, clinics, pharmacy and mosque. The project is scheduled for completion by the first quarter of 2010.

“The recent property downturn has persuaded real estate investors to become ever-more cautious about their investment decisions, and as a result they are increasingly looking for safe and viable investment opportunities that deliver exceptional value,” Al Salami said. “Ritaj, with its emphasis on affordable luxury, offers an excellent value proposition and constitutes the perfect investment opportunity for the prudent investor.”

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