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Tue 8 May 2007 06:30 PM

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Ground Breaking commences on new i-Rise office Tower in TECOM

Realty Capital Middle East has begun construction on its 37-storey i-Rise office tower in Dubai.

Realty Capital Middle East has begun construction on its 37-storey i-Rise office tower in Dubai.

Upon completion in late 2009, the development will feature a striking curvilinear design in a total built-up area of more than 90,000m2 and will be located at TECOM Site-C, Dubai's Technology and Media Free Zone.

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%," he added.

In addition to office space, the Tower will have 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.

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