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Over 70 per cent of Phase 1 of DIRC’s ‘Ritaj’ Project Sold Out within a Week of its Launch - AED 2 billion worth of commercial projects to be launched by DIRC in coming months
Over 70 per cent of Phase 1 of DIRC’s ‘Ritaj’ Project Sold Out within a Week of its Launch

 

PRZOOM - /newswire/ - Dubai, UAE, United Arab Emirates, 2006/11/07 - AED 2 billion worth of commercial projects to be launched by DIRC in coming months.

   
 
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Dubai Investments Real Estate Company (DIRC), the real estate arm of Dubai Investments PJSC, has announced that ‘Ritaj’, its first residential project at Dubai Investments Park has received an overwhelming response from investors, with over 70 per cent of the first phase of the project being sold out within a week of its launch.

‘Ritaj’ is a project designed to epitomize the concept of affordable luxury. The development provides a range of more than 2,200 housing units, including studios, one, two and three bedroom apartments that offer world-class facilities. Residents at the project will enjoy fully serviced accommodation, which includes 24-hour security, maintenance and cleaning.

“The overwhelming interest generated by the ‘Ritaj’ project is a reflection of the tremendous investor confidence and trust in Dubai Investments Real Estate Company,” said Khalid Kalban, Managing Director and Chief Executive Officer, Dubai Investments. “Achieving 70 per cent sales for the first phase that includes 1,100 apartments, in less than a week’s time, is certainly commendable and we are confident that the second phase which will be launched soon will receive the same level of response.”

DIRC offices have been flooded with enquires from national and expatriate potential buyers from across the UAE ever since the project was launched last week. Several companies have booked entire buildings at ‘Ritaj’ to provide accommodation for their employees, as the development is conveniently located in the heart of Dubai Investments Park.

‘Ritaj’ will be a self-contained community with restaurants, cafes, shops, supermarket, clinic, pharmacy and mosque. Complementing these amenities will be a host of entertainment and recreational facilities including swimming pools and landscaped gardens, offering high quality lifestyle to residents.

Moreover, the residents of ‘Ritaj’ can also benefit from all the facilities available in Dubai Investments Park, such as mosques, medical centers, hotels, schools, cricket and football fields, civil defense facilities, public buses, commercial showrooms and restaurants.
Obaid Al Salami, General Manager, Dubai Investments Real Estate Company, said, “The success of ‘Ritaj’, which is our first residential project, makes us well-positioned to promote other major projects that will be launched shortly. Currently we have projects worth AED 2 billion in the pipeline, which include residences, warehouses and offices.”

 
 
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Over 70 per cent of Phase 1 of DIRC’s ‘Ritaj’ Project Sold Out within a Week of its Launch

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