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Marjan island in RAK

Discussion in 'UAE Property' started by mirpuri, Mar 19, 2008.

  1. mirpuri

    mirpuri New Member

    Hi All
    i want to invest on Marjan island RAK can you sugest which is best devalopment
    and is 1 bed better investment or 2 beds
    thanks
    Mirpuri
     
  2. smile99931

    smile99931 New Member

    Hi Mirpuri,
    What I can say to you that 2 beds better investment than 1 bed.

    smile99931
     
  3. Rammah

    Rammah Member

    I agree. I think that studios or 2 beds are much better options than 1 beds.

    The way I look at it is:
    Who is most likely to live in the apartment?

    Answer that Q, and then think of the best type of apartment. It's most likely going to be studio or 2 bed. Right?
     
  4. mirpuri

    mirpuri New Member

    Thank you for sound advise
    i want to buy a property on devalopment call Pacific on marjan island RAK
    any body heard about this and have any advice before i book this !
    it is marketed by select property
    thanks Mirpuri
     
  5. dubai_nomad

    dubai_nomad New Member

    Does anyone have any recent pictures of Al Marjan Island?
     
  6. mazi

    mazi New Member

    Pacific is my favourite on the island at the moment - I have invested there too

    I might be able to get you a discount as I have investments there and they will offer me (or whoever I refer to them) about 2% discount

    PM me if interested
     
  7. mirpuri

    mirpuri New Member

    Pacific

    Mazi
    sorry mate i did not see your post in time i already invested in 2 bed it would have been good if i went through you , there will be next time

    i am looking studio or one bed in Al Hamra Village RAK royal breeze or Marina apartment, any help will be appreciated
    thanks
    Mirpuri
     
  8. theammer

    theammer New Member

    SP Pacific in RAK

    Mazi,

    Are you still able to get a discount as I may invest in this development.

    How are the potential resale values looking for a 2 bed at this development since you or any other forum member purchased?

    I am very impressed with Select Properties so far.

    Thank you in advance :)
     
  9. fbx258

    fbx258 New Member

    greetings,

    I am ineterested in also buying at 2 bed room with sea view in the bora bora tower on the Pacific developement. Price is around 1100sqft or so.

    I have not invested in RAK before, and from what i am reading the prices are due to double by the end of next yr.

    Do you investors think the price is good 1100aed per sq ft ?

    also is the hype about this place true ?

    Your thoughts are greatly appreciated

    Williams
     
  10. General Trading

    General Trading New Member

    hi, this is my first post here (as my post count will no doubt indicate!) and i found the site because i typed 'i want to buy on marjan island' into google - i have had a bit of bother and need to sell my Pacific one bed very quickly.

    i know i cant talk about that yet, the rules say so, but i can talk to fbx258 and say yes my friend, its true.

    there are a whole bunch of appartments for sale in Ajman and Sharjah either side of emirates road. some of the studio's start at as little as AED200k - quite reasonable. what you need to bear in mind is that every one of these appartments has been brought by a speculator on the property market hoping to cash in as they think ajman is going to offer the same returns as dubai did 3 years ago. it isnt.

    there are 300+ towers being developed either side of emirates rd in ajman and sharjah - that means thousands of units available at cheap prices (with no construction guarantees i might add). what is available on this site are merely the first wave of appartments to come on the secondary market, the easy payment plans meant they went fast. if you buy one of these and attempt to re sell in, say, 6 months - you're going to be competeing with thousands of other people for a buyer. if you want one to live in then more power to you.

    Pacific is the CNBC 2008 MENA property development of the year. remember what happened to off-plan developments on the palm - off plan AED4.2m, once constructed AED20m+.

    i work in business media and talk to a LOT of people far more intelligent than me every working day - marjan island is an excellent opportunity, i wish i could keep my place (give me a few more posts and you might see it advertised here :)
     
  11. rudeboy

    rudeboy New Member

    i agree with you GT i too have invested on marjan island and will definitely keep on investing in marjan island cos i missed out on palm jumeriah which now is an AWSOME place to live in. marjan island will be the same hopefully. so what if its 1 hour away from Dubai. ppl are commuting every day from al ain, abu dhabi, shj, ajman, uaq, fuj and rak to dubai. its like commuting from Oxford to London. ok they have the metro there but hopefully when UAE has its own metro up and running what more do you want?

    ajman again i want to invest because the prices are cheap and I have been offered 500 dhs per sq ft for a appartment which has started its construction.
    but what you have said about ajman is correct. there are millions of appartments there and its going to be a bit hard selling them in the re-sale market. I guess ajman is in the same boat as dubai was 3 to 5 years ago. so its going to take time for ajman market to mature and investing there is LONG term i.e holding up to 3 to 4 years when everything has been constructed.

    2 years ago prices in ajman were 295dh per sq ft today the prices are 500dhs. it is a good investment but a LONG one.
     
  12. theammer

    theammer New Member

    Rak

    Dear Rudeboy,

    Many thx for your replies to my original thread and I am just about to reserve a 2 bed at Pacific to which you have given me some good assurances.

    If you e-mail me your name I am quite prepared to give your details to SP in the hope you may get a recommenders commision. :)

    Bruce
     
  13. Nassir

    Nassir New Member

    Bab al Bahar Project on Marjan Island.

    is this a good investment? who should go to for best deal for studio apartment/
     
  14. rudeboy

    rudeboy New Member

    nasir i think the studios have run out you could pick up them from the re-sale market but you will have to pay premium. if you can afford it go for the one bedroom.
     
  15. theammer

    theammer New Member

    Rak

    There are also some 2 beds left as well.

    I am thinking o buying a 2 bed following advice offered on this forum.
     
  16. fbx258

    fbx258 New Member

    also if someone pls advise the prodecure of a purchase off the plan?

    i buy the property, pay as per payment plan into a escrow account.
    Do they obviously send me a contract ? do i have to register the property with anyone in rak
    also when i sell does the buyer just pay me everything i have paid over the course of time ?
    and then he will continue the payments ???
    and one last question, do i need a bank account in the uae ? i am from australia i presume i can use my account here ?

    many many thanks

    willams
     
  17. General Trading

    General Trading New Member

    payment plans are over 15 years with developer interest of a couple of % a year - on my 780,000 it comes to 1.1m (maths isnt my strong point). the buyer will take over remaining payments and give you everything not outstanding, it just requires a signature on the contract. you dont need a UAE account and you dont need a visa. yes, you get contracts. you dont have to register anything as yet as the appt isnt built - dubai has changed that law and RAK may follow suit.

    you pay 30% in the first 6 months with two payments and the balance every quarter.

    dubai has an institution called RERA that regulates everything and they are talking to other emirates at the moment to help them with regulation. fortunately RAK isnt a gorilla market in the same way ajman or abu dhabi are but expect more changes soon.

    happy to sell you my one bed right now for a very modest premium :)

    (sorry board staff but i really do need to shift it, i've been screwed by some medical bills - in fact, if any of you want it let me know ;)

    mate, whether you buy mine or not - if you are serious about doubling your money i'd buy pacific (i DID buy Pacific)
     
  18. rudeboy

    rudeboy New Member

    is that 780,000 dhs for a studio or a one bedroom? also as per SP if someone buys of you they can change the payment plan if they want to. so for example if i have gone for the 15 year plan and i decide to sell tommorow, the new buyer can either continue with the 15 year plan or they can go for the shorter plan but he will have to pay 1% processing fee for changing the plans.

    you will get your contract quick. i got mine after i paid the booking fee and the 1st installment. so far been really happy with SP. they have sent me the contract and the reciepts on time. i dont know about overseas but since i live in UAE i have found them very professional. Even better then Emaar. I have signed my contract for my EMaar property and they promised to send it to me last week. a week has gone by and no reply.
     
  19. General Trading

    General Trading New Member

    its a one bed

    (and re emaar - thats probably one of the reasons thier stock is about 10aed undervalued!)
     
  20. rooney

    rooney New Member

    send me the details ,which building, what floor , what size, and most important ,what premium your looking for, mail me haroon six three two aol dot com[/email]
     
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