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East end barrow boy
New Member
RAK property show
will be held in the RAK exhibition centre. 20th to 22nd May 2009.
all welcome.
kray 3
will be held in the RAK exhibition centre. 20th to 22nd May 2009.
all welcome.
kray 3
D
dmr
New Member
I have a question about property law for the UAE. I purchased a flat in RAK three years ago. Per the contract the hand over date was March 2007. It is just now close to being completed. Now I don't want it. I requested my money back from the developer. They threatened me that they will keep my deposit money (45%) and terminate my contract if I don't pay the balance within 30 days.
They didn't complete the property on time. In my contract it stated if the property was not finished by March 2007 then I was entitled to a full refund. They are going back on that now and retracting that offer. They say because of the lack of power in the area. Well, that was not in the contract. It isn't my fault there wasn't enough power. They should have advised buyers of that before accepting payments.
So is there a UAE government agency to deal with this? I'm afraid that the local government will not help because they own the land, the development company and the real estate company.
The other problem is the developer is deciding when the property is finished. It's not even close. It still looks like a full blown construction site. I say finished is when there isn't any more construction on the building or the grounds.
I need some official law from the UAE government or to talk to an attorney that can give me some advice.
Can anyone offer information?
Thanks
They didn't complete the property on time. In my contract it stated if the property was not finished by March 2007 then I was entitled to a full refund. They are going back on that now and retracting that offer. They say because of the lack of power in the area. Well, that was not in the contract. It isn't my fault there wasn't enough power. They should have advised buyers of that before accepting payments.
So is there a UAE government agency to deal with this? I'm afraid that the local government will not help because they own the land, the development company and the real estate company.
The other problem is the developer is deciding when the property is finished. It's not even close. It still looks like a full blown construction site. I say finished is when there isn't any more construction on the building or the grounds.
I need some official law from the UAE government or to talk to an attorney that can give me some advice.
Can anyone offer information?
Thanks
F
financier888
New Member
Force Majure
You need to decide - are you prepared to walk away from your 45%? or proceed and have some chance of recovery in the future? especially as it is almost completed and ready for handover - you are actually luckier than most that are still sitting with piles of sand and no help in sight..
good luck
Even though your contract stated that if they didn't complete on time you could get a full refund, the 'no-electric' - thus the delay in handover, may come under the 'Force Majure' provision in your contract - 'Act of God' - in the sense that it was beyond the developers control and as such, will not be held liable. In addition, as you have surmised, going to court in that jurisdiction - the chances of you prevailing based on the 'completion date / cancellation' clause in your contract - will be slim and none - AND - it will probably cost you a hefty sum to take to take it court, as many of the attys in that part of the woods seem to share the Lost Kray genes... You'll fork over the money, months will drag and then you will lose, totally forked.. (so to speak...)
You need to decide - are you prepared to walk away from your 45%? or proceed and have some chance of recovery in the future? especially as it is almost completed and ready for handover - you are actually luckier than most that are still sitting with piles of sand and no help in sight..
good luck
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East end barrow boy
New Member
local newspapers
In general they all follow the party line: ALL IS FINE policy.
However recently they have been slightly braver, and such matters as Khoie executive jailed are in the business section of the National. Home Page - The National Newspaper written by [email protected].
The quote by Dr Potty, as he is know in RAK circles: the project will be built, it will take longer than expected. etc.etc.
My view is that the labour force that Dr Potty controls, ie Al Hamra Developments will be fully employed on the other projects, and then released to work on La Hoya Bay. Thes eother developments will generate more funds into RAKIA and the Dr than the promise to complete La Hoya eventually.
east ender
In general they all follow the party line: ALL IS FINE policy.
However recently they have been slightly braver, and such matters as Khoie executive jailed are in the business section of the National. Home Page - The National Newspaper written by [email protected].
The quote by Dr Potty, as he is know in RAK circles: the project will be built, it will take longer than expected. etc.etc.
My view is that the labour force that Dr Potty controls, ie Al Hamra Developments will be fully employed on the other projects, and then released to work on La Hoya Bay. Thes eother developments will generate more funds into RAKIA and the Dr than the promise to complete La Hoya eventually.
east ender
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East end barrow boy
New Member
Royal Breeze and Marina Al Hamrah
Drove in the Marina area yesterday, Friday. Sign posts and advertising hordings say the Marina Yacht Club and Restaurant are open, well our Friday brunch was cancelled as it was closed.
The open air pool next to the Yacht club was finished, (?) but not filled with the essential ingredient.
The wall enclosing all of the beach area along the Royal Breeze sea view frontage is no complete, and if eventually there is beach access it will only be after a long walk, round the corner. I suppose it was called Royal Breeze, because the Royal Family wanted the best bit for themselves.
Back to the Marina today, for a little sailing recreational fun and games.
The Al Hamra Shopping experience "Mall" is getting more popular every day, on Friday there were 150 asian gentlemen mall walking, and about 50 in line outside the booze store each buying a small can of beer.
Food court should be open next month, at present perhaps 20-25% of the retail experience is available for your perusal. However they are very short of customers but high on spectators.
east ender
Drove in the Marina area yesterday, Friday. Sign posts and advertising hordings say the Marina Yacht Club and Restaurant are open, well our Friday brunch was cancelled as it was closed.
The open air pool next to the Yacht club was finished, (?) but not filled with the essential ingredient.
The wall enclosing all of the beach area along the Royal Breeze sea view frontage is no complete, and if eventually there is beach access it will only be after a long walk, round the corner. I suppose it was called Royal Breeze, because the Royal Family wanted the best bit for themselves.
Back to the Marina today, for a little sailing recreational fun and games.
The Al Hamra Shopping experience "Mall" is getting more popular every day, on Friday there were 150 asian gentlemen mall walking, and about 50 in line outside the booze store each buying a small can of beer.
Food court should be open next month, at present perhaps 20-25% of the retail experience is available for your perusal. However they are very short of customers but high on spectators.
east ender
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ahmedaed
New Member
hi
the investor always looking for the best place which is going up and developing vastly so in ras al khaimah property investment is going on with profitable manners
the area is becoming very beautiful because of its latest and advanced infrastructure and high slandered of living commercial areas for commercial investment. the investor should see real estate consultants for latest updated informations there are also other business are promotde as rak business investment
the investor always looking for the best place which is going up and developing vastly so in ras al khaimah property investment is going on with profitable manners
the area is becoming very beautiful because of its latest and advanced infrastructure and high slandered of living commercial areas for commercial investment. the investor should see real estate consultants for latest updated informations there are also other business are promotde as rak business investment
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East end barrow boy
New Member
Drive RAK to Dubai
The drive from Al Hamrah to Dubai is much reduced due to the 611.
I can drive from Al Hamrah to Mall of the Emirates, in 1h15....
Dubai airport 1h00...
THis is well within commuting to some parts of Dubai, but certainly not Diera.
Rental demand is not LOW, as there are many new businesses in RAK, and these need long term accomodation for management.
The drive from Al Hamrah to Dubai is much reduced due to the 611.
I can drive from Al Hamrah to Mall of the Emirates, in 1h15....
Dubai airport 1h00...
THis is well within commuting to some parts of Dubai, but certainly not Diera.
Rental demand is not LOW, as there are many new businesses in RAK, and these need long term accomodation for management.
H
Hubasa
New Member
Ras Al Khaimah - UAE
Irrespective of financial crisis and property prices going down, RAK is still considered to be lucrative. Built up / Ready to move in properties are a good option to opt for when investing compared to under construction. I am able to assist in investing correct properties in RAK with backup of a Qualified Property Consultant. If you are serious and need advice do write back at [email protected]
Irrespective of financial crisis and property prices going down, RAK is still considered to be lucrative. Built up / Ready to move in properties are a good option to opt for when investing compared to under construction. I am able to assist in investing correct properties in RAK with backup of a Qualified Property Consultant. If you are serious and need advice do write back at [email protected]
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East end barrow boy
New Member
Al Hamrah NEW Visa surcharge.
I was charged 10,500 aeds as a processing fee by the Immigration department for my property related visa.
The total cost of my visa was over 20,000 aeds, and that does not include spouse.
Who said NO tax in UAE.
Who said RAK, (UAE) good place to retire to....
RIP OFF Village.
the twins
I was charged 10,500 aeds as a processing fee by the Immigration department for my property related visa.
The total cost of my visa was over 20,000 aeds, and that does not include spouse.
Who said NO tax in UAE.
Who said RAK, (UAE) good place to retire to....
RIP OFF Village.
the twins
C
Catherine4u
New Member
Well I always thought the same that there is no such fee. Thanks for telling. Do we have to pay this fee for all kinds of property visas in UAE ?
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nconcepts
New Member
smart move
Land Sterling
New Member
Hi all,
We will soon start providing Snagging Services for Al Hamra Village Royal Breeze buildings and the Townhouses Types A, B and C.
All RAK Investors are welcome to register their property details with us and we will guide them through the handover process.
Send us an email to [email protected]
Also, we advice you to read our latest article in the Media.
Land Sterling Property Consultants list snagging as vital for newly completed properties | Land Sterling | AMEinfo.com
PM me for any queries.
Regards,
LS.
We will soon start providing Snagging Services for Al Hamra Village Royal Breeze buildings and the Townhouses Types A, B and C.
All RAK Investors are welcome to register their property details with us and we will guide them through the handover process.
Send us an email to [email protected]
Also, we advice you to read our latest article in the Media.
Land Sterling Property Consultants list snagging as vital for newly completed properties | Land Sterling | AMEinfo.com
PM me for any queries.
Regards,
LS.
E
East end barrow boy
New Member
I am phase 1 Town house, in Roma Stree
My status report:
This was the first phase to be built and well matured.
The following are matters that are outside the scope of snagging as far as any warantee is concerned, but should be noted by newer purchasers.
The outside garden, and common walls, have no or almost no expansion joints, and thus as such are developing large cracks.
The Water Pumps, fail all the time: new specs are apparantly in the newer properties, but beware.
The pressure switches are prone to fail, and thus pumps rum H24. The float switches also fail, so no water permitted from ground level to header tank.
In bathrooms and toilets, the metal covers for the toilet roll holders, and very bad quality, and reust quickly, the screws holding the plates on also are not secured, so fall off, and get lost
The metal,(?) grill on the floor in these areas, are very bad quality, so beware early corrosion.
Get your air con filters internal and external serviced NOW.
Some bathroom windows, (the ones we never open),are sometimes a very bad closure fit. Check they open and close easily.
External paving blocks, will have started to settle now, after some use, if there is any excessive settling, due perhaps to car parking, get it rectified, cos as soon as the rains start, they will settle more, as the sand flows away.
Patio slabs, also might have started to settle, so any cracks, broken edging, or settlement to be reported.
Internal marble flooring, the quality is not very good, and some edge damage is always visible.
Internal paintwork, the quality is not the best, either paint or painter, so if any discolouration seen, report it.
These are the items that I accepted, as I bought a distressed sale, three years ago.
I am very happy in the house, and am pleased to be in Ras al Khaimah.
East ender.
My status report:
This was the first phase to be built and well matured.
The following are matters that are outside the scope of snagging as far as any warantee is concerned, but should be noted by newer purchasers.
The outside garden, and common walls, have no or almost no expansion joints, and thus as such are developing large cracks.
The Water Pumps, fail all the time: new specs are apparantly in the newer properties, but beware.
The pressure switches are prone to fail, and thus pumps rum H24. The float switches also fail, so no water permitted from ground level to header tank.
In bathrooms and toilets, the metal covers for the toilet roll holders, and very bad quality, and reust quickly, the screws holding the plates on also are not secured, so fall off, and get lost
The metal,(?) grill on the floor in these areas, are very bad quality, so beware early corrosion.
Get your air con filters internal and external serviced NOW.
Some bathroom windows, (the ones we never open),are sometimes a very bad closure fit. Check they open and close easily.
External paving blocks, will have started to settle now, after some use, if there is any excessive settling, due perhaps to car parking, get it rectified, cos as soon as the rains start, they will settle more, as the sand flows away.
Patio slabs, also might have started to settle, so any cracks, broken edging, or settlement to be reported.
Internal marble flooring, the quality is not very good, and some edge damage is always visible.
Internal paintwork, the quality is not the best, either paint or painter, so if any discolouration seen, report it.
These are the items that I accepted, as I bought a distressed sale, three years ago.
I am very happy in the house, and am pleased to be in Ras al Khaimah.
East ender.
P
propertypalmjumeirah
New Member
We have an apartment in Rak, Min al Arab. Its a small studio approx 400sqft
Havent been there in 2 years....
Anybody has an idea what its worth as im keen to sell it?
Havent been there in 2 years....
Anybody has an idea what its worth as im keen to sell it?
M
MidasTouch
New Member
Mina Al Arab apartment
Nothing unless you have a buyer unfortunately. RAK Properties still has alot to sell. If you have done handover, rent it out and ride the market out. At least you will get some return on your investment. Don't know what the market is going to bear on rent yet. The development is no where near complete. They aren't releasing any apartments for occupation until ALL the buildings are complete. The Grenada phase has held a higher rent market than that of Al Hamra Village at 85k PA average for townhouses and 120k for villas and 160k PA for the sea/beach front villas. Bab Al Bahr, while still under construction as well, has done remarkably well. 3 buildings with about 85% occupancy. Rakeen has been renting out the units that didn't sell. Studios were 18k and are now at 20k PA. 1 bed averages 36 to 40k and the largest 2 bed at 55k PA.
Royal Breeze in Al Hamra is about to release building 1. Have no idea about the rent, not sure how many have actually handed over. Will be interesting to see.
Best of luck ! PM me if you have anymore questions. I can send you pics if you would like.
Nothing unless you have a buyer unfortunately. RAK Properties still has alot to sell. If you have done handover, rent it out and ride the market out. At least you will get some return on your investment. Don't know what the market is going to bear on rent yet. The development is no where near complete. They aren't releasing any apartments for occupation until ALL the buildings are complete. The Grenada phase has held a higher rent market than that of Al Hamra Village at 85k PA average for townhouses and 120k for villas and 160k PA for the sea/beach front villas. Bab Al Bahr, while still under construction as well, has done remarkably well. 3 buildings with about 85% occupancy. Rakeen has been renting out the units that didn't sell. Studios were 18k and are now at 20k PA. 1 bed averages 36 to 40k and the largest 2 bed at 55k PA.
Royal Breeze in Al Hamra is about to release building 1. Have no idea about the rent, not sure how many have actually handed over. Will be interesting to see.
Best of luck ! PM me if you have anymore questions. I can send you pics if you would like.
J
James Greg
Banned
UAE realy estate business is badly disturbed because of bad economic condition. People are more attracted toward other countries instead of it. But it is predicted and news from analysts that in 2012, Dubai will take stand in property business. As we can see that in Discovery Gardens and Business bay people are taking interest for apartments on rent. It shows that these are the places where you can invest. Moreover, also new commercial and residential projects are going to be start over there.
