Realty Capital strives to complete i-Rise on time

Realty Capital says it is working closely with its main contractor Al Naboodah to achieve the scheduled 2010 completion date of its Dh1 billion i-Rise project.

The supply of resources required for the development is being improved to compensate for a global shortage of building materials, in particular cement. The complex is being built at Tecom Site C in Dubai.

"We have very elaborate growth plans which do not leave room for delays to i-Rise," said Realty CEO Marwan Mansour. "This flagship project is essential for us to sustain the momentum of our rising market reputation.

"The recent resources augmentation keeps our construction on track and reduces the impact of restricted construction material supplies.

"Critical decisions such as these are making i-Rise a model not only of good construction but of professional project management as well."

Realty Capital Middle East is a strategic partnership between Rasmala Investments, a regional investment bank based at the Dubai International Financial Center with subsidiaries in Riyadh, Cairo, Muscat and London, and Khayyat Investments, a UAE-based group with a wide range of national and regional activities.