Realty Capital is closely coordinating with Al Naboodah to properly address the impact of a widespread shortage in concrete and thus maintain the scheduled 2010 i-Rise completion date.
“We have impressive growth plans which do not leave room for delays to i-Rise. This flagship project is essential for us to sustain the momentum of our rising market reputation,” said Marwan Mansour, CEO, Realty Capital.
“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,” concluded Mansour.
Realty Capital Middle East FZ LLC is a strategic partnership between Rasmala Investments, a regional investment bank head quartered in Dubai International Financial Center (DIFC) with subsidiaries in Riyadh, Cairo, Muscat and London; and Khayyat Investments, a prominent UAE-based group with a wide range of national and regional activities.
Tuesday, August 5- 2008 @ 10:39 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.