RP Heights by RP Global will offer 268 luxury residences of excellent design and optimum quality
RP global, part of RP Group of Companies, a global business conglomerate, has broken ground on a residential skyscraper in Downtown Dubai in the UAE.
Launched last November by the $4-billion RP Group, RP Global is entering the market with two signature projects in the heart of the city – RP Heights and RP One – worth a total of over Dh5.5 billion ($1.5 billion).
Located near the Dubai Mall, RP Heights will feature 268 luxury residences in a mix of studio, one-, two-, and three-bedroom apartments, in addition to luxurious penthouses on the upper floors.
“We have already broken ground on RP Heights, our first residential project,” says Dr Ravi Pillai, chairman and CEO of RP Group of Companies.
He continues: “The multi-storey RP Heights will showcase RP Global’s distinct lifestyle concepts for the first time. The concept is to give value to investors looking for the finest homes in a central location. The project will have optimal floor area ratios, high ceilings and large balconies to add to the quality of life of residents. Six levels of parking along with three pools will add to the comfort of residents. It will be distinguished from its competitors through its excellent design and build quality.”
RP Heights is being built at a cost of Dh1.5-billion ($407 million) on a 440,000-sq-ft site and will offer a total built-up area of 769,000 sq ft, with a ground floor, two podium levels and 48 storeys. It will have a spacious triple-height lobby, splendid interiors and column-free units. There will also be a retail component in the building.
The consultant on the project is Arif and Bintoak, while the main construction contract award is under process and will soon be awarded to enable the occupation of the building in the last quarter of 2017.
The second project – RP One – is designed to be the second tallest tower in Dubai. The iconic mixed-use development on Sheikh Zayed Road will be unveiled in the second half of this year.
This Dh4-billion ($1.1 billion) development is situated behind the Business Bay Metro Station and will further define the Dubai city skyline.
Commenting on the projects, Dr Pillai says: “Not many companies have access to the private resources that we can tap into and this in itself is of great significance. RP Group has a strong financial record across six different sectors that range from healthcare to education, and include property development and contracting. It is the backbone behind RP Global’s scale and path to success.
“RP Global’s vision is to create world-class real estate projects that sets the company apart through its superior build quality and excellent design. We want to use our investment of $1.5 billion to carve a distinct identity for ourselves in real estate. By building unique high-investment lifestyle concepts with our own internal financial, we are already setting ourselves apart. Additionally, we are using land owned by us for our first two signature projects.
“What we bring to the table, is our exceptional track record in construction and contracting through our company Gulf Asia Contracting. By partnering with them, we can unmatched development synergies and create economies of scale. We can also control our construction schedule better to ensure timely delivery, and top-notch construction. Achieving all these goals is very much part of our strategy and vision.”
RP Global, Dr Pillai adds, will continue to expand strategically to new geographies and new businesses and is already looking at opportunities in Abu Dhabi.
Commenting in the market, he says: “Dubai has a strong economy with robust economic fundamentals and this is an ideal opportunity to invest in property. The city is today a global hub for business and leisure and the economy is growing at about five per cent. The population is expected to increase by 50 per cent to three million by 2020 which is bound to create further demand for quality real estate.
“Additionally, the preparations for the World Expo 2020 has further catalysed the economy. I have studied the market thoroughly and I strongly believe that now is an ideal time for RP Group to invest in Dubai’s property sector. I believe in the sustainability of Dubai and my plan is to ensure that RP Global brings great value to the real estate sector in Dubai.”
With a geographical footprint across the Middle East, Asia, Africa and Australia, the RP Group of Companies is one of the largest employment providers in the region with more than 85,000 employees, which is set to increase to 100,000 by end-2015.
The group has executed projects worth over $25 billion globally, and has 26 business entities in 20 cities across nine countries, with a track record in heavy civil and building works over the last 20 years.