Dubai, 13th February, 2014– A ground breaking ceremony launching the construction of Qasr Sabah, RSG International’s premium residential project, being built at a cost of AED 400 million, was held recently at International Media Production Zone (IMPZ)
H.H. Sheikh Mohamed bin Maktoum bin Juma al Maktoum and H.H. Sheikh Abdul Aziz Mohamed Saud Al Thani, special guests at the ceremony, joined Mr. Raj Sahni (Abu Sabah), Chairman of RSG International for the ground-breaking ceremony at Dubai’s latest premium residential address. Other dignitaries present on the occasion were Saeed Mohammad Saif Bin Shafar, Sultan Al Shanqi and Mohamed Al Bahri.
With a visually appealing façade, spacious apartments and state-of-the-art amenities, Qasr Sabah will be synonymous with luxury and style. A number of reasons make Qasr Sabah the ideal place of residence for its occupants. The premium development is conveniently located in the International Media Production Zone (IMPZ), adjacent to Sheikh Mohammad Bin Zayed Road and within easy reach of both the Al Maktoum International Airport and Dubai International Airport.
Also, the Dubai Metro’s Red Line from Jebel Ali Station will be extended to Al Maktoum International Airport, offering efficient mass transit options to Qasr Sabah’s residents. Designed to be a self-contained community development, residents will have easy access to a number of social and leisure options, like malls and restaurants in the vicinity, construction of which has already begun in the plots surrounding the Qasr Sabah site. The construction contract for Qasr Sabah was awarded to Al Shafar National L.L.C in November, 2013.
Qasr Sabah has been funded solely by RSG international, a trend which the company intends to follow in the future as well. RSG aims to complete construction of the project by the third quarter of 2015. With Expo 2020 being the talk of the town, Dubai has seen a surge of new development projects in the recent months. RSG international is one of the handful of private property development companies in the region that have mobilized their plans to expand in the field of property development to cater to the growing demand of real estate for the Expo.
This time around though, economic and financial authorities have incorporated policies that enable them to tightly buckle in real estate growth and ease up on it in a more controlled manner. Property prices in Dubai have already increased between 15% to 45% depending on the area and the amenities it offers. It is estimated that the infrastructure expenditure in lieu of the Expo is approximately $9 billion. Unlike pre-2008, when there was no control over the breakneck speed of expansion in the city, this time around, the pace of economic and financial progress in the city is being closely monitored by various government bodies. Projects have been spaced out over years and months depending on their scale and size to ensure that the city doesn’t buckle under the weight of its own infrastructure ambition. RSG International’s expansion plans too have been carefully distributed evenly across five years, to give the company and buyers breathing alike some space between each premium project.
The Qasr Sabah residential development will comprise three buildings, Qasr Sabah 1, 2 & 3, each building 6 stories high. Securely appointed top notch recreational and lifestyle facilities will be available on each terrace of Qasr Sabah’s three buildings, which will include swimming pools, gymnasiums with state-of-the-art equipment, full-size tennis courts and children’s play areas.
Some of the other premium amenities for the proposed Qasr Sabah project include 500 car parking bays on ground and podium levels; secure parking with CCTV coverage and access control and direct elevator access from the parking to all floor levels. The kitchens will be fitted with refrigerators, washing machines and cooking ranges. The buildings are equipped with high-quality light and interior fittings and scratch-proof porcelain floorings. Also, the design of the building, which is an appealing blend of Mediterranean and Arabic elements, is compliant with the 2013 Seismic Design Code for Dubai.
High-quality construction materials and procedures complying with Dubai Municipality’s Green Building Codes and strict standards in earthquake safety and readiness have been employed by the project’s developers, all of which ensure a secure environment and substantial energy savings. RSG’s goal for the year 2014 is to ensure that the construction of the project is completed on time, in order to hand it over to their buyers in a timely fashion.
An RSG statement says that 2/3 Qasr Sabah 1 has been sold out within 2 weeks of opening bookings to the public. In a similar fashion, the firm is expecting Qasr Sabah 2 & 3 to be sold out too in a mere two months’ time. “This is ample testimony to the project’s popularity with buyers that are drawn to this premium project which offers premium amenities at a prime location,” says RSG chairman Raj Sahni.
The company has nearly 15-20 new development projects in the pipeline which the company aims to complete in the next five years.