Ras Al-Khaimah - Pacific

Discussion in 'UAE Property' started by anil, Apr 10, 2008.

  1. dubai_nomad

    dubai_nomad New Member

    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 ?
  2. dubai_nomad

    dubai_nomad New Member

    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?
  3. mazi

    mazi New Member

    Has anybody got their countersigned contracts yet?
  4. anil

    anil New Member

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

    Have you not got yours yet?
  5. mazi

    mazi New Member

    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 :eek:
  6. mirpuri

    mirpuri New Member

    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

  7. dxbobserver

    dxbobserver New Member

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

    milktrayman New Member

    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 New Member

    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,

  10. milktrayman

    milktrayman New Member

    Thanks, for the sales pitch !
  11. VQT

    VQT New Member

    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.
  12. milktrayman

    milktrayman New Member

    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?
  13. anil

    anil New Member

    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.
  14. milktrayman

    milktrayman New Member

  15. dubai_nomad

    dubai_nomad New Member

    Pacific - Scoops Best Development Award

    Last edited: Jun 27, 2008
  16. dubai_nomad

    dubai_nomad New Member

    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.


  17. talk

    talk New Member


    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 New Member


  19. dubai_nomad

    dubai_nomad New Member

    Last edited: Jul 8, 2008

    OMAR.WAZIR New Member

    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)

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