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Keeping culture
Solid backing
Holfords Associates is the architect of the project. Holfords was established in Dubai in 1982 and has since made its mark with a wide range of break-through projects in the UAE and the wider Gulf region. Gowealthy Chief Executive Peter Penhall said: "That the contract of Rhodi Residence has been awarded to Solanki Construction and the project is scheduled to be completed in the third quarter of 2010.
Construction has commenced and is on track to be finished within the stipulated date of completion, which is the 3rd quarter of 2010. With prices starting from US$568/sq ft onwards, the project is financed by Badr Al Islami. As Dubai property market acquires transparency with the implementation of Laws No 13 and 14, speculative buying has dropped, lending stability and credibility.
"Backed by a sound master developer like Dubai Properties, Rhodi Residence at Dubai Culture Village has a very solid base. It has tremendous promise mainly because of its prime location in a development comparable to Emaar's Downtown Burj Dubai in terms of size and potential. Thus, I would say it is the right time to invest in Rhodi Residence," adds Peter Penhall.
Gowealthy.com, the global property and lifestyle portal and lead marketing agent of Rhodi Residence, announced at the launch that a massive 53% of the real estate project at Dubai Culture Village has now been sold out in pre-sales. A fusion of all round Arabian and modernist architectural styles, Rhodi Residence offers a total of 61 units consisting of only 7 studios, and one and two bedroom apartments; in one of the most central districts of Dubai, near Dubai Festival City.
Rhodi Real Estate ME, is a part of the UK-based Rhodi PLC and is one of many successful companies from within the group established over the last 30 years. A family owned business that has now a global presence originally started by brothers Mr Firoz Ibrahim Patel, Chairman and Mr Rizwan Patel, CEO. The group has an extensive international real estate portfolio in the UK, Middle East and North Africa with clients such as Marks and Spencer's, Staples and The Arcadia Group.
Future growth
The company has achieved unprecedented growth in its property portfolio for development and investments internationally, all of which has been self-financed. It has expanded internationally in property development and purchasing and continues to grow by capturing more of the international market like Saudi Arabia and India with emphasis on quality, client focused products that have value for the investor" says Mr Javed Patel, Executive Director.
"Rhodi has evolved over a period of time. "We have measured organic growth and have always tried to differentiate ourselves". "Whatever the current market situation the UAE is in, our goal always has been and will be long term." The business is pretty much family owned with a great team behind it. "We are happy with the market reaction with over 50% of the project already pre-sold.
The property is fully transferable to a third party once the 2nd payment (15%) has been made. There is also 2% administration fee of the original price paid for transfer of ownership excluding any government and or municipal and or master developer fees or charges. The Sales & Purchase Agreement needs to also be signed before transfer can take place.
Rhodi's emphasis on quality client-centric products provides buyers with more than a home but a fulfilling lifestyle" said Javed Patel. "The environment, the architecture, the community and the living spaces are what characterize the identity of a residential property. Prudent investors are now looking at quality of living rather than just living spaces.
Fashionable fusion
Rhodi Residences breaks the mould of cookie-cutter apartments by redefining the concept of an urban home within one of the most dynamic and historic neighbourhoods in Dubai. The project is a perfect fusion of old style architecture and urban energy rolled into one. The artfully luxurious residences are designed to enhance a close sense of community in a contemporary lifestyle with every comfort in mind," he added.
Firoz Ibrahim Patel, Chairman, Rhodi, said, "An international-class development calls for world-class architecture as well as exemplary interior and exterior designs. This combined with forward-looking real estate planning creates a project that offers tangible value.
Rhodi has eight projects currently underway in the UAE that include The World, Palm Jebel Ali, Dubai World Central, a niche project in Ras Al Khaimah, as well as a 3 million sq ft mixed-use development in Ajman.
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