Realty Capital collaborates with Al Naboodah to boost i-Rise resources to ensure timely delivery

Published August 5th, 2008 - 05:18 GMT

Realty Capital collaborates with Al Naboodah to boost i-Rise resources to ensure timely delivery

 

Resource reinforcement to counter concrete shortage, maintain 2010 project deadline

 

Realty Capital Middle East FZ LLZ has announced that it has cooperated with their main contractor Al Naboodah to improve the resources on its AED 1 billion ‘i-Rise’ project to compensate for a global shortage of building materials and ensure on-time delivery of the prestigious business complex, currently under construction in TECOM Site C.

 

Realty Capital is closely coordinating with Al Naboodah to properly address the impact of a widespread shortage in concrete and thus maintain the scheduled 2010 i-Rise completion date.

 

 “We have impressive growth plans which do not leave room for delays to i-Rise. This flagship project is essential for us to sustain the momentum of our rising market reputation,” said Marwan Mansour, CEO, Realty Capital. 

 

“The recent resources augmentation keeps our construction on track and reduces the impact of restricted construction material supplies. Critical decisions such as these are making i-Rise a model not only of good construction but of professional project management as well,” concluded Mansour.

 

Realty Capital Middle East FZ LLC is a strategic partnership between Rasmala Investments, a regional investment bank head quartered in Dubai International Financial Center (DIFC) with subsidiaries in Riyadh, Cairo, Muscat and London; and Khayyat Investments, a prominent UAE-based group with a wide range of national and regional activities.

 


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