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Sun 26 Oct 2008 04:00 AM

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Rakaa Properties sells 85% of tower projects

Rakaa Properties, the real estate arm of Saudi Rakaa Holdings, has announced the sale of 85 % of its US$208mn Dynasty Tower and Falcon Crest Tower projects in Al Reem Island, Abu Dhabi.

Rakaa Properties, the real estate arm of Saudi Rakaa Holdings, has announced the sale of 85 % of its US$208mn Dynasty Tower and Falcon Crest Tower projects in Al Reem Island, Abu Dhabi.

The 29-storey Dynasty Tower and the 24-floor Falcon Crest Tower will both be residential properties.

Dr Abdul Rahman Al Tasan, CEO of Rakaa Properties, said: "We were not surprised to see an audience of this size attend Rakaa Properties' projects.

Numerous developers and experts in the UAE property market confirmed that the mark left by Rakaa Properties in the real estate market is a distinguished one, a mark that will popularize smart building technology in all upcoming architectural projects in the region, especially with the call for environment-preserving and power-saving procedures."

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