Friday, November 28, 2008

Ritaj Community development, up for sale

Dubai Investments Real Estate Company (DIREC), one of the largest investment companies listed in the UAE Stock Exchange, in partnership with, the leading global property lifestyle brand in the region, have announced sales of the latest phase of the Ritaj Community development.

The construction of this unique five-storey project is progressing as scheduled towards its completion and handover to purchasers during June 2009, the official spokesman revealed.

The project comprising 360 studio units would be just right for small families and local companies seeking alternatives to rising rents and operating costs. The prices of apartments begin with Dh.498,000 with a down payment of just2.5 percent.

Ritaj is targeted towards end-users seeking to convert their rent payments into ownership of an appreciating asset and corporations seeking to convert their HRA (Housing Rent Allowance) into a capital asset.

The payment plan permits a payment of just 25 percent to be paid during construction period and the rest 75 percent to be paid at the time of handover, funded through readily available mortgage facility.

A sprawling service wing facility at the ground floor is one of the most enviable features of the development, which the residents are bound to enjoy, in addition to common amenities such as the gymnasium and swimming pool.

The project, along with community as a whole, has the advantage of being in close proximity to the amenities of Green Community, including its shopping arcade, restaurants, supermarket, and The Marriott Courtyard hotel.

Designed by Al Jabal Engineering Consultants, the residents of Ritaj get to enjoy necessary amenities as it forms a part of a fully equipped community center planned by DIRC, and hence can gain access to cafes, restaurants, supermarket, shops, pharmacy, Mosque, clinic, games room and theatre-style movie room.

The Center would be the focal point for residents offering essential services during the day, followed by relaxation and entertainment services offered in the evening.

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