benho i agree what i paid was too much for RAK. but it is cheap compared to Dubai Marina or even Palm Island. To get a studio on the waterfront areas on one of the palms you are looking at over 1 million dhs or more.
Another thing I went to Emaars launch in Asmaran where they launched Maysan Towers and the price was 1.8 million dhs for one bedroom appartment in the middle of the desert. Yes 1.8 Million DHS!!!!!!
Looking at Marjan Island you have to compare it with Jebel Ali Palm, or Palm Deira or the Palm Island and you will see it is cheap compared to the man made islands in Dubai.
Another thing Select Property are offering a lenghty 15 year payment plan and from what I have heard is that SP have done well in all their projects which have been mostly on the waterfront.
so ask yourself would u pay 600,000dhs for a studio on a man made island where you have 5 minutes access to a beach or would you pay 1.8 milliondhs for 1 bedroom appartment in the middle of the desert where the closest beach is 30 to 45 minutes away?
Rent wise I dont know about RAK itself but i think Marjan Island itself will hold up because it will do well with the tourists. RAK does have an Hilton Hotel so that does say something about RAK and its tourists industry.
SP is a british group and most ppl investing in Marjan are europeans. I only heard about this project from my sister in UK who saw their advertising and marketting being done in UK.
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