Ras Al Khaimah - News/Info

[anil]

A new thread for general news or infomation that may be useful to RAK investors.

To kick things off...

Escrow accounts are law.

Ras Al Khaimah strengthens property market - Middle East News

 

[anil]

Prices to double in 2 years?

Ras Al Khaimah property prices will double in two years - Middle East News

 

[InfoGuru]

Ras Al Khaimah seems to be hyphed a bit too much. This area is great if you want cheap property for your own use as the area is really nice.
However I don't think it is good for long term investment. The problem is that it is too far away from Dubai to be of a commuting distance. Most of the demand is in Dubai and in the areas surrounding Dubai. Thus the rental demand will be very low.
Everyone buying in this area seems to be an investor - not an end user who wants to live there. The realistic forecast is around 18% to 20% growth per year.

 

[Crofty2000]

Info Guru
Where do you get the figure of 18% to 20% growth? I do agree that is 2 hours away from Dubai and not 40 minutes as they claim in the brochures but this is a nice area to have property, especially if you are going to use it yourself. The prices are half that of Dubai and whilst it may not be as attractive for investment as Ajman, it should be ok and better than Dubai.

 

[anil]

I think the same doubts were being expressed for the early days in Dubai's developement. There is always a higher risk associated with early investment.

Other factors to consider:-
- the rail link across the Emirates
- RAK's own growth and business that will draw people to live and work there

 

[anil]

tourism

Gulfnews: RAK tourist arrivals surge 28% to 215,000 last year

 

[anil]

Shah Rukh Khan forays into real estate

Shah Rukh Khan forays into real estate
Dubai (PTI): Bollywood heartthrob Shah Rukh Khan is developing a cluster of signature buildings on Al Dana Island in Ras Al Khaimah, one of the UAE's seven emirates, a media report said on Thursday.

The project in association with the TSA International Investments is called Shah Rukh Khan Boulevard. According to the Arabian Business Magazine the actor will be in Dubai from October 6 to 9 to announce the project at real estate expo Cityscape Dubai.

Shah Rukh has reportedly been keenly involved in the conceptualisation of the project that has been designed by celebrity architect Tony Ashai.

Buyers have been invited to offer refundable 'expression of interest' cheques for the proposed studio, one and two bedroom apartments, but sales will begin only after the official launch by Khan on October 20.

 

[fbx258]

Anil, i am thinking of investing in the pacific in Al Marjan Island for about 1100 per sqt ft.
I have read nothing but excellent reviews on Al Marjan Island and its potetional growth over the next 12- 24 mnths.

Do you think this is a good investment ? or should i wait for more construction to start happen there ?

Brgds

Willams

 

[anil]

Anil, i am thinking of investing in the pacific in Al Marjan Island for about 1100 per sqt ft.
I have read nothing but excellent reviews on Al Marjan Island and its potetional growth over the next 12- 24 mnths.

Do you think this is a good investment ? or should i wait for more construction to start happen there ?

Brgds

Willams

Hi,

It would be difficult for me to give you a balanced view as I have already invested in the Pacific development.

The way I see it: if you buy into the RAK story and if you can accept that the same will happen in RAK that happened in Dubai, then it is just a matter of choosing a project that you like. If you dont believe in it, then keep your money in the bank.

Please be aware of exaggerated forecasts from agents, it is their job to sell and this is an unregulated market.

Good Luck!

 

[rudeboy]

Anil, i am thinking of investing in the pacific in Al Marjan Island for about 1100 per sqt ft.
I have read nothing but excellent reviews on Al Marjan Island and its potetional growth over the next 12- 24 mnths.

Do you think this is a good investment ? or should i wait for more construction to start happen there ?

Brgds

Willams

wow 1100 thats cheap i paid 1333 but that was 2 months ago is that re-sale or from the developer??

 

[fbx258]

no from select properties and to be exact it is around 1063psqft.


thanks guys


willams

 

[rudeboy]

no from select properties and to be exact it is around 1063psqft.


thanks guys


willams

is it a studio or one bedroom appartment? and which floor is it on?

 

[fbx258]

19 / second floor...

 

[Sajid]

Hi complements to all!


i think so william the chance is good you should avail but be sure make the market research before taking further steps!

 

[anil]

Hi IMRANGHANI,

Out of general interest, how are sales in RAK at the moment?

Have you seen a slow down in interest recently or a drop in prices?

 

[rudeboy]

does anyone know of a real estate agent in RAK or in Dubai who can help me get rid of my studio in the Pacfic on marjan island?

if so contact me on [email protected]

 

[kamadenu]

hi anil

Regarding to the sales in rak i mainly deal with marjan island at the moment for me sales is still the same as it was starting of this year for me anyway, the reson i say that is because my previous projcts were sold very quickly and am just doing another project on marjan island called harbour beach residence which i have sold allot already.

i have full 4th floor which iv just released, rak has got allot of potentail attracting allot investors

but the current globel market is on a low so people will be more cautious which is understandable

hi what are the chances of me selling a 3 bedroom apartment sea view in al marjan - bab al bahr-rakeen development at no premium at all. i bought it at about 1.77m for 1800+800 sq ft terrace.

 

[rudeboy]

isnt the bab al bahr already completed?

 

[kamadenu]

isnt the bab al bahr already completed?

the construction in full swing, they have show homes in the site. completion first quarter
2010 latest.

 

[East end barrow boy]

various notes re Al Hamra and RAK

The Alhamra development can be 40 mins from Dubai airport.

It can also be 2 hours. The new 611 highway almost guarantees 1 hour to airport any time of day or night.

Al Hamra prices went up perhpaps 80-100% last year, but this year resale had fallen thru the roof, from 1.8 or evn 2.6 (3 bed town house with maids room plus view),to a newly completed 3 bed with viw fire sale at 1.1 aeds.

RAKIA is not there to protect investors, or occupiers, they are only there to make money, for the shareholders. Dr Massad, would prefer to break your legs than offer an invester a safety net.

I was in RAK, UAE for some time, and would never wish to be associated with him or the operation any more.

the lost Kray triplet.