Manazil Real Estate proudly presents Marbella Bay, one of the finest resorts in the UAE. The resort will be located on the majestic man made island of “Al Marjan in“ Ras Al Kaimah and will comprise waterfront residential complexes and luxury hotels.

http://www.manazil-uae.com/rak/home.html

Any news/updates on this project?

Hi,

I just bought a 1 bedroom there. It has a great finance plan, no interest. Not sure how good the company is but I like the development. When I was talking with the guy at the sales office last week he said all the Studios in the West building had sold out and so have most of the 1 bedrooms. Not sure about the 2/3 bedrooms. The East building isn't going up for sale until everything is sold out on the West one.
Anyone have any more info on this development? They said they will be starting construction in May, although I think that it is a bit strange if they are starting in May but the finish date is November 2011...

I did the same a week ago. The project has a great location which is what caught my attention. Pre-launch prices are 15% lower and I understand they're valid until the end of the month (+free parking).

I heard the aim for completion is May 2010 but the advertised date is Nov 2011. Can anyone else confirm this?

Yeah, free parking although you don't get an alloted carpark. It is just whatever space is available. Not sure how much lower the prices are but they are available until the end of the month, as well as some really good finance options (the one I took is 10% up front, 10% 3 months later, 15% on completion with 45 monthly instalments starting after the 2nd payment).
Didn't hear anything about the May 10th completion, but the sales guy seemed pretty sure everything would be done by November 2011. Either way, the final instalment cheque (15%) is to be made out for Nov 2011.
Apparently also this company is building a resort hotel right next to these apartments that will have a beach, with access for residents.

What is the price per sq ft here, and is there allocated parking available if one wants to pay for it?
To clarify:- are we saying that you pay 10% on contract, 10% 3 months later and then the 45 monthly payments start on 65% of the price, with a final payment of 15% on completion; - is that the way the finance works?

Sorry, - forgot to ask - does anyone know the plot number from the master plan?

I got the payment plan from the developers and it is confusing even there :nuts:. I've asked them to clarify if the 45 monthly payments start from completion or after 1st/2nd payment.

I got the payment plan from the developers and it is confusing even there :nuts:. I've asked them to clarify if the 45 monthly payments start from completion or after 1st/2nd payment.

Thanks for that Mazi. Would you post the clarification when you get it as I'm really interested but the financing is critical for me.

The 45 payments start after the 2nd instalment (3 months from your 10% deposit). So basically 3 months from now (I put my 10% deposit down last week) I will have to pay 10% (2nd instalment), and then the 45 repayments start right after that, with a 15% final payment in November 2011 (which isn't really the final payment because I will still have about 3 of the monthly payments left).
My apartment cost about 783 aed per sq foot :)
Not sure what the plot number is though...

Yousuf, I haven't got the clarification yet, but i suspect it is as Sman described it which would make the payment a little difficult (for me)

I have to say though, the prices seem really cheap compared to all other developments!!!

Thanks Mazi, - yes I can't quite manage that paymenty structure either. I'm really looking for a deal with the majority of the payment coming at handover. I guess I'll keep looking. The prices do seem really good though; - a great opportinuty for some!

Managed to speak to a salesman and got some more info I thought I share with you guys:

- the 48 monthly payment is definitely after 2nd instalment
- the gross size includes communal area (hallway) - this would obviously alter the claimed price PSF if you exclude the comm area
- there is no ESCROW in place (the explanation was that they don't have/need to)

Managed to speak to a salesman and got some more info I thought I share with you guys:

- the 48 monthly payment is definitely after 2nd instalment
- the gross size includes communal area (hallway) - this would obviously alter the claimed price PSF if you exclude the comm area
- there is no ESCROW in place (the explanation was that they don't have/need to)


With regards escrow and saying they don't have/need to...........they bloody well do need to.........to get my money. :lol:

I hate developers who include communal areas into the size of your apartment.......con artists IMO. Who knows what the real price per sq foot is here. :bash:

And their website implies the payment plan starts after completion, it's certainly not clear at all. :ohno:

I'm leaving this one well alone.

can anyone confirm if the first building has sold out?

I was in the offices today finalising my payment, and they said prices have gone up today by 10%
All the studio's, 1 bedrooms and most 3 bedrooms have sold out. Still have a few 2 bedrooms left. It is over 80% sold out.

Morrismarina: where on the website does it imply the payment plan starts after completion?

this is what the website says:

Payment schedule:

10 % on contract signature.
25 % on handing over.
Balance on monthly, quarterly or annual basis

(http://www.manazil-uae.com/rak/pricing.html)

this indicates (to me at least) that payments for the balance would start after completion which is not true

I agree; - what is written on the website does not really reflect the finance scheme on offer accurately. I was quite disappointed when I discovered the reality.

I remember seeing the finance options, but I didn't think that the monthly payments were after construction... but I can't remember if I saw that before or after I had talked with the sales person. Anyway, I like the finance option - I wouldn't be able to afford the finance at other places where you pay big amounts every few months...

Any updates on this one? Have they started building yet? There are still apartments available although not sure which ones... I think maybe the 2 bedrooms (there were mainly 2 bedrooms left a few weeks ago)

The West building has been sold out and the East one should go on sale soon. Prices will be going up again at the end of the month...
They will also be starting to market the hotel/serviced apartments which they are going to be building next to this project.

The West building has been sold out and the East one should go on sale soon. Prices will be going up again at the end of the month...
They will also be starting to market the hotel/serviced apartments which they are going to be building next to this project.

Sman21, I heard the prices went up again off the plan but don't know how much?

Any news on the construction? Anyone has any photos?

I'll be going to Dubai in 2 weeks so will be able to catch up on the latest, but was wondering if anyone any recent news about it construction wise. Any info on the escrow account is also appreciated.

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Press Release

Luxury resort-inspired housing complex of Al Marjan Island completes foundation and piling works

AED 400 million Marbella Bay offers modern waterfront lifestyle in a verdantly landscaped community

July 12, 2009
Manazil Real Estate has announced the recent completion of piling works, load tests, foundations and basement of Marbella Bay, a luxury resort development on Al Marjan Island, the first-of-its-kind man-made island in Ras Al Khaimah. The property units of the project have a combined value of approx. AED 400 million. Manazil has further revealed that it has closely coordinated with Ras Al Khaimah Investment Authority (RAKIA), the government body responsible for the socioeconomic growth of the emirate, for the smooth and safe development of the project and on-time delivery of property units to the customers.

Designed to be one of the finest resorts in the UAE, Marbella Bay comprises luxurious waterfront apartments and a range of leisure facilities in a verdantly landscaped community inspired by the architectural style of the historic Spanish region of Andalusia. Manazil has awarded the construction contract of the project to Nasria Construction Company, which is now working on the project's second parking floor and has completed a furnished mock-up flat at the site, providing customers a preview of the size and type of finish of their future residence. Manazil further revealed that various property units of the project have been sold for a combined total of AED 250 million.

Eng. Yehia Kambris, General Manager, RAKIA RERA said, "RAKIA has been closely monitoring the progress of the entire development as well as other projects being constructed on Al Marjan Island. We are also making sure that all developers comply with the escrow account regulations, and that development projects are constructed according to RAKIA's strict building regulations. Furthermore, we are closely working with Manazil and the rest of the stakeholders of Al Marjan Island to make sure that construction work on the different property developments progress smoothly and harmoniously. RAKIA is making this one of our top priorities as part of our efforts to reassure investors and safeguard their interest."

Eng. Abdul Mohsen Al Hammadi, CEO, Manazil Real Estate said: "We have achieved great progress in the construction work of Marbella Bay as RAKIA has provided critical strategic support that has contributed significantly to the healthy pace of development. We are very optimistic of the excellent prospects of this project as Marbella Bay is poised to emerge as one of the most exciting island-inspired residential destinations in the region."

Marbella Bay will encompass a total area of around 500,000 square feet. Only about 60 per cent of the project site's total land area has been used for the buildings, with the remaining space dedicated to communal parks, swimming pools and lakes. The project consists of a ground floor, two floors dedicated for car parking, and seven floors dedicated for a combined total of 430 residential and commercial units.

Marbella Bay will feature cafes, retail shopping and sea food restaurants overlooking the Arabian Gulf, and will also be equipped with separate health club facilities for men and women, outdoor and indoor swimming pools with temperature control facilities, multi-purpose halls equipped with TV, free internet access, billiard and snooker tables; children playing areas equipped with TV monitoring systems with full parental access in the apartments; a fully serviced mosque; a range of water activities such as fishing, scuba diving, jet skiing and boat trips; and 24-hour security and maintenance services.

Al Marjan Island is a pioneering development project that effectively extends the emirate's coastline by an additional 21 kilometres. Reaching some 4.5 kilometres into the sea, Al Marjan Island will feature a range of residential developments, hotels, resorts, recreational facilities and commercial and retail amenities.

http://i27.tinypic.com/wvxr7l.jpg

http://i25.tinypic.com/16lgzl5.jpg

http://i26.tinypic.com/332o6r4.jpg

IMRE - wher is this on the islands ?

wasnt sure myself so checked it out on their site, it covers quite a stretch facing away:

http://www.manazil-uae.com/rak/location.html

wasnt sure myself so checked it out on their site, it covers quite a stretch facing away:

http://www.manazil-uae.com/rak/location.html

Good job Mark - I must admit I looked and missed that
only good news if that is progresing for the rest of AMI :cheers:

Hi there,

I currently own a 1-bedroom 918 square meter apartment at Marbella Bay West within Marjan Island in Ras Al Khaimah, UAE, and am interested in listing it for sale. It is type A with the large terrace. It is scheduled to be delivered in 2011.

This is a distress sale, so I am looking for a quick turnaround.

Please let me know if it is possible to list it with you.

Thanks and Regards,

Ayman AlSaleh

Photos are found: http://www.manazil-uae.com/rak/gallery.html (http://www.manazil-uae.com/rak/gallery.html)

Hi Aymandxb,
is this apartment still on sale? If yes, please write to me at aruner82@yahoo.com.

Scheduled for delivery in July/August according to their progress update. Better late than never :banana:

http://www.manazil-uae.com/progress/#marbella

Scheduled for delivery in July/August according to their progress update. Better late than never :banana:

http://www.manazil-uae.com/progress/#marbella

Now delayed until Spring 2013 according to their Facebook page.
www.almarjanislandrak.com

Now delayed until Spring 2013 according to their Facebook page.
www.almarjanislandrak.com

is that an official FB page? there was no communication from them since april.

is that an official FB page? there was no communication from them since april.

Yes at http://www.facebook.com/marjanislandresort they would seem to be rather chatty!!
www.almarjanislandrak.com

any idea what the service charge will be like?

Apparently it's all done for fully paid units. Minor (cosmetic) interior works to be done inside units that have NOT been fully paid for as yet.

Anyone went there for a closer visit recently?

Anyone have an update on the handover date for this development to purchasers?

I suspect that the developer would be keen to ensure it is soon as a number of purchasers would be entitled to their full money back uncer their purchase contracts (irrespective of any force majeure or other claims) if handover runs past April!

Anyone have an update on the handover date for this development to purchasers?

I suspect that the developer would be keen to ensure it is soon as a number of purchasers would be entitled to their full money back uncer their purchase contracts (irrespective of any force majeure or other claims) if handover runs past April!

It's not fixed - essentially if they fail to deliver the apartment within 1 year after the date of the final installment, the buyer has the right to get full money back.