Ras Al-Khaimah - Pacific

[dubai_nomad]

The Mosque is being moved? Is there any official news of this?

Hi Anil - this is what I was told by Select Properties agent. Maybe take that comment with a pinch of salt!

Does any one have any upto date pics of island 4 ?

 

[dubai_nomad]

There are a few investors on Skyscrapercity that are considering contacting SP regards to the 2 year clause SP have in the contract for delivery of the development.

In the nature of this forum, all investors should collectively compile an email or nominate a representative to contact SP regards to the 2 year sunshine clause. If there are enough investors who shout they could reduce this time considerably.
I have not seen the contract as its in the post but I dont like having the possibility of waiting 2 years for an apartment while I am loosing rental income or intrest on my money.

What do others think?

 

[mazi]

Has anybody got their countersigned contracts yet?

 

[anil]

Has anybody got their countersigned contracts yet?

Yes, I got mine some time ago.
Also got access to the online account.

Have you not got yours yet?

 

[mazi]

No, I signed and sent mine with the first instalment few weeks ago - haven't got the countersigned yet though. I will contact the contract dep

 

[mirpuri]

Has anybody got their countersigned contracts yet?

I got mine with in 7days after paying 1st isntallment

maybe i have good account manager Metthew Wilkins
i recomend him to all my contacts this is my 2nd property with SP
i enjoy investing with SP and feel safe

Mirpuri

 

[dxbobserver]

Any signs of construction starting soon? I was told it was starting in June???

 

[milktrayman]

Any signs of construction starting soon? I was told it was starting in June???

More importantly has that part of the island fully completed?

I see La Hoya Bay kicking off with even a Show apartment, anyway I have been told that Select will launch another project on the same island

 

[OMAR.WAZIR]

Select: Stretching the truth

I bought one studio with select samoa (2nd floor) I was lied to about the fact that the island upon which pacific is on was already built. The 18 months "flexi" time they have for delivering the project late is concerning and I have been told by another developer whom I have now bought off that Select have never delivered a project on time. I do not know how accurate this statement is however!

I believe the studios will still make money but with the longer completion the return on invesment is not as good as other projects from which you will get a return end of 2009. Although they also sell the deal on resales when the investor chooses to do so after the 1st installment they have ditched resales at the current moment to focus on selling their own properties.

Much better deals on the market. see below.

If anyone is interested in the deal below send me a pm, add below.

Oyster Residence:La Hoya Bay 4th floor: Sale 1150/sqft

I have seen various quotes of 1500 / 1350 / 1420 / 1200 for current prices on La Hoya Bay by various companies. Some developers are charging higher dirham’s per square foot for good views.

Have only around 5 properties (left) on Oyster residence, La Hoya Bay on the 4th Floor all with sea views. We are selling at 1150 dirham’s per square foot and as you can imagine they are going fast!.

Properties are 4 x studios and 1 x bedroom. Studios are roughly 570 sq ft. 1 bed is 1557 sq ft.

Payment plan 30 % by September 2008 (possible flexibility) and remaining 70% on completion. 3 years guaranteed 8% rental income.

Price increase due around July, cannot guarantee how much this is but by the end of the year we expect these properties to be trading around 1600 dirham’s / sq ft.

Anyone interested let me know ASAP. Mail direct to omarwazir @ hotmail . com to discuss.

Kind regards,

Omar

 

[milktrayman]

I bought one studio with select samoa (2nd floor) I was lied to about the fact that the island upon which pacific is on was already built. The 18 months "flexi" time they have for delivering the project late is concerning and I have been told by another developer whom I have now bought off that Select have never delivered a project on time. I do not know how accurate this statement is however!

I believe the studios will still make money but with the longer completion the return on invesment is not as good as other projects from which you will get a return end of 2009. Although they also sell the deal on resales when the investor chooses to do so after the 1st installment they have ditched resales at the current moment to focus on selling their own properties.

Much better deals on the market. see below.

If anyone is interested in the deal below send me a pm, add below.

Oyster Residence:La Hoya Bay 4th floor: Sale 1150/sqft

I have seen various quotes of 1500 / 1350 / 1420 / 1200 for current prices on La Hoya Bay by various companies. Some developers are charging higher dirham’s per square foot for good views.

Have only around 5 properties (left) on Oyster residence, La Hoya Bay on the 4th Floor all with sea views. We are selling at 1150 dirham’s per square foot and as you can imagine they are going fast!.

Properties are 4 x studios and 1 x bedroom. Studios are roughly 570 sq ft. 1 bed is 1557 sq ft.

Payment plan 30 % by September 2008 (possible flexibility) and remaining 70% on completion. 3 years guaranteed 8% rental income.

Price increase due around July, cannot guarantee how much this is but by the end of the year we expect these properties to be trading around 1600 dirham’s / sq ft.

Anyone interested let me know ASAP. Mail direct to omarwazir @ hotmail . com to discuss.

Kind regards,

Omar

Thanks, for the sales pitch !

 

[VQT]

I bought one studio with select samoa (2nd floor) I was lied to about the fact that the island upon which pacific is on was already built. The 18 months "flexi" time they have for delivering the project late is concerning and I have been told by another developer whom I have now bought off that Select have never delivered a project on time. I do not know how accurate this statement is however!

I believe the studios will still make money but with the longer completion the return on invesment is not as good as other projects from which you will get a return end of 2009. Although they also sell the deal on resales when the investor chooses to do so after the 1st installment they have ditched resales at the current moment to focus on selling their own properties.

Much better deals on the market. see below.

If anyone is interested in the deal below send me a pm, add below.

Oyster Residence:La Hoya Bay 4th floor: Sale 1150/sqft

I have seen various quotes of 1500 / 1350 / 1420 / 1200 for current prices on La Hoya Bay by various companies. Some developers are charging higher dirham’s per square foot for good views.

Have only around 5 properties (left) on Oyster residence, La Hoya Bay on the 4th Floor all with sea views. We are selling at 1150 dirham’s per square foot and as you can imagine they are going fast!.

Properties are 4 x studios and 1 x bedroom. Studios are roughly 570 sq ft. 1 bed is 1557 sq ft.

Payment plan 30 % by September 2008 (possible flexibility) and remaining 70% on completion. 3 years guaranteed 8% rental income.

Price increase due around July, cannot guarantee how much this is but by the end of the year we expect these properties to be trading around 1600 dirham’s / sq ft.

Anyone interested let me know ASAP. Mail direct to omarwazir @ hotmail . com to discuss.

Kind regards,

Omar

So you're slagging off Select to sell your own properties. Interesting. I have just read an article in a local property magazine out in Dubai and there was a double spread on Select Group. I believe they are going places, with lots of projects coming up so it's a good time to be involved with them.

I am visiting RAK on July 1st and will try and get some pictures of the island to see what stage we are at.

 

[milktrayman]

Late completion

Ignoring the sales pitch above, I know some of you guys have purchased from Select previously. What are your thoughts on the late completion statement by Omar above?
Is this a valid statement?

 

[anil]

My experience is that they are all going to be late and you dont always get any kind of compensation with most developers. (Or am I just cynical?)

Anyway, at least, the larger, more reputable developers are more likley to complete the project at all.

 

[milktrayman]

New development announced on Al Marjan Island

Only a few days old annoucement


YouTube - emyproperty launches AED1.1bn Bab Al Badr


E-myproperty to develop $300m RAK project | Real Estate

 

[dubai_nomad]

Pacific - Scoops Best Development Award

 

[dubai_nomad]

So you're slagging off Select to sell your own properties. Interesting. I have just read an article in a local property magazine out in Dubai and there was a double spread on Select Group. I believe they are going places, with lots of projects coming up so it's a good time to be involved with them.

I am visiting RAK on July 1st and will try and get some pictures of the island to see what stage we are at.

VQT - if you are able to take any photos of the island especially where Pacifc will be. What type of view we will achieve from Polynesia block and from the beach.
Any visual aids will be much appreciated.

Thanks,

Nomad

 

[talk]

SP

Now I've found a thread with great interest to me."select property".

I've made a purchase from them in 2006,REF THE TORCH DUBAI MARINA.
As far as am aware the torch was select first development in dubai.All contracts changed hands pervectly,and I found all staff kept good working relations with clients,well me anyway.

This was my first investment in Dubai and to be honest I don't think I would invest with any other developer but select. I visited the site in FEB06 I know there is delays but not always their doing.Select have come a long way,in all developments in 2 years.Then the site was only fenced around and I reckon their finish app 6months behind.

I don't live in Dubai and I'am not a 24hr investor and have no connections with sp other than an investor.

By the way anyone interested in a 2b 16floor apt in the TORCH.

"Keep this great thread going"

 

[OMAR.WAZIR]

Select

Only a few days old annoucement


As I said you will make money on select ( I believe I will),only your return on your investment will not be as good. I feel I made a mistake here of sorts, although I will still make money there is the potential to make more. Not a big mistake, but in hindsight there was better offers.

How? You are paying 30% (long term plan) upfront with further payments which for the low end studio will be minimal £4000 a year untill the property is built, which is due for mid 2011.

Thats 30% investment + £12,000k before you see a return should you buy.

Would it not make more sense to pay 30% for a property, not pay anything else. The property is also finished a year and half / two earlier from which if you rent out that is approx £7-12k per year or whatever the rental income may be. You obviouslly make a better return on your money, simple maths.

As far as the resales go, you could call them yourself I think you will get a polite we have cancelled resales at the moment. This by the way was pushed to me when I inititally bought, as was the fact the island was built.

Point of interest, was anyone else told the island had already been built?

 

[dubai_nomad]

Only a few days old annoucement


As I said you will make money on select ( I believe I will),only your return on your investment will not be as good. I feel I made a mistake here of sorts, although I will still make money there is the potential to make more. Not a big mistake, but in hindsight there was better offers.

How? You are paying 30% (long term plan) upfront with further payments which for the low end studio will be minimal £4000 a year untill the property is built, which is due for mid 2011.

Thats 30% investment + £12,000k before you see a return should you buy.

Would it not make more sense to pay 30% for a property, not pay anything else. The property is also finished a year and half / two earlier from which if you rent out that is approx £7-12k per year or whatever the rental income may be. You obviouslly make a better return on your money, simple maths.

As far as the resales go, you could call them yourself I think you will get a polite we have cancelled resales at the moment. This by the way was pushed to me when I inititally bought, as was the fact the island was built.

Point of interest, was anyone else told the island had already been built?

Omar - unless you have something useful to add to the Pacific development I suggest you leave your sales pitches for other developments for else where. We are all quite aware of what we are getting ourselves into and how much our investment will yield. The fact that Pacifc has won the Best Development Award is enough factor for me to be more than comfortable with my investment. Also I have full view of the gulf sea with balcony and car park space. No other development currently on the island is offrering this to me. Select customer service is excellent. To answer your question we have been informed that iswland 4 has been completed. This has also been confirmed by other developers on island 4.

If anyone does have any picture please let can you share them!

 

[OMAR.WAZIR]

Re Dubai Nomad

With all respect I am entitled to my thoughts.

As of about 1/2 months ago I was infomed the island was not built.

Can someone please show me a pic of the completed island?

Many thanks

P.s anyone know how well the sales are going at Select?

( I trust and hope I am not offending you with that question)