Ras Al Khaimah - News/Info

[anil]

A new thread for general news or infomation that may be useful to RAK investors.

To kick things off...

Escrow accounts are law.

Ras Al Khaimah strengthens property market - Middle East News

[anil]

Ras Al Khaimah property prices will double in two years - Middle East News

[InfoGuru]

Ras Al Khaimah seems to be hyphed a bit too much. This area is great if you want cheap property for your own use as the area is really nice.
However I don't think it is good for long term investment. The problem is that it is too far away from Dubai to be of a commuting distance. Most of the demand is in Dubai and in the areas surrounding Dubai. Thus the rental demand will be very low.
Everyone buying in this area seems to be an investor - not an end user who wants to live there. The realistic forecast is around 18% to 20% growth per year.

[Crofty2000]

Info Guru
Where do you get the figure of 18% to 20% growth? I do agree that is 2 hours away from Dubai and not 40 minutes as they claim in the brochures but this is a nice area to have property, especially if you are going to use it yourself. The prices are half that of Dubai and whilst it may not be as attractive for investment as Ajman, it should be ok and better than Dubai.

[anil]

I think the same doubts were being expressed for the early days in Dubai's developement. There is always a higher risk associated with early investment.

Other factors to consider:-
- the rail link across the Emirates
- RAK's own growth and business that will draw people to live and work there

[anil]

Gulfnews: RAK tourist arrivals surge 28% to 215,000 last year

[anil]

Shah Rukh Khan forays into real estate
Dubai (PTI): Bollywood heartthrob Shah Rukh Khan is developing a cluster of signature buildings on Al Dana Island in Ras Al Khaimah, one of the UAE's seven emirates, a media report said on Thursday.

The project in association with the TSA International Investments is called Shah Rukh Khan Boulevard. According to the Arabian Business Magazine the actor will be in Dubai from October 6 to 9 to announce the project at real estate expo Cityscape Dubai.

Shah Rukh has reportedly been keenly involved in the conceptualisation of the project that has been designed by celebrity architect Tony Ashai.

Buyers have been invited to offer refundable 'expression of interest' cheques for the proposed studio, one and two bedroom apartments, but sales will begin only after the official launch by Khan on October 20.

[fbx258]

Anil, i am thinking of investing in the pacific in Al Marjan Island for about 1100 per sqt ft.
I have read nothing but excellent reviews on Al Marjan Island and its potetional growth over the next 12- 24 mnths.

Do you think this is a good investment ? or should i wait for more construction to start happen there ?

Brgds

Willams

[anil]

Originally Posted by fbx258

Anil, i am thinking of investing in the pacific in Al Marjan Island for about 1100 per sqt ft.
I have read nothing but excellent reviews on Al Marjan Island and its potetional growth over the next 12- 24 mnths.

Do you think this is a good investment ? or should i wait for more construction to start happen there ?

Brgds

Willams

Hi,

It would be difficult for me to give you a balanced view as I have already invested in the Pacific development.

The way I see it: if you buy into the RAK story and if you can accept that the same will happen in RAK that happened in Dubai, then it is just a matter of choosing a project that you like. If you dont believe in it, then keep your money in the bank.

Please be aware of exaggerated forecasts from agents, it is their job to sell and this is an unregulated market.

Good Luck!

[rudeboy]

Originally Posted by fbx258

Anil, i am thinking of investing in the pacific in Al Marjan Island for about 1100 per sqt ft.
I have read nothing but excellent reviews on Al Marjan Island and its potetional growth over the next 12- 24 mnths.

Do you think this is a good investment ? or should i wait for more construction to start happen there ?

Brgds

Willams

wow 1100 thats cheap i paid 1333 but that was 2 months ago is that re-sale or from the developer??