#PROJECT-Ras Al Khaimah: JULFAR TOWERS, 40F + 40F Res+Com, ?m+?m - SkyscraperCity
 

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Northern Emirates Projects in Ras al-Khaimah, Umm al-Quwain, and Fujairah


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Old February 19th, 2006, 02:12 PM   #1
THE DUBAI GUYS
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#PROJECT-Ras Al Khaimah: JULFAR TOWERS, 40F + 40F Res+Com, ?m+?m

Start: 2006
Finish: 1st quarter 2008
Cost: AED 400 million
Height: ?m
Floors: 40 each
Use: Residential and Commercial (Hotel)
Location: Centre of RAK
[IMG]http://i1.************/o53iv9.jpg[/IMG]
RAK Properties unveils AED 400 million ‘Julfar Towers’

[Sunday, February 19, 2006 3:10:00 pm]

RAK Properties (PJSC), the premier real estate development company of Ras Al Khaimah, announced the launch of its first project, “Julfar Towers”. The project is a residential and commercial development comprising of two towers, built in the centre of Ras Al Khaimah.

Towards the end of last year, His Highness Sheikh Saud Bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah, issued a freehold decree allowing foreigners and expatriates to enjoy full ownership of properties developed by RAK Properties in RAK emirate, which includes Julfar Towers.

Furthermore, investors in the Julfar business tower will enjoy the benefits of mainly 100% foreign ownership.

Mohammed Sultan Al Qadi, Managing Director, RAK Properties, commented: “We would like to express our deep gratitude towards HH Sheikh Saud Bin Saqr Al Qasimi for his vision and guidance, without which we wouldn’t be able to develop such projects. RAK Properties is pleased to unveil the Julfar Towers, which is one of RAK Properties’ premier projects. We at RAK Properties aspire to build and establish our status as a sound and leading real estate developer in the country and the region.”

The Julfar Towers consists of two 40 storey towers, one residential which has 349 apartments and one office tower which has 468 offices built over three level podium which provides retail, food outlets and central facilities .

The Residential tower provides flats varying from studios up to four-bedroom deluxe apartments, and will also include a very limited number of exclusive duplexes. The Office tower features state-of-the-art units in various sizes.

In addition, residents of both towers will benefit from an advanced business centre and a parking area that can cater for approximately 1,500 cars. A Fitness Centre and kinder garden will also be established.

The project has a prime Ras Al Khaimah city centre location overlooking the creek, mangroves and the mountains surrounding Ras Al Khaimah gives both towers’ residents breath-taking views. The development is also a few minutes away from the Manar mall, Hilton hotel, beaches and the golf club.

The main competitive advantages that Julfar Towers will have are the free hold law and the payment scheme. Investors will follow a payment scheme based on construction, whereby they would pay divided amounts of the total cost of their flat or office according to the structural development of the Towers.

The payment scheme includes paying 15% upon booking, 10% upon signing the contract, 15% on completion of structural work till 20th floor, 15% on completion of structural work till 43rd floor, and the remaining 45% to be paid upon completion of the towers.

This scheme has been developed to ease payments for investors, and enable the investors to maximum finance through selected financial institutions.

Al Qadi concluded: “RAK Properties is committed to developing quality products to cater to the local market’s demand for real estate. Julfar Towers will be the foundation for more real estate development projects to come in the near future. “

The project construction has started and is expected to complete by the first quarter of 2008.
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Old February 20th, 2006, 07:25 AM   #2
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Their ad came in the papers today. Seems you get a freezone license (off) and freehold status (res). Neat stuff for RAK.

With all that cement in RAK, I am sure it'll be strong too :-D!!
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Old February 20th, 2006, 11:22 AM   #3
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julfartowers.net

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Old February 20th, 2006, 01:57 PM   #4
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way to go rak ..... our first twin towers
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Old February 27th, 2006, 03:05 AM   #5
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Its about time that RAK Properties started churning out properties and its first project, Julfar Towers, seems like a good start.

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Old February 27th, 2006, 03:31 AM   #6
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looking good. but why rak.
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Old February 27th, 2006, 06:47 AM   #7
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coz there are humans too in rak
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Old February 27th, 2006, 06:52 AM   #8
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^ what is the point of having towers while the only thing RAK has is water with taste, shitty infrastructure, cattles moving around and blackout 2-3 times a day?
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Old February 28th, 2006, 01:40 PM   #9
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I am having funny thoughts about what could happen if a person was working on X floor that faces his apartment on the other X floor

Anyways, let us not make this about RAK and talk about the towers, because nobody can deny the fact that RAK is advancing, despite its current negatives.
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Old March 3rd, 2006, 03:01 PM   #10
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Nice towers.. So is RAK's infrastructure really that bad...!!?
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Old March 3rd, 2006, 03:12 PM   #11
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similar to bahrain

no joking, their infrastructure is really bad, at least comparing to our standard. It is getting better though.
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Old March 3rd, 2006, 05:34 PM   #12
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infrasture ... we like it the natural way
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Old March 3rd, 2006, 06:02 PM   #13
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This project alone contributes about 4.5% of RAK's total GDP
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Old April 24th, 2006, 07:38 PM   #14
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Bids in for Julfar towers
CONSTRUCTION UAE
21 Apr 2006
At least four companies have submitted bids for the estimated AED 400 million ($109 million) Julfar towers project in Ras al-Khaimah. Local developer RAK Properties is the client. The bidders, all local, include Al-Hamad Contracting Company, Al-Nuaimi Contracting, Darwish Engineering and Sun Engineering.

Located opposite the Hilton hotel facing the creek, the development consists of two 40-storey towers, which will comprise 349 apartments and 468 offices. Both towers will be built over a three-level podium with retail and food outlets. The buildings will have about 1,500 car parking spaces. Al-Hamad has completed the site preparation works. The local Arenco is the consultant (MEED 24:2:06).

R
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Old April 24th, 2006, 07:48 PM   #15
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don't bash other cities guys, especially the UAE ones
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Old June 26th, 2006, 06:41 PM   #16
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ACC bags Julphar Towers contract
BY OUR STAFF REPORTER

13 June 2006



RAS AL KHAIMAH — The RAK Properties, the premier real estate development company of RAK emirate, has awarded yesterday the main construction contract of Julphar Towers to Al Hamad Contracting Company (ACC).

The Juphlar Towers is one of the first major projects of RAK Properties. The project, located in Al Nakheel area, near RAK Bridge, consist of two towers of 43 level each equipped with state-of-the-art facilities that meet all requirements of investors as well as end-users. "Awarding this project to one of the biggest contracting companies highlights our commitment towards investors to guarantee quality products," Mohammed Sultan Al Qadi, MD, RAK Properties, said.
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Old August 9th, 2006, 02:37 PM   #17
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RAK Properties to use MasterKey real estate software to manage 'Julfar Towers'

RAK properties, the premier real estate development company of Ras Al Khaimah has teamed with MasterKey Systems, the regions leading real estate software company, to provide a complete sales solution for the twin, 43-storey Julfar Towers.

The towers, estimated at AED 500 million, will be located in the center of Ras Al Khaimah and consist of both a residential tower and an office tower. Providing residents with full amenities such as parking, a kindergarten, a fitness center and various retail outlets, the Julfar Towers have been developed by RAK Properties to meet and exceed residents' high expectations.

To help ensure the success of this tremendous project, RAK Properties has enlisted the services of MasterKey Systems, using their mkSales and mkProperty Management packages to help administrate the Julfar Towers.

Developed locally with the needs of an exploding property market in mind, MasterKey can ensure that it provides the most comprehensive sales and property management platform on the market.

Its innovative web-based database solution provides its users with several advantages over the competition, by providing users with immediate access to fully comprehensive information on both clients and units.

'We were overwhelmed with the response we received towards selling freehold units at 'Mina Al Arab' & 'Julfar Towers',' said Mohammed Sultan Al Qadi, Managing Director, RAK Properties. 'This reflects the investors' trust in RAK Properties' projects. As such, we need online services like those provided by MasterKey Systems, as they are an invaluable tool in making those sales go smoothly and efficiently'.

Using the mkSales package, agents can track unit status, show customers unit details, directly make reservations and sales as well as print receipts; pulling all relevant information from a centrally maintained database.

'Six years of experience in the local real-estate market have given us the experience to craft our services to meet all the needs of our users,' said Daniel Hart, Operations Manager at MasterKey Systems. 'Our online platform allows businesses to streamline and efficiently manage their properties, from concept through sales and beyond, and it allows us as a service provider to respond rapidly and decisively to the ever changing needs of the market.'

The new revolution for technology companies is to provide their services online. MasterKey Systems is on the forefront of this 'On-Demand' phenomenon in software delivery, along with such esteemed companies as Google and Microsoft Office competitor Goffice. Players in the technology field refer to it as 'The Business Web', and it allows its practitioners the flexibility and the room to adapt and prosper.
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Old August 13th, 2006, 12:37 AM   #18
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Quote:
Originally Posted by smussuw
similar to bahrain

no joking, their infrastructure is really bad, at least comparing to our standard. It is getting better though.
what do u mean infrestructure. like roads and bridges or schools and hospitals??
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Old August 21st, 2006, 01:02 PM   #19
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Some Julfar Towers property listings by RAK Properties.
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Old August 21st, 2006, 01:09 PM   #20
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Quote:
Originally Posted by YeMeNi_guy
what do u mean infrestructure. like roads and bridges or schools and hospitals??
everything
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