Dubai Real Estate Investment Company (DIRC) has initiated the delivery of 2,024 luxury residential units within Ritaj, a high-end project at Dubai Investments Park.

Ritaj consists of 1,343 spacious studio apartments, 447 bedroom apartments, 194 two bedroom apartments and 40 three bedroom apartments.

The project also hosts an in-house shopping mall, with a variety of retail shops that caters for the needs of the residence, along with the other vital facilities and amenities within the project. The Ritaj apartments are divided across 11 buildings covering a total area of 2,580,000 sq ft.

Ritaj launched an offer with a number of value-added promotions to attract tenants seeking spacious quality apartments at reasonable prices. The offer includes a flexible payment plan which allows potential tenants to pay over multiple cheques without having to pay an agency commission, along with the option to benefit from a rent -to -own offer without any hidden fees or down payment.

These offers will enable potential tenants to experience the lifestyle within the Ritaj gated community without any pressure or additional charges before practicing their option to purchase a house at Ritaj.

Obaid Al Salami, general manager of DIRC said: “The project provides a new benchmark for the modern lifestyle in Dubai; Ritaj offers outstanding value for potential tenants at affordable prices starting from as low as Dh23,000 ($6,261) per annum without compromising on quality. These prices suit the different segments of society.”

Ritaj provides around-the-clock security, maintenance and cleaning services for the convenience of tenants and residents. The residents will also enjoy shopping within the in-house mall which boasts more than 50,000 sq ft of mixed retail shops including a large supermarket, a variety of luxurious restaurants and cafes, medical facilities, mosques, and plenty of parking spaces for tenants and their visitors.

Al Salami added: “The main and long-term objective of the project relies on providing small and medium sized families with a quality lifestyle beyond their expectations. I think Ritaj has achieved this goal and provided innovative solutions based on customer insights and interests.

“Ritaj is strategically located away from the pounding traffic and noise of Dubai yet it is still magically nearby from key attractions and highways. It takes less than an hour to reach Abu Dhabi from Ritaj.”

Ritaj appointed Harbor Real Estate, one of the leading integrated real estate service providers, exclusively to lease and deliver the apartments in Ritaj.

Said Mohanad Alwadiya, managing director of Harbor Real Estate, said: “We are delighted to be part of this unique project and very proud at the same time to have won this important contract after being shortlisted from a large selection of Real Estate service providers.”

Harbor Real Estate formed a dedicated team of specialists to manage this project that consists of five professional consultants with experience in marketing and leasing of residential and commercial properties.

The newly appointed team will assist potential tenants or buyers who are looking for a home within the Ritaj gated community.

Harbor Real Estate expects the rents to continue to decline in areas such as “Discovery Gardens” and “International City” because of the completion of many new projects and emergence of new attractive leasing campaigns that cater to potential tenants from the middle income segment. Tenants are expected to continue to migrate to these new projects to take advantage of their low prices, high quality, complete facilities and distinctive services offered within these projects.

Alwadiya added: “The complex has high potential in attracting tenants from neighboring Dubai and other emirates as the project is strategically located and easily accessible from Emirates Road.'

To promote the project Harbor Real Estate launched an Open House campaign which runs seven days a week to attract tenants and buyers from different nationalities and emirates.

“The results we witnessed from so far are excellent; we have rented more than fifty residential units and received booking for seventy other units. We have launched another campaign on June 7, 2012 with more innovative value added offers,” Alwadiya said. – TradeArabia News Service