Hi there, I'm new to this board and would love some advice please!
Has anyone heard of Ras al Khaimah near Dubai? I've done some research into this area and I reckon it may be a great place to invest as it's just taking off. Although it's already a resort destination they are beginning to build apartments and townhouses in the marina area and I know there will be an exhibition soon in london selling them off plan for the first time. Because there's not loads of info on RAK I don't know how good an investment it will be ... or is it just hype??
So far, I've got a two bed apart on the palm and 4 bed in marina diamond in dubai - been very lucky with these and bought at the right time. i've also just come back from a viewing trip from Saidia in morocco and decided to buy a FDJ townhouse. I looked at this forum and others to help me with my morocco purchase and found them useful so thankyou! ... but there's nothing on RAK except a few mentions ... I'm worried that my 'beginners luck' might run out because it really has been luck so far! thanks for your help
Originally posted by softof: Hi there, I'm new to this board and would love some advice please!
Has anyone heard of Ras al Khaimah near Dubai? I've done some research into this area and I reckon it may be a great place to invest as it's just taking off. Although it's already a resort destination they are beginning to build apartments and townhouses in the marina area and I know there will be an exhibition soon in london selling them off plan for the first time. Because there's not loads of info on RAK I don't know how good an investment it will be ... or is it just hype??
So far, I've got a two bed apart on the palm and 4 bed in marina diamond in dubai - been very lucky with these and bought at the right time. i've also just come back from a viewing trip from Saidia in morocco and decided to buy a FDJ townhouse. I looked at this forum and others to help me with my morocco purchase and found them useful so thankyou! ... but there's nothing on RAK except a few mentions ... I'm worried that my 'beginners luck' might run out because it really has been luck so far! thanks for your help
Soft my only reservation would be not to put too many eggs in the Islamic basket, you never know. Saudi state school text books were shown on Newsnight and had some pretty ugly text in them. Had these been written by some crank fringe organisation I wouldnt be bothered, but the state.........
Hopefuly Im over reacting?
Anyway apart from Morocco Ive invested in Germany - nice and safe, very very cheap and year round rent. There property cycle is about where ours was in 1993, and we all know what happened after that.... Ive bought property in Berlin and also shares in UK companies that are set up with the sole purpose of investing in German property. The best I think is treveri.com. The shares have increasedfrom 1.14 e to 1.46 euros since July and they have paid a dividend already. The company is 85% geared so buying these shares is a bit like putting 15% down on a property (ie you get growth on the full asset value).
Originally posted by softof: Hi there, I'm new to this board and would love some advice please!
Has anyone heard of Ras al Khaimah near Dubai? I've done some research into this area and I reckon it may be a great place to invest as it's just taking off. Although it's already a resort destination they are beginning to build apartments and townhouses in the marina area and I know there will be an exhibition soon in london selling them off plan for the first time. Because there's not loads of info on RAK I don't know how good an investment it will be ... or is it just hype??
So far, I've got a two bed apart on the palm and 4 bed in marina diamond in dubai - been very lucky with these and bought at the right time. i've also just come back from a viewing trip from Saidia in morocco and decided to buy a FDJ townhouse. I looked at this forum and others to help me with my morocco purchase and found them useful so thankyou! ... but there's nothing on RAK except a few mentions ... I'm worried that my 'beginners luck' might run out because it really has been luck so far! thanks for your help
Soft my only reservation would be not to put too many eggs in the Islamic basket, you never know. Saudi state school text books were shown on Newsnight and had some pretty ugly text in them. Had these been written by some crank fringe organisation I wouldnt be bothered, but the state.........
Hopefuly Im over reacting?
Anyway apart from Morocco Ive invested in Germany - nice and safe, very very cheap and year round rent. There property cycle is about where ours was in 1993, and we all know what happened after that.... Ive bought property in Berlin and also shares in UK companies that are set up with the sole purpose of investing in German property. The best I think is treveri.com. The shares have increasedfrom 1.14 e to 1.46 euros since July and they have paid a dividend already. The company is 85% geared so buying these shares is a bit like putting 15% down on a property (ie you get growth on the full asset value).
This dumb system doesnt let me edit, I meant to type the property company as TREVERIA.COM
Re. your point about investing in islamic states, ironic that you mention this as I've done quite a lot of research on the education system and customs in RAK. My husband is a headteacher and I'm also a teacher and our aim (eventually!) is to move abroad, quite likely to one of the places we've invested in. So naturally, we have looked into education system, communicated with expats already established there and looked at 'mindset' of local people and can safely say that it is not dissimilar to Dubai.
Going back to RAK education, international schools have quite a presence and the IB is the preferred system.
I feel that Dubai has a hell of a lot going for it, including great education establishments, the standard of living, little or no crime etc but we just find it a bit too hectic (and glamorous!) for us. With this in mind and the fact that we wanted to live somewhere a little more compact, we started looking at RAK. Of course because we also want to make a good investment, we're looking at the Mina al Arab apartments on the marina which are about to be released and prices far cheaper than what you can get in Dubai now ... and Dubai will only be a 35 minute drive away.
If I had a bit more cash to spare, I may have got another place in Saidia (something like the AP5's) but the Mina al Arab apartments have a really good payment structure and (only 5% on booking, 10% after six months - or something similar to that) so I don't feel like I'm stretching myself.
Thanks for the website address, will look into it. Don't know much about that market but will have a nosey as sounds interesting
If I had a bit more cash to spare, I may have got another place in Saidia (something like the AP5's) but the Mina al Arab apartments have a really good payment structure and (only 5% on booking, 10% after six months - or something similar to that) so I don't feel like I'm stretching myself.
Thanks for the website address, will look into it. Don't know much about that market but will have a nosey as sounds interesting
How much are the apartments at MIna Al Arab? I did some research about 6 months ago but I could not find anything.
I think that the resort Mina al Arab looks very nice.
I know that Orascom ,who have a proven track record in Egypt (El Gouna & Taba Heights) and Jordan ,are developing the cove resort in RAK . I own in El Gouna and couldn't be happier.
How much are the apartments at MIna Al Arab? I did some research about 6 months ago but I could not find anything.
I think that the resort Mina al Arab looks very nice.[/QUOTE]
There's a mention that 1 bed marina view apartments are starting at £60/70,000 - seemed a bit steep at first but they're prime location /view and also much cheaper than Dubai. All I've managed to find out so far through contacting RAKproperties based in the UAE is that a company called Dubai Property Link in London (no relative of International Property Link, I;m assured!) is dealing exclusively with their Mina Al Arab sales. When I contacted Dubai Property Link they confirmed that they are working for RAKproperties but have not had final confirmation of prices but there will be info coming very soon on their website and they've got an exhibition at the Hilton Metropole, Edgware Road on 24/25 Feb where people can book but they haven't gone 'live' yet because they're waiting on the prices ...
I'm basically calling them everyday to get more info! Hope this helps. As I said, it's something I'm looking into at the mo but just finding it difficult to get more info - I'm hopefully people using this forum can give a little insight before I take 'the plunge!'
Originally posted by softof: How much are the apartments at MIna Al Arab? I did some research about 6 months ago but I could not find anything.
I think that the resort Mina al Arab looks very nice.
There's a mention that 1 bed marina view apartments are starting at £60/70,000 - seemed a bit steep at first but they're prime location /view and also much cheaper than Dubai. All I've managed to find out so far through contacting RAKproperties based in the UAE is that a company called Dubai Property Link in London (no relative of International Property Link, I;m assured!) is dealing exclusively with their Mina Al Arab sales. When I contacted Dubai Property Link they confirmed that they are working for RAKproperties but have not had final confirmation of prices but there will be info coming very soon on their website and they've got an exhibition at the Hilton Metropole, Edgware Road on 24/25 Feb where people can book but they haven't gone 'live' yet because they're waiting on the prices ...
I'm basically calling them everyday to get more info! Hope this helps. As I said, it's something I'm looking into at the mo but just finding it difficult to get more info - I'm hopefully people using this forum can give a little insight before I take 'the plunge!'[/QUOTE]
I know that the infrastructure in RAK is not good yet but it will definitely change. I read that RAK is much nicer looking than Dubai and has more interesting nature.
If you know Dubai, it should be difficult to imagine how RAK looks like.
Nevertheless, I think Abu Dhabi might be a better deal as they will have better business there (banking, companies, etc). RAK will be a place for sunworshipers but a very nice one.
Originally posted by Crombiestone: I know that Orascom ,who have a proven track record in Egypt (El Gouna & Taba Heights) and Jordan ,are developing the cove resort in RAK . I own in El Gouna and couldn't be happier.
If you are in contact with Orascom, do you know when they plan to start selling at their Berenice resort? They are very slow in answering.
Ras Al Khaimah is a superb placed toenter into, if you are an investor definately maximise your ROI by getting into the short term leasing market. Expect return of 12-15% (Rental) from short trem leaseing, places like AL Hamra are the ideal location, 200mtr from the beach, private & established area along with an incredible shortage of accommodation for tourists. in 2005 HSBC released identified that there were 125,000 visitors to Ras Al Khaimah whilts only around 1500 hotel beds were available. So for around £57,000 you can pick up a nice sea view studio which with the right property management company should give you a tidy return.
I'm actually selling units in that location so i am quite confident in that emirate.
Sorry . I have no idea about when or if they will start selling Ras Bernice . There is very little information at the moment .
I think they wait and test for potential demand before they commit to building .I know that they originally owned the plot for the Marina at Sahl Hasheesh and were marketing this as Venice Marina . This project never materialised and a different developer now has this land under the name Serrenia . It does seem strange that they pulled this project,especially as they dont go out of their way to market and raise the profile of their developments and prefer to be the sole selling agents on their projects.
Originally posted by karachi prince: Ras Al Khaimah is a superb placed toenter into, if you are an investor definately maximise your ROI by getting into the short term leasing market. Expect return of 12-15% (Rental) from short trem leaseing, places like AL Hamra are the ideal location, 200mtr from the beach, private & established area along with an incredible shortage of accommodation for tourists. in 2005 HSBC released identified that there were 125,000 visitors to Ras Al Khaimah whilts only around 1500 hotel beds were available. So for around £57,000 you can pick up a nice sea view studio which with the right property management company should give you a tidy return.
I'm actually selling units in that location so i am quite confident in that emirate.
Are Mina Al Arab and Al Hamra next to each other?
How far will Mina al Arab be from the future Jebel Jais Mountain Resort?
Originally posted by reader07: How far will Mina al Arab be from the future Jebel Jais Mountain Resort?
I found the information about Jebel Jais Mountain Resort:
Resort completely covered with artificial snow Mountain Biking, Klettern, Falknerei, Paragliding Mountain Biking, Climbing, Falconry, Paragliding 40 km to the Al Hamra Fort Hotelskiing and swimming in the sea on the same day only ski resort in the Gulf region 2924 Zimmer/Wohnungen 2924 rooms/appartements
Plus: The Jebel Jais Mountain Resort is set to become the summer capital of the region. It will be built on one of the most majestic of Ras Al Khaimah's mountains. It will offer a landmark 5 star hotel and conference centre, a cable car linking the resort to sea level, luxurious residential units from apartments to small palaces, a snow slope, a climbing and abseiling center, paragliding facilities, a Falconry centre as well as a recording center.
Managed to get loads of info on RAK and have ended up booking 3 properties on the Mina al Arab resort. I was in Morocco last week so got back to the research as soon as I got back and ended up having to move really quickly: Through Dubai Property Link I have booked a one bed marina facing apartment with balcony (£90) and two studios (around £27 each) Payment structure is really favorable: 5% on booking, 10% after 6 months, 15% after six months, 15% after six months and then the final 55% upon completion. They are due to be complete end of 2008. The towers only have 3/4 floors each and face the marina/lagoon. Underneath is a pedestrianised zone with loads of shops/cafe culture
DPL are actually selling them 'officially' this weekend at the Hilton Metropole but they are accepting bookings beforehand. They've sold 30 out of 70 already. I also looked into what RAK properties were selling based in the UAE (they are selling tower 8, DPL are selling tower 3 and 4) RAK properties come in about AED 10 pricier per square foot - not a massive difference I know but they're not complete until 2010. They released their stock two days ago and have sold just over half, all of their studios have gone. Thanks to everyone that replied, as it helped me make my decision. The other important factor that helped me make my decision was that you can consume alcohol freely in RAK. It's not that I'm not a total boozer or anything (!) but when I thought about people going there for hols and looking at the rental potential side of things, I reckon it's quite important. I've heard loads of people complain about the price of alcohol in Dubai and I think that Abu Dhabi and Sharjah are completely 'dry' (please correct me if I'm wrong on this one)
Anyway folks, if anyone else is interested this seems like a pretty solid investment ... but please reply if you think otherwise as I am a novice and would appreciate your thoughts. If you do get in touch with DPL, i spoke to a guy called zahid and he was pretty efficient and had a lot of knowledge, don't know about the rest of the people that work there.
Websites I found really useful, incase anyone is interested: www.raktourism.net (loads of info on infrastructure, economy, lifestyle, current and future developments etc) www.minaalarab.net (the resort) www.rakproperties.net (the real estate agency based in rak) www.dubaipropertylink.com (london based agency that have got the exclusive from rak properties and mina al arab for towers 3 and 4)
Originally posted by softof: Managed to get loads of info on RAK and have ended up booking 3 properties on the Mina al Arab resort.
Good for you. I was interested in a studio, but all were gone in about 3-4 hours. They only have now 1 bedroom apts. starting at £52000. This is a good price for that location but it is a bit over my budget I would like to allocate to UAE...
Originally posted by softof: Managed to get loads of info on RAK and have ended up booking 3 properties on the Mina al Arab resort.
Good for you. I was interested in a studio, but all were gone in about 3-4 hours. They only have now 1 bedroom apts. starting at £52000. This is a good price for that location but it is a bit over my budget I would like to allocate to UAE...
Was that through DPL or Rak properties? When I spoke to somebody yesterday at rakprops. she said all the studios were gone in tower 8 but they had 5 left in a previous building they were selling - but i didn't ask if they were studios or apartments... just a long shot but might be worth a try ...
Originally posted by softof: Managed to get loads of info on RAK and have ended up booking 3 properties on the Mina al Arab resort.
Good for you. I was interested in a studio, but all were gone in about 3-4 hours. They only have now 1 bedroom apts. starting at £52000. This is a good price for that location but it is a bit over my budget I would like to allocate to UAE...
Was that through DPL or Rak properties? When I spoke to somebody yesterday at rakprops. she said all the studios were gone in tower 8 but they had 5 left in a previous building they were selling - but i didn't ask if they were studios or apartments... just a long shot but might be worth a try ...
RAK contacted me two days ago, I told them that I am interested in a studio and then silence for a day and then told me they have only water view apartments in building 8. Never told me that DPL are also selling, said that only building 8 is for sale for the moment.
It's OK, it is not the last project in RAK or in the world...
RAK contacted me two days ago, I told them that I am interested in a studio and then silence for a day and then told me they have only water view apartments in building 8. Never told me that DPL are also selling, said that only building 8 is for sale for the moment.
It's OK, it is not the last project in RAK or in the world... [/QUOTE] ________________________________________
LOL I know, I get a bit carried away sometimes. Think it's because since I had my baby and became a domestic goddess (ha ha!), this is my 'unoffical' job ... and so far I've managed to prove that I probably do still earn the same as him ... but just don't go out to work everyday!
Enjoy your baby AND the property investing! I'm a part-time teacher and certainly 'earn' a lot more with property than teaching. It's an addictive world!
We've just bought a 1 bed in tower 4 Mina Al Arab. The development looks really exciting and still at good prices. We're going out to look in the next couple of weeks, will let you know how we get on.
I know, I get a bit carried away sometimes. Think it's because since I had my baby and became a domestic goddess (ha ha!), this is my 'unoffical' job ... and so far I've managed to prove that I probably do still earn the same as him ... but just don't go out to work everyday!