Marjan island in RAK

[rudeboy]

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.

[theammer]

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

[Nassir]

Originally Posted by mirpuri

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

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

[rudeboy]

Originally Posted by Nassir

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

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.

[theammer]

There are also some 2 beds left as well.

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

[fbx258]

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

[General Trading]

Originally Posted by fbx258

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

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)

[rudeboy]

Originally Posted by General Trading

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)

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.

[General Trading]

its a one bed

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

[rooney]

Originally Posted by General Trading

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)

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]