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RAK - La Hoya Bay vs. Blu Mirage

Discussion in 'UAE Property' started by muqarabin, Mar 12, 2008.

  1. muqarabin

    muqarabin New Member

    I am about to stretch myself to the limit and put my money out there. But just like to hear views from fellow forumites who have been involved in the separate thread on La Hoya Bay and Blu Mirage, (new forumites welcomed as well).

    I know some waterbreaker concerns were voiced on Blu Mirage a while back, dont know if they were substantial or just unfounded.

    If you had the money, where would you put it in RAK La Hoya Bay or Blu Mirage and why? cause I am torn
     
  2. dubailover

    dubailover New Member


    Go joint with a close friend and put it in both !!!

    regards
     
  3. jags

    jags New Member

    blu mirage vs la hoya bay residence

    i visited blu mirage exhibition in london. everything sounds too good.has anyone thought of resalability?your return of 12% is on the listed original price.why some body would buy from you at a premium.his return will be reduced.and next in line will not give premium at all.the whole idia of leasing back with guaranted return is too good to be true.future return depends how well the company is operating.how the expenses are calculated which will take away the big chunk of the profit.i would go for la hoya bay residence.but be prepared that secondary market is not tried and tested like dubai
     
  4. swanski

    swanski New Member

    Hi all !
    Do anybody know current price in blu mirage, 1-2 towers?
    I want to buy 1 bed apart, on 4-7 floors.
     
  5. ibiricu

    ibiricu New Member

    hi all

    I went ot the london exposition of blu mirage. It seems all fine on the paper. But they were only selling properties in tower 3&4.

    They explained me that tower 5 will not be built. It seemed a bit extrange to me that there was not a clearer explanation about tower 5.

    Does any one got a clear idea on this development as an ivestment oportunity?

    Regards
     
  6. benho

    benho New Member

    Is it too late to Invest in RAK now? Is there any new development and launching properties?
     
  7. iloverak

    iloverak New Member

    I bought a studio in Blu Mirage (building 3). It was the cheapest one (£51K) and am happy so far. Buildings 5 & 6 are not for sale. They are going to be an hotel. Buildings 1 & 2 are residential studios and flats and 3 & 4 are serviced studios and flats. I have no worries (so far) about the project. Been paying my monies and cannot wait for it to be ready and making cash. As for its viability, well, were Lehman Bros or Merrill Lynch bad investment banks? No! They were very good! Somehow things went bad for them. But look how many other banks are still working as if nothing had happened. That's because they had all the safety measures in place. The assurances I was given in relation to Blu Mirage (Escrow Account, etc) made me very confident as far as the project is concerned. Now, lets keep our fingers crossed.
     
  8. rudeboy

    rudeboy New Member

    hi there could you please let me know where you purchased it for 51K? was it from a developer or from the re-sale market or a real estate agent. i might be interested and i hope you point me in the right direction.

    thanks
     
  9. iloverak

    iloverak New Member

    I went to an exhibition by a company called Properties Dubai (they have a website with all their developments in the UAE) in February at the Hilton Hotel, in Edgware Road, London, UK. I liked what I was offered and did not buy bigger or more studios only because I had no more money. Saw with my own eyes a guy buying 25 flats and studios in one go!!! There were very few 51K studios left when I bought mine in Feb. and I do not believe they would have any in Sept.
     
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