Project: RAK Towers
Type: Residential
Floor Count: 43
Location: Marina Square (http://www.skyscrapercity.com/showthread.php?t=374565), Reem Island
Status: Approved
Developer: RAK Properties
Construction Start: ?
Construction End: ?

Project Website (http://www.raktower.ae/)


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Location in Marina Square (http://www.skyscrapercity.com/showthread.php?t=374565):

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RAK = Ras Al Khaimah??

its Rakeen(RAK development agency) doing a ntower in AD

www.rakproperties.net

I dont like the very top of this building. If they cut off the semi-circular portion at the top, it would be MUCH more attractive I think

So what are the rates at which people are reselling on this tower ? Any guys have a clue !

and note that majority of the super structure on the tower is already ready and glass pannels on the facade are being installed which means the handing over date of March 2009 could be achieved !

That top may be there because of the direction of the sun I'm assuming. If the sun rises or sets facing that side, then without the shadows from the overhang, the top floors would cook. But that's completely dependent on the direction of the building. I sorta like it though because its brings relationship to the flat and the round part of the building.

Got an excellent deal @ 1350 Dhs. / sq.ft for a 3 bedroom appartment just a month back and am being offered 1850 Dhs. / sq. ft from another buyer ! The project is really developping quickly !

Got an excellent deal @ 1350 Dhs. / sq.ft for a 3 bedroom appartment just a month back and am being offered 1850 Dhs. / sq. ft from another buyer ! The project is really developping quickly !

wow, thats a fabulous deal. Can I ask where you went through in order to find such good deals? I have been considering Reem Island, but cant get a hold of a good deal

The market for Rak Towers is today at 2,250/sq. ft .. let's see what is the result of the present slow down in property dealings in UAE on Abu Dhabi !

guys the RAK tower is already topped out it just started to clad the building

that's true . elso there is update inside the website http://www.raktower.ae/

A lot of cladding is already done ..

I think it will be one of the first operational buildings of Reem Island.

All marks to the builders !

Any more news on this project ?

It sure is a pity that the company is as yet not posted monthly progress photographs since September 2008 .. however, the progress on site is mind boggling !

so any related news in April 2009 .. or still the same ?

saw it before a month ago ...already topped out !

Thanks for Adam .

http://img12.imageshack.us/img12/8896/005oxm.jpg

BB : Excellent aerial photo ... thanks a lot.

Added to emporis !

Added to emporis !

2012 ? It is normaly 2010 the delivery dates of RAK Tower !

Today

Done !


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Does anybody have an idea what prices are going on in this tower. My cousin owns a two bedroom apartment but I am based in Dubai and do not know anything about this tower.

Does anybody have an idea what prices are going on in this tower. My cousin owns a two bedroom apartment but I am based in Dubai and do not know anything about this tower.

Which 2 bedroom .. cause I have visited the place and there are several types of 2 bedrooms .. some are nice but some are dramatically ugly ! Sorry but I was really surprised at the floor design.

For 3 bedroom (which every floor is having) there is only 1 appartment per floor and it is really very well designed. There is 1 bedroom appartment too which is also very nice (though the view is on the side of the building). It seems that the floor design is based upon a 3 bedroom aptt & a 1 bedroom appt and the rest of the appartments are designed around these appartments !

Otherwise I even took pictures in the inside of the building. The construction is not so bad and the lift is really high speed ! (I think Hitachi lifts).

Hence, depending on the height of the appartment + location the price may vary from 1,100 to 1,300 Dhs . .. Having said that I think the building should be handed over to owners within the next 3 months ! So be ready to pay the 50% ! (in case of 50 - 50% payment plan).

I have talked to several persons owning Rak tower appartments and they are all talking about asking RAK Properties to reconsider the build price on Rak Towers. Since construction prices have gone down and the fact about financial crises, there is a major issue for paying 50% upon delivery by all individuals.

With the delivery date so near, there is a huge probability of default by many .. in view of which to further attract fast buck, Rak properties can do a repricing of the tower or at least give incentive to buyers like :=-

If tower is ready by September 2010 (after snagging) if a guy pays within 1 week than he awails 7 to 10% rebate on his original purchase price.

If within 1 month gets 5% .. 2 months delay and he gets .. and vice versa.

This type of incentive scheme will only earn good name and will resolve an issue with Clients who will be hell bound to delay the payment of the 50% on delivery !

I know at least 8 to 10 unit owners, I hope more can join in to make a more stronger voice to reason with !

Mind you this strategy is a "win win situation for both parties".

just beacuse construction prices have gone down you consider the developer should offer a discount on the price you agreed to pay - only in the UAE would you hear such logic or should I say illogic argument.

just beacuse construction prices have gone down you consider the developer should offer a discount on the price you agreed to pay - only in the UAE would you hear such logic or should I say illogic argument.

Have you even read of what I am saying ? This is not the only reason why I am asking them to review their pricing...

It is just like in West the govt. made the stimulus package.

If the developer reviews the price than people start selling the project / appartments by virtue of which only the transfer charge the developer gets 2% or even more.This way he can in a way earn funds when the appartment starts to change hands.

Also when the building will be developped as I have mentioned the developper will have more readily accepting delivery of the property and thus they will have good financial situation + will be able to charge maintenance costs !

If people don't move in, the developper cannot charge any maintenance cost & also it will have to support the maintenance of the building.

I am talking about a stimulus package which will in the end be a "win win situation for both the developer and consumer" + it will surely bring it dividend not only in this project but also on other projects of RAK properties, especially in the presently near dead real estate market in UAE.

reading between the lines you dont have the funds to pay the 50% due on completion and need to sell and want RAK to reduce the price - good luck!

reading between the lines you dont have the funds to pay the 50% due on completion and need to sell and want RAK to reduce the price - good luck!

Only me .. you must be kidding ... majority does not have it !

So now what ?

We have been waiting on monthly basis for the handingover of the property and still no news !

When will the island open ?

Just had a word with the sales guys of Rak towers, it seems Tammouh plans to hand over the property to them on 01JAN2011 !

Let's see how true this is.

^^ any news about handover party :)

Wrote to them on 13MAR2011 alongwith copy of my recently rented apartment and am waiting until now !

While I have not been on the island since last 1 month but .. surely it is not happening yet !

«Ras Al Khaimah Real Estate» Apartments begin delivery «Rak Tower»

http://cdn-wac.emaratalyoum.com/polopoly_fs/1.377624.1302023057!/image/2808469668.jpg


Announced Ras Al Khaimah real estate, today announced the commencement of the delivery of housing units one of the most important real estate projects in Abu Dhabi, and is called «Rak Tower», is located in the «Marina Square», within the project of the huge towers that are performed on Al Reem Island in Abu Dhabi.

The Managing Director, Chief Executive Officer, Mohammed Sultan Al Qadi: «Work on the project, which amounted to the cost of implementation of AED 500 million, is expected to hand us the developer certificate of completion of the project no later than the end of this month, so we informed the buyers pay off their dues , in preparation for the completion of extradition procedures and residential units ».

And RAK Tower «Rak Tower», is the first company's projects in Abu Dhabi, and is one of the first phase of projects Towers Al Reem Island, which is composed of 13 towers for residential purposes, and one commercial tower.

Consists «Rak Tower» of 43 storeys, comprising 212 residential units, as the tower has eight units «Penthouse», which occupies the upper floors.

The judge said, «In fact, the complete tower (Rak Tower) at this time and so quickly is a sign of positive development that has occurred on the real estate sector in the State, as a result of the advantages of the task that enjoyed by the tower itself has been sold 80% of residential units».

Source

http://www.emaratalyoum.com/business/local/2011-04-06-1.377643

by CW Staff on July 17, 2011

UAE’s RAK Properties has commenced the handover of RAK Tower in Abu Dhabi, the developer behind the project said in a statement on Saturday.

The 43-storey RAK Tower, is one of the first projects to be completed on Al Reem Island. RAK Tower is located at Marina Square, on the northern shore of Island. The project, whose delivery has started on June 27, consists of 212 residential apartments.

http://www.constructionweekonline.com/article-13223-abu-dhabis-rak-tower-on-track-developer-says/

Hi,

one of my friends owns a two bedroom apartment on the lower floor. He needs to sell it asap. Can anybody help him on this ???

Thanks