#COMPLETED: I-RISE TOWER, 37F Com (TECOM C) (Plot C-006-005)

Ground breaking commences on new i-Rise office tower in TECOM

Realty Capital Middle East FZ LLC has recently announced that ground breaking has commenced on its Dubai's office tower 'i-Rise', a 37-storey development earmarked to become one of the most prominent business towers in the Arab World.
United Arab Emirates: 10 hours, 35 minutes ago PRESS RELEASE


Left to right: Cherine Mohsen Chalaby , Rasmala Investments , Chairman supervisory Board Amer Al Khayyat, Khayyat Group Ali Al Shihabi, Founder and CEO, Rasmala Investments Dr Issam al Rahbi, iHilal Ahmad Khayyat , Khayyat Group Sheikh Saeed Baghlaf Tamer Bazzari, Executive Partner, Rasmala Investments Marwan Mansour, CEO, Realty Capital.

Upon completion in late 2009, the development will feature a striking curvilinear design in a total built-up area of more than one million square feet. Strategically located at TECOM Site-C, Dubai's Technology and Media Free Zone, the i-Rise Tower will incorporate a modern business infrastructure in a corporate hub, offering investors freehold ownership opportunities.

Commenting on the launch, Marwan Mansour, Chief Executive Officer, Realty Capital said,


'The increasing demand for office space in Dubai has encouraged us to create a unique corporate concept based around the dynamics and demands of a challenging business environment. The i-Rise Tower will become an iconic feature of TECOM, with its visually striking design incorporating a high-tech, modern environment conducive to success.'



'With the enabling works already commenced, we are now dedicated to making the i-Rise project a successful investment and a well-known corporate address in Dubai. Dubai's corporate real estate market is considered to be a valuable investment opportunity as the current occupancy rate of office space is almost 99 per cent,' Mansour added.

In addition to premium office space, the i-Rise Tower will incorporate unique office layouts, restaurants, coffee shops, retail space, a fitness centre and a multi-storey car park. Several executive offices will also be available, featuring office space with maximum levels of natural light, private high speed elevators, helipad access and en-suite restrooms.

Realty Capital Middle East FZ LLC is owned by Rasmala Investments, the Khayyat group from UAE and the Saudi Baghlaf group.

The completed project will present an unusual architectural design, in the form of a wave-like profile finalized by Khatib & Alami Consolidated Engineering Company, a leading architectural and engineering consultancy firm in the Middle East and North Africa (MENA) region.

The project will be showcased during Cityscape Abu Dhabi 2007, taking place at the Abu Dhabi National Exhibition Centre (ADNEC) from May 08 - 10, 2007.

Realty Capital officially launches AED 1 billion state of the art office tower 'i-Rise'

The sizable new 'i-Rise', being developed by property developer Realty Capital Middle East FZ LLC to become the region's landmark business tower and a prestigious corporate address, was officially launched yesterday during a VIP cocktail event that was attended by a number of dignitaries.


i-Rise office tower.

Construction has already started on the approximately AED 1 billion 37-storey project, which will become one of the largest business towers in the region, incorporating a total-built-up office area of more than one million square feet in Dubai's Technology, E-commerce and Media Free Zone (TECOM), Site-C.

On completion in late 2009, i-Rise Office Tower will feature a distinctive curvilinear design, which has been specifically tailored to provide unique office layouts that will allow for maximum exposure to natural light, with panoramic views of new Dubai and the Arabian Gulf. The project is conveniently located off Sheikh Zayed Road, with easy access to the upcoming TECOM Metro Station.

'The launch event was successful and exciting,' commented Marwan Mansour, Chief Executive Officer, Realty Capital Middle East. 'Investors have been very interested in the unique features of our new development, which has been built to satisfy the dynamics and demands of a challenging corporate environment. The i-Rise Office Tower will set the pace for office building designs in Dubai through its visually compelling quality and state-of-the-art infrastructure and communication systems,' Mansour added.

Office modules in the Tower start from 700 square feet in size, offering investors a free zone location and freehold title. Premium facilities have been included in the design, including executive offices, private high-speed elevators, restaurants, coffee shops, retail space, a fitness centre and an extensive multi-storey car park.

Mr. Mansour added that Realty Capital Middle East has partnered with several of the world's top service providers for the design, development, execution and sales of the project, including, Khatib & Alami Consolidated Engineering Company, a leading architectural and engineering consultancy firm in the MENA region; Projacs International, one of the largest Pan-Arab project and construction management firms; Better Homes, the leading real-estate company in the region, as the exclusive sales consultant for this development outside Saudi Arabia; and Al Raeda Real Estate Development Co. Ltd. as the sales agent for i-Rise in Saudi Arabia.

'The high occupancy rate of offices and the increasing demand for quality office space in Dubai has encouraged us to create a unique, high-tech, modern and landmark destination in a viable location. There are many benefits of having a business located in TECOM, such as no foreign ownership and employment restrictions, in addition to custom duty exemption,' Mansour concluded.

This seams to be very wide and they say construction has started and the location is just off SZR: This means the location should be just behind that huge TECOM billboard, parallel to Al Yassat Tower but on the other side of the EPPCO Petrol station and in front of the first row of Tecom towers.

That huge site is under construction and only Novotel Barsha would be so big to fit in there, but we know that Novotel will not be build there. No board of any kind on the site though.

AltinD said:

This seams to be very wide and they say construction has started and the location is just off SZR: This means the location should be just behind that huge TECOM billboard, parallel to Al Yassat Tower but on the other side of the EPPCO Petrol station and in front of the first row of Tecom towers.

That huge site is under construction and only Novotel Barsha would be so big to fit in there, but we know that Novotel will not be build there. No board of any kind on the site though.

Click to expand...

but isn't this the site for the onyx project?

^^ No, Onyx project is next to Emaar Business Park where now is a huge parking lot.

This is the area (red circle):




So the site for Onyx would be just beneath the red circle.

Construction has started and ZETAS is doing the piling and shoring work. The location however is totally different of what we thought it might be.

This is on the bottom right corner (big) plot on Dazz map's below.

dazz said:

height colormap

Click to expand...

Realty Capital awards Al Naboodah Dhs555m contract for the construction of i-Rise Tower


Leading property developer Realty Capital Middle East FZ LLC has announced that it has awarded Al Naboodah Contracting a Dhs555m contract for the construction and execution of i-Rise commercial Tower.



Left to Right: Senan A.M. Al Naboodah, Director of Al Naboodah Contracting, Mr. Marwan G. Mansour, Chief Executive Officer, Realty Capital Middle East.


The 37-storey project is located in Dubai's Technology and Media Free Zone (TECOM), Site-C.

Envisioned as the region's landmark business tower and a premier corporate address, i-Rise commercial Tower will be one of the largest business towers in the region, incorporating a total built-up-area of more than one Million and eight hundred thousand square feet.

Marwan G. Mansour, Chief Executive Officer, Realty Capital Middle East, said, 'Time is critical for this project as investors expect timely delivery of such a prestigious project. With Al Naboodah at the helm, we strongly believe that we can deliver the project on time and meet the highest quality standards. Phase one of the project; enabling works, is running without difficulties, so we expect a smooth transition to the second phase of construction, the main works."

"Additionally, Al Naboodah has a solid track record, having been in the business for over three decades. With such experience and an impressive project portfolio in civil construction, Al Naboodah became our preferred choice for the project," added Mansour.

Al Naboodah Contracting began operations in 1968. As one of the country's leading contractors, it has kept pace with Dubai's rapid development and expansion, successfully completing hundreds of contracts since its inception. Construction on i-Rise is predicted by begin in November 2007 upon the completion of the ongoing enabling works, with Al Naboodah committed to delivering the project on time, by December 2009.

Aside from Al Naboodah Contracting, and in fulfilment to its commitment to its investors, Realty Capital has partnered with other world-class service providers for the project, including Rasmala Investments, Better Homes as exclusive sales consultants, Projacs International for project management services, and Khatib & Alami Consolidated Engineering Company, a leading architectural and engineering consultancy firm in the Middle East and North Africa (MENA) region.

The identifiable wave-like profile of the tower reflects the advanced infrastructure and technology-focused vision of the development. i-Rise Tower will offer office modules starting from 700 square feet in size, providing investors a free zone location and freehold title in a highly visible location. Furthermore, the project offers state-of-the-art facilities and amenities. i-Rise Tower is uniquely designed to incorporate both corporate and executive offices, 18 high-speed elevators, restaurants, coffee shops, prominent retail space, a fitness centre, a helipad and an extensive multi-storey car park.

Realty Capital Middle East FZ LLC is a strategic partnership between Rasmala Investments a regional investment bank head quartered in Dubai International Financial Center (DIFC) and has subsidiaries in the United Kingdom and Saudi Arabia, Saeed Ahmed Baghlaf from Saudi Arabia, Dr. Saad Al Khayyat and sons from the UAE as well as other partners.

The project will be showcased during Cityscape Dubai, stand MD19, Sheikh Maktoum hall, from October 16 to18, 2007.

Naz UK said:

I think its very clever...a kind of play on words with I-Rise sounding like "high rise", and also, the use of the "I" denoting "technology" (for TECOM) and "Information Technology" (again for TECOM) or "I" for "internet" (for its close proximity to Internet City).

Click to expand...

After having watched a dane cook show just no this comment sounds very sarcastic but i agree

08/November/2007

I-Rise (Tecom)

Press Release


50 per cent of Realty Capital’s i-Rise Commercial Tower sold as raft foundation work kicks off

February 6, 2008


Realty Capital Middle East FZ LLZ has announced that the preparatory work on the raft foundation phase of main construction has commenced on its 37-storey i-Rise Commercial Tower, coinciding with project sales exceeding 50 per cent. Construction has commenced by the main contractor Al Naboodah Contracting, following completion of the piling work by Zetas.

On completion in 2009, i-Rise Commercial Tower will feature a distinctive curvilinear design with a total-built-up area of more than 1.8 million square feet in Dubai’s Technology, eCommerce and Media Free Zone (TECOM) Site-C. In addition to a free zone location and freehold title in a highly visible location, the Tower will also offer premium facilities such as 18 high-speed elevators, restaurants, coffee shops, retail space, a fitness centre, a helipad and an extensive multi-storey car park.

Marwan Mansour, CEO of Realty Capital, said, “Our project is driven by our commitment to the timely delivery of this high quality commercial tower, which is why we have partnered with only first-class companies such as Khatib & Alami for design and supervisions, Al Naboodah Contracting for main construction works, and Projacs for project management. Our strong sales success reflects the investor trust we have earned and the eagerness to invest in what will become one of the region’s largest business towers.”

Realty Capital Middle East FZ LLC is a strategic partnership between Rasmala Investments, a regional investment bank head quartered in Dubai International Financial Center (DIFC) with subsidiaries in Riyadh, Cairo, Muscat and London; and Khayyat Investments, a prominent UAE group with a wide range of activities in the UAE and the region.

Realty Capital strives to complete i-Rise on time



Realty Capital says it is working closely with its main contractor Al Naboodah to achieve the scheduled 2010 completion date of its Dh1 billion i-Rise project.

The supply of resources required for the development is being improved to compensate for a global shortage of building materials, in particular cement. The complex is being built at Tecom Site C in Dubai.

"We have very elaborate growth plans which do not leave room for delays to i-Rise," said Realty CEO Marwan Mansour. "This flagship project is essential for us to sustain the momentum of our rising market reputation.

"The recent resources augmentation keeps our construction on track and reduces the impact of restricted construction material supplies.

"Critical decisions such as these are making i-Rise a model not only of good construction but of professional project management as well."

Realty Capital Middle East is a strategic partnership between Rasmala Investments, a regional investment bank based at the Dubai International Financial Center with subsidiaries in Riyadh, Cairo, Muscat and London, and Khayyat Investments, a UAE-based group with a wide range of national and regional activities.

Construction Updates











Source
http://www.i-rise.ae/photoGallery.asp?id=9