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

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.