RAK completes utility works at Julfar
Ras Al Khaimah, May 24, 2008
RAK Properties, the most prominent property developer in Ras Al Khaimah has completed all construction works of the three-level podium and utility networks of its Julfar Towers.
Construction works of the twin tower project is on course with the residential tower now standing at 30 floors and the office tower at 28 floors, said an official spokesman at the second Ras Al Khaimah Real Estate and Investment Show.
Julfar Towers comprises two 43-storey towers - the residential tower having 349 apartments and the office tower consisting 468 units - built over a three-level podium. The podium will house an advanced business centre, retail and food outlets. It will also be the nerve centre for the common facilities and utilities.
“The completion of the podium and utility networks is a milestone in the construction of Julfar Towers. We are pleased with the way work is progressing and in this pace we will be able to complete the project by next year, which eventually will help us hand over of the units in time,” said managing director and CEO of RAK Properties Mohamed Sultan Al Qadi.
Julfar Towers is centrally located in Ras Al Khaimah with the adjacent creek, mangroves, and a mountainous backdrop offering a stunning view from both the towers. The development is also a few minutes away from the Manar Mall, Hilton Hotel, beaches and the golf club. In addition, Investors in the Julfar Business Tower stand to enjoy the benefits of 100 per cent foreign ownership.
RAK Properties is also developing two other projects –Mina Al Arab in Ras Al Khaimah and RAK Tower in Abu Dhabi.
Mina Al Arab is a mixed-use development spread over 30 million square feet on Ras Al Khaimah’s beachfront, with its wetlands, waterways, resort hotels and residences epitomising the RAK Properties motto of ‘Living closer to nature’.
The 43-storey RAK Tower is a residential project located within the prestigious Marina Square development in Al Reem Island, Abu Dhabi.
RAK Properties is sponsoring the second Ras Al Khaimah Real Estate and Investment Show (RAK REIS) that brings together the region's leading developers, contractors and real estate companies. The show concludes today (May 24) at the Ras Al Khaimah Exhibition Centre. – TradeArabia News Service
More Construction & Real Estate Stories
- Emaar unveils luxury homes in ‘BLVD Crescent’
- Emaar's retail spin-off plan 'won't affect rating': S&P
- Alargan HQ becomes Kuwait's first Leed project
- Tecom parks to become carbon-free zones
- New Tekla software accelerates information flow
- Damac unveils first Trump Estates in ME
- GFH in key London property placement
- Green Valley unveils new UAE, Turkey projects
- Jotun colour collection tracks new trends
- RAK Properties to distribute $27.2m profit
- Top construction firms head to Bahrain
- Investors pull out of $65m Bahrain project
- Projects stalled in Bahrain due to 'mismanagement'
- Emaar rules out plans for new tall tower
- Barwa net profit surges 27.3pc
- RAK Properties adds new villas to Flamingo project
- Saudi launches housing scheme to ease shortage
- R&M wins Oman residential project contract
- Asian skyscraper prices tower over rest of the world
- Tamleek opens new office in Dubai
- $29m allocated for Bahrain drainage projects
- Indian group plans $300m Bahrain Bay investment
- Drake and Scull awards key supply contract
- FCC wins $702m Doha metro line contract
- SPF Realty sees Dubai project success
- Abu Dhabi set for big property show
- Aldar working on $1.5bn UAE housing projects
- Gulf Finance House to start $3bn Tunisia project
- Abu Dhabi to see 10pc surge in new homes
- Saudi construction sector booming on new contracts