i-Rise to become the region’s landmark business tower

Published May 31st, 2007 - 10:57 GMT

The sizable new ‘i-Rise’, being developed by property developer Realty Capital Middle East FZ LLC to become the region’s landmark business tower and a prestigious corporate address, was officially launched yesterday (Wednesday, May 30, 2007) during a VIP cocktail event that was attended by a number of dignitaries.
Construction has already started on the approximately AED 1 billion 37-storey project, which will become one of the largest business towers in the region, incorporating a total-built-up office area of more than one million square feet in Dubai’s Technology, E-commerce and Media Free Zone (TECOM), Site-C.
On completion in late 2009, i-Rise Office Tower will feature a distinctive curvilinear design, which has been specifically tailored to provide unique office layouts that will allow for maximum exposure to natural light, with panoramic views of new Dubai and the Arabian Gulf. The project is conveniently located off Sheikh Zayed Road, with easy access to the upcoming TECOM Metro Station. 
“The launch event was successful and exciting,” commented Marwan Mansour, Chief Executive Officer, Realty Capital Middle East.  “Investors have been very interested in the unique features of our new development, which has been built to satisfy the dynamics and demands of a challenging corporate environment. The i-Rise Office Tower will set the pace for office building designs in Dubai through its visually compelling quality and state-of-the-art infrastructure and communication systems,” Mansour added.
Office modules in the Tower start from 700 square feet in size, offering investors a free zone location and freehold title.  Premium facilities have been included in the design, including executive offices, private high-speed elevators, restaurants, coffee shops, retail space, a fitness centre and an extensive multi-storey car park.
Mr. Mansour added that Realty Capital Middle East has partnered with several of the world’s top service providers for the design, development, execution and sales of the project, including, Khatib & Alami Consolidated Engineering Company, a leading architectural and engineering consultancy firm in the MENA region; Projacs International, one of the largest Pan-Arab project and construction management firms; Better Homes, the leading real-estate company in the region, as the exclusive sales consultant for this development outside Saudi Arabia; and Al Raeda Real Estate Development Co. Ltd. as the sales agent for i-Rise in Saudi Arabia.
“The high occupancy rate of offices and the increasing demand for quality office space in Dubai has encouraged us to create a unique, high-tech, modern and landmark destination in a viable location. There are many benefits of having a business located in TECOM, such as no foreign ownership and employment restrictions, in addition to custom duty exemption,” Mansour concluded.

About Rasmala:
Rasmala is an Investment Bank focused on building strong relationships in the GCC with high net worth corporate and individual clients, by providing them access to a broad range of investment opportunities and helping them make sound decisions. Headquartered in the Dubai International Financial Centre, Rasmala also has operating subsidiaries in Riyadh and London.  The company’s activities include fund management, brokerage, private equity, Islamic finance and real estate investments.

About Saeed Ahmed Baghlaf & Partners Holding Group:
Saeed Ahmed Baghlaf & Partners Holding Group is one of the leading investment companies in the national, regional and international market and processes a number of renowned global activities and investment opportunities. Saeed Ahmed Baghlaf & Partners Holding Group is renowned for its modern outlook, distinguished values and investing excellence and operates in diverse fields of expertise with clear analysis and distinctive strategies.  The company’s corporate activities comprise services, real estate, marketing, shipment, education, training and industry.

About Al Khayyat Group:
Al Khayyat Group owns a portfolio of companies, including Alphamed, one of the leading marketing and publishing companies in the region. In addition to commercial activities, the Group also owns more than 40 pharmacies and six UAE-based health and fitness centres, in addition to other activities in real estate and finance. Al Khayyat Group is the sole agent for two international automotive manufacturers, Peugeot and Mazda in Jordan and is also actively involved in fitness and health supplies, environmental and animal care, consumer substances, library supplies, and medical and laboratory equipment.



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