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Al Reem Island A natural island off the coast of Abu Dhabi island being developed by Sorouh (Shams Abu Dhabi), Reem Investments, and Tamouh



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Old February 20th, 2008, 04:20 PM   #1
bizzybonita
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#APPROVED: FALCON CREST TOWER, 23F Res (Shams Abu Dhabi)

Project: Falcon Crest TOWER
Location: http://wikimapia.org/#lang=en&lat=24...09924&z=19&m=b
Floor Count:3basement parking levels+3podium levels + 19FLOORS
Height:
Type: residential
Status: ?
Construction Start: ?
Construction End: end of 2010




The real estate branch of a Saudi Arabian conglomerate, Rakaa Properties, has announced a Dh.1billion project, at Reem Island in Abu Dhabi.

The project, comprising three towers, two of which are residential towers and one commercial, will be developed for mixed-use. The average introductory price of the units is Dh.1550 per square foot. This freehold development is expected to be delivered towards end of 2010.


The COO of Rakaa Properties, Mahmoud Naji, when speaking during the Abu Dhabi Real Estate and Investment Show (IREIS) 2008, mentioned that the proposed towers, one of which is 'Falcon Crest', will have 139 units, while the other 'Dynasty' will have 125 units. The third tower, 'Marina tulip' will house 35 storeys, out of which 27 would be residential floors, and the rest eight floors will be commercial storeys. The construction is expected to begin soon.

This project in Abu Dhabi is Rakaa's maiden venture into UAE real estate business. At present, Rakaa has announced developments in Jordan and Saudi Arabia.

Established in 1990, Rakaa is a subsidiary of Rakaa Holding, and has developed a wide range of properties, that include, malls, residential apartments, office buildings, luxury villas, and farms and ranches in Saudi Arabia.
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Old February 20th, 2008, 04:25 PM   #2
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Rakaa will sell units at Dynasty and the Falcon Crest Towers through Cornerstone


Abu Dhabi, 27th of January 2008: RAKAA Properties signed a contract with Cornerstone, to be the exclusive sales agent for RAKAA's latest Reem Island projects; Dynasty Tower and Falcon Crest in Abu Dhabi.


Commenting on the deal, Dr. Abdulraman Al-Tassan, the CEO of RAKAA Properties, said: "We have been keen to monitor the property market, understand its sale and purchase movements, fluctuations and forces. We are willing to have a direct supervision over our projects and to effectively communicate with clients and investors in order to achieve a very strong regional presence. For this end we have selected the reputed Cornerstone Real Estate as an exclusive sales and marketing agent for Dynasty and the Falcon Crest Towers. We are sure that we will benefit from their regional experience".


'RAKAA Properties has continually developed the highest quality properties and we were extremely impressed with their plans for Abu Dhabi,' commented Ziad Bushnaq, CEO of Cornerstone. 'Dynasty Tower and Falcon Crest are fantastic investment opportunities due to their unique design concepts, spectacular full sea views, prestigious locations and smart home technologies equipped units. With Cornerstone's local property success and industry knowledge, and RAKAA's impeccable reputation for offering luxury and high quality to their clients, we foresee a mutually beneficial partnership that cannot be beaten,' concluded Bushnaq.

The two Dhs750m, 27 and 22-storey tower projects will house a multiple mix of studio apartments and 1, 2, 3 and 4 bedroom luxury apartments and retail outlets, and will be on sale to prospective expatriate and UAE national homeowners. Both towers comprise of 3 basement parking levels, 2 and 3 podium levels and 25 and 19 residential floors in Dynasty Tower and Falcon Crest respectively, and include an array of modern amenities including the 'Smart Home' system, health club, outdoor swimming pool and a designated children's area. The projects are scheduled to be ready for occupancy in 2010 and will offer an unparalleled view of the Island, Marina, Sea, and Abu Dhabi skyline.
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Old March 21st, 2008, 05:38 PM   #3
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RAKAA sells 70% of Dynasty Tower, 55% of Falcon Crest Tower




RAKAA Properties, one of the region's preeminent real estate companies, has announced the selling of 70% of the Dynasty Tower and 55% of Falcon Crest Tower, two of the company's signature projects situated in the prestigious Al Reem Island, Abu Dhabi.Commenting on the occasion, Dr. Abdul-Rahman Al-Tasan, CEO of RAKAA Properties, said 'the successful promotion of our projects through the gatherings we are participating in has helped draw in a huge interest in our properties and helped us sell around 70% of Dynasty Tower and 55% of Falcon Crest Tower in a record time'.

'The distinguished features of the two projects and the world-standards techniques used in their development, not to mention the convenient investment climate enjoyed by Abu Dhabi, now becoming the center of attention and admiration for businessmen and investors, are all factors that have helped secure considerable demand on our developments'.

In the meantime, Dr Tasan has underscored the importance of the recent customs duty waiver on cement and steel, hailing it as a prudent decision from a man of vision.

'The decision is an expected move by a man with a unusually keen foresight. It is likely to further heat the already fierce competition in the property market and stimulate more growth. We still expect more such decisions that help check the burdening inflation'.

The Marina Tulip Tower, the Dynasty Tower and the Falcon Crest Tower are all smart technology equipped and feature stunning views that overlook the sea and the island's mangrove trees. The project also boasts swimming and gymnastics halls and gardens in each of its three towers.

The Dynasty Tower will be solely dedicated to residential purposes at a height of 29 storeys, where there will be 136 apartments ranging from one to four bedrooms and the Falcon Crest Tower boasts 24 floors allocated for residential purposes with limited retail spaces.

Abu Dhabi is witnessing a rapid economic growth that is encompassing all its economic sectors and urban developments, boasting a large share of the UAE construction and property market.
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Old April 25th, 2008, 06:31 PM   #4
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Does that mean they will also launch a Dallas Tower and The Colbys Tower ;)
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Old May 17th, 2008, 01:06 AM   #5
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here the location map

http://www.simsari.com/search/proper...&tk_s=&tk_b=VP
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Old April 13th, 2012, 12:27 PM   #6
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Signboard, Team Engineering Enterprises Ltd is announced as the contractor, no works started.

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