Rakeen starts work on $272m project
Dubai, April 9, 2009
Rakeen, a leading property developer and master planner, has announced that it has started super structural works of the Dh1 billion ($272 million) Bab Al Bahr project.
The project is the centrepiece development of the Al Marjan Island in Ras Al Khaimah.
Rakeen further revealed in its monthly status report that an impressive 5,000 cubic metres of concrete is being poured every week in various sections of the development, keeping the project well within schedule, particularly for its planned mid 2010 completion of the first residential units.
For the Fayrouz, Kahraman and Yakout buildings, erection of the structural columns and shear walls of the basement has been almost completed.
One further milestone in the super structural work of these buildings is the considerable progress of the basement ceiling. Rakeen has likewise completed piling and pile testing works of the Marmar, Amwaj and Zumourud buildings with slab on grade and water proofing works for footing in progress.
“We are pleased with the construction progress at the Bab Al Bahr project thus far. In the residential buildings of the project, 22 per cent progress has been achieved, which is a major milestone,” said Hicham Yassin, technical director of Spectrum Consultants, the owners representatives for Bab Al Bahr.
Rabih Haydar, project manager, Rakeen, said: “Overall project works are progressing as scheduled and we are confident that Bab Al Bahr residents will be able to occupy their apartments as promised.”
“We also enjoy the full support of the Ras Al Khaimah government, which has significantly helped enhance the reputation of Bab Al Bahr as a groundbreaking development within the emirate and beyond,” he added.
“Rakeen will continue to adhere to our core values of sustainability, responsibility and prosperity as we move closer towards completing this historic development in Ras Al Khaimah.'
As part of its efforts to provide timely information to investors and project stakeholders, Rakeen has issued monthly status reports that include pictures of the Bab Al Bahr development.
The latest issue in March shows significant improvements in the structural, internal and external walls, while work on slabs and steel fixings are also underway.
Rakeen has encouraged all interested parties to visit the construction site by setting up an appointment at the newly established sales centre located on Al Marjan Island, adjacent to the Bab Al Bahr project.
The centre also showcases model units of one and two-bedroom apartments, providing clients an exclusive opportunity to sample the distinctly rich lifestyle of Bab Al Bahr.
Upon completion, Bab Al Bahr will comprise 136 studio apartments, 356 one-bedroom apartments, 236 two-bedroom apartments and 104 three-bedroom apartments.
The development offers amenities such as 180-degree sea view, 560-metre private beach, gym facilities, underground car parking, themed swimming pool, ample children's play area, and hotel and club privileges.
Bab Al Bahr is the inaugural development project within Al Marjan Island, the first man-made island in the emirate of Ras Al Khaimah. – TradeArabia News Service