RP Heights is located in the Downtown Dubai District and features studio, 1, 2, 3 and 4 bedroom apartments as well as a handful of penthouses. The project is located directly behind the Fountain Views complex and neighboring buildings include Address Fountain Views, The 118, Mada Residence, Damac Upper Crest, The Movenpick Downtown and Damac Maison Dubai Mall Street.
The developer commenced soft sales for RP Heights in late 2015 and as of March 2016, units are still available for sale. The developer is offering a 50:50 payment-plan (50% payable during the construction phase and 50% payable on handover).
March 2016: Read our Special Report on the Downtown Dubai Off-Plan Market Q1 2016
Who is the developer and what is their track record?
RP Global is a subsidiary of the RP Group of Companies. According to profiles of the company, the group has executed over 130 projects for clients, including Saudi Aramco and its affiliates, Sabic and its affiliates, Qatar Gas, Ras Gas, Adnoc, Abu Dhabi Oil Refining company, Sipchem, Shell, Exxon Mobil, Total Refinery, Dow Chemicals, Qatar Petroleum, Oryx GTL, Dolphin Energy and Kuwait National Petroleum.
RP Heights will be among the developer's first forays into luxury property development. The RP Group is Chaired by Ravi Pillai, considered to be among India's most wealthy and successful businessman. RP Global is headed by Robert Booth, an ex-CEO of Emaar Properties.
What is the payment-plan?
5% 2 months after booking
10% when the project is 10% completed (as per RERA inspection)
5% when the project is 20% completed
5% when the project is 30% completed
5% when the project is 40% completed
5% when the project is 50% completed
5% when the project is 60% completed
5% when the project is 80% completed
50% is payable on handover
When is the project handover?
Officially the developer stands by a completion date of Q1 2018. However, as some delays are common, completion should take place sometime in mid or late 2018.
Project Completion Status (as per DLD): 35.14% (as of 09 June 2018)
Dubai Land Classification & Escrow Account Details:
Land Number: 290
Project Number: 1605
Real Estate Developer: RP GLOBAL DEVELOPERS
Trust Account Number: 0204963828803
Account Trustee Name: EMIRATES NBD BANK
RERA Permit No : 15128
Brokerage Firm: Taktical Realty Group LLC