#PROJECT-Ras Al Khaimah: MINA AL ARAB

[Palm-Host]

Have just been told that the show villas will be ready in 6 months

All infrastructure work has been finished and that Piling is about to commence.

They think that they'll complete on time.

Sounds promising

[davidbht]

Developer has delivered infrastructure to date, which has created a resale market look on gulf news classified for re sales. eg
Standard villa 2nd row from beach granada district
launch price 2.6 mil aed
resale 4.3 mil aed through hunt and harris RAK based estate agent
Hunt and Harris Maria Illot has photos of Mina Al Arab construction status.


You can buy direct from Rak poperties villas townhouse appartments on future districts within mina al arab.
Hotel chains Hilton and intercontinental have signed up for the project as well.

[Smokeey]

I originally posted this in the main property discussion thread but I guess its more relevant here. Basically I came across this yesterday:

http://www.expatriates.com/cls/3091070.html

Lootah Network are offering a 30/70 payment plan on a new development in Mina Al Arab with a 30% guaranteed buyback after 12 months if desired. In effect they are guaranteeing you doubling your money. It sounds too good to be true - does anyone have any thoughts/opinions of this?

[Palm-Host]

This is interesting!



PROPERTY INVESTMENT OPPORTUNITY
Mina al arab, ras al khaimah

Whether you are looking for an appealing rental return, good potential for capital appreciation or a holiday home near to the ocean, we believe that Mina Al Arab represents an excellent investment opportunity. The project has not been on the market for long and investing now will ensure that you are securing your property at an attractive price.

Key Points

- 5 Star Lifestyle
- Government of Ras Al Khaimah Backed Developer
- Excellent Payment Plan
- 5% on Reservation
- 10% 9 Months later
- 15% 6 Months later
- 15% 6 Months later
- 55% on Completion
- Full Bank Financing
- Studio Apartments from 703,000 AED ( GBP 98,000)
- Purchase is Direct from the Developer

The resort is located on the quiet shores of Ras Al Khaimah just a short drive from the busy city life of Dubai. Residents of the the villas, townhouses and apartments will be just a few minutes walk from the private, natural sandy beaches of Mina Al Arab. The properties are extremely well priced and offer you an environment that cannot be found in Dubai. These properties are selling fast so if you are interested in finding out more about the project I would encourage you to call our office without delay. The developer's prices are expected to increase soon.

Contact us for further details info@dubailuxuryhomes.com Tel: 00 971 4 3039305/ 7



Mina Al Arab Residents of Mina Al arab will have access to a superb range of amenities including, 8 themed luxury hotels, a marina, a Lagoon Promenade, restaurants, cafes and boutique shops. Leisure facilities will including, private beaches, swimming pools, spa, health club, gymnasiums, landscaped parks and gardens.

To see the vision of Mina Al Arab please visit www.minaalarab.net




Studios available from AED 703,000 (GBP 98,000)
One Bed Apartments from 968,400AED (GBP 134,500)

The apartments at Mina Al Arab have only recently be launched on sale and they are proving to be very popular with our investors. A wide range of different sized apartments are available to make this the perfect weekend retreat or permanent home.

Townhouses starting from AED 4.22 million (GBP 586,000)

The townhouses of Mina Al arab offer you spacious living accommodation with a choice of fantastic views, from the ocean and marina to parks and gardens. These properties would make a superb weekend home for a family. The Townhouses are a fantastic 3,250 square feet in size.

Villas starting from AED 7.11 million (GBP 987,000)

For those who have ever dreamt of owning a spacious waterfront villa with a large private garden and superb onsite facilities these detached villas are perfect. The Marbella Standard Villa is a superb 4 bedroom unit with terrace, balcony and roof deck areas, as well as a car port and a patio area. The Villa has a very generous total area of 4,141 square feet.




Payment Plan

The attractive payment plan requires that only 45% of the purchase price is payable during the property construction with the balance of 55% due on completion. The payment structure is as follows:

- 5% Payable on reservation
- 10% 9 months after reservation
- 15% 6 months after 2nd payment
- 15% 6 months after 3rd payment
- 55% on completion

Contact us for further details info@dubailuxuryhomes.com Tel: 00 971 4 3039305/ 7

Contact us

We believe that there is going to be a large market for weekend homes as the professional expatriate population of Dubai continues to grow. Mina Al Arab''s many amenities and 5 star facilities, coupled with its front line beach location make this the perfect choice. This project is developed by RAK Properties, which has a sound capital of AED 2 billion. The company's founder’s who hold 45 per cent of the company's sharecapital, include the Government of Ras Al Khaimah, while the remaining 55 per cent was offered in a public shares issue.

[iamhere9]

Originally Posted by Smokeey

I originally posted this in the main property discussion thread but I guess its more relevant here. Basically I came across this yesterday:
http://www.expatriates.com/cls/3091070.html
Lootah Network are offering a 30/70 ....?

I saw the same and was surprised. 30% in one year seems to good to be true.

RAKPROP- Shade some light.

[UAEBBB]

Originally Posted by iamhere9

I saw the same and was surprised. 30% in one year seems to good to be true.

RAKPROP- Shade some light.

Thank you for your enquiry in to Mina Al Arab.

Basically the 30% ROI works like this:

Upon signing the Pre Booking Contract you have a options available as the investor.

1. Optional 12% rental guarantee for five years post completion ( based on original purchase price of apartment + 30% return after 12 months - based on your down payment. If buying on our 30/70 plan ( 30% now & 70% on completion ). A 1 million aed apartment will be 300,000 aed down payment and in 12 months we will give you the option to buy back the apartment from you & give you 390,000 aed. Or you can take the option to continue on the payment plan + 12% rental guarantee for five years post completion.
2. The apartment will not be sold to any third party until 30% is paid.
3. Both the rental guarantee & the 30% ROI can be separated on the contract - both are optional on Payment plan 1 or Payment plan 2.


PAYMENT PLAN 1 - 30% NOW, 70% COMPLETION - AUGUST 2010 + 30% ROI & 12% RENTAL FOR 5 YEARS
PAYMENT PLAN 2 - 20% NOW, 10% IN 12 MONTHS, 70% COMPLEITON - AUGUST 2010 + 30% ROI & 12% RENTA! L FOR 5 YEARS
PAYMENT PLAN 3 - 10% NOW, 10% IN 6 MONTHS, 10% IN 6 MONTHS, 70% COMPLETION - NO BUY BACK, NO 12% RENTAL FOR 5 YEARS

The Pre Booking Contract outlines the options available to you as the investor and the full contract will be issued once 30% is paid and issued within 90 days.


Please look at this and is this a scam???

[casj_75]

Well.....

The price for that development it way to expensive to start with....even the best developments on Al Marjan itself are not that expensive. 30% ROI is basicly added on the actually price e.g. if a 1 B/R starts at 1 mill. AED then about 30% is added on the price, so in that sence it is a bit af a scam. You have to look at the different developments in general and compair prices/areas, Al Marjan is the most expensive one.

[davidbht]

Darwish Enginering are preparing the roads ,drainage,tel,elec in precinct four,then will hand over to Al Hamra Construction too build Villas, Townhouses in precinct 4 (Granada )
Web site www.Minaalarab.net has been updated showing construction photos and drawings architect Woods Bagot.

[The-King]

2008

[docc]

I don't mean to demean RAK but why would someone want to live there?

[Yousuf27]

When they laid the first bricks right down there at the bottom of the Sinai peninsula people said - "why would anyone want to come here?" - and now you have Sharm el Sheikh. Now if people would want to go there, imagine why they might want to go to RAK - great weather all year around, warm water, beaches, firendly people, free zone status in some areas, a very progressive government, and the bright lights (and traffic jams!!) of Dubai just down the road when you want them.

It's less a question of who would want to live there and more a question of who would want to go there at the moment. The few hotels are at virtually 100% occupancy all year round so clearly people do want to go there. It wont be long until people want to live there as well.

[docc]

Yea, but thats a tourist area. Seems to me that this is more like a residential development.

[davidbht]

Had an email from RAK Properties confirming that construction has started on showhomes (Villas) and will be ready within 3 months and Granada will be completed by september 2009.

Any photos anyone

[Chantal Musch]

I haven't got any pictures but I do drive past it every day. Suddenly you can see that the structure is up for some of the beach villa's in Granada and also some Town Houses.

I have a town house in Granada looking to sell for AED 2,700,000. Rak Properties launched new town houses in Marbella phase for around AED 4,200,000 and sold in 1 day!

[drakes]

We spent the Eid holidays over in RAK. We stayed in the Al Hamra Golf apartments. RAK is so lovely and quiet, cooler than Dubai, very calming but we were disappointed that Al Hamra has no beach access. We had taken our kayaks and were expecting some beach time.

But man, were we pleasantly surprised at the amazing progress being made at Mina Al Arab. The townhouses and the villas in Granada already have the frames constructed and they are going great guns.

The great thing about Mina Al Arab is that Granada, and the other precincts , each have access to their own private sandy beaches, not a man-made vertical rock wall.

Personally, we cant wait until they are complete so we can get away at the weekends.

If any one has some progress photos to post, this would be great.

[dubai_nomad]

Originally Posted by drakes

We spent the Eid holidays over in RAK. We stayed in the Al Hamra Golf apartments. RAK is so lovely and quiet, cooler than Dubai, very calming but we were disappointed that Al Hamra has no beach access. We had taken our kayaks and were expecting some beach time.

But man, were we pleasantly surprised at the amazing progress being made at Mina Al Arab. The townhouses and the villas in Granada already have the frames constructed and they are going great guns.

The great thing about Mina Al Arab is that Granada, and the other precincts , each have access to their own private sandy beaches, not a man-made vertical rock wall.

Personally, we cant wait until they are complete so we can get away at the weekends.

If any one has some progress photos to post, this would be great.

Thanks for the update. Many be next time you spend a weekend in RAK, dont forget YOUR camera!

[drakes]

Sorry guys, HAD camera, but it was afternoon when we were there, sun was low. Impossible to take decent pics.
We need those lovely aerial shots that some of you have access to.
Anyone?

[drakes]

Here we go. Some pics of this development from RAK Properties model that was on display at Dubai Cityscape.

[IMG]http://i34.************/mwbmvt.jpg[/IMG]
[IMG]http://i38.************/34e4603.jpg[/IMG]
[IMG]http://i34.************/rti5vq.jpg[/IMG]
[IMG]http://i37.************/mwa98o.jpg[/IMG]
[IMG]http://i34.************/2j1qstk.jpg[/IMG]
[IMG]http://i36.************/5f3ixk.jpg[/IMG]
[IMG]http://i36.************/20l06rb.jpg[/IMG]

All hotels on the zone layout have been confirmed except two I was told. The areas of Granada and Malibu are going to be ready at the same time, Sept 2009. The villas look great.

[drakes]

Oh, and I forgot to mention. RAK Properties were selling beachfront villas in Marbella for AED10m and the second row villas for AED8m.
All the first row have been sold, and there are a couple left in the second row.

I'm taking a trip to RAK shortly and will take some pictures of the construction progress. Unfortunately, it will be from ground level as opposed to aerial pics, but you can clearly see the amount of work thats going on there.

[drakes]

Here are some pictures I took yesterday when I was up in Ras Al Khaimah.

Granada Roads, Townhouses and villas

[IMG]http://i34.************/1629m40.jpg[/IMG]
[IMG]http://i35.************/v6loo2.jpg[/IMG]
[IMG]http://i34.************/s3hk5d.jpg[/IMG]
[IMG]http://i37.************/2w2fz20.jpg[/IMG]
[IMG]http://i38.************/qqe8n7.jpg[/IMG]



Bridges to island
[IMG]http://i34.************/jgi804.jpg[/IMG]



District Cooling

[IMG]http://i36.************/2czd442.jpg[/IMG]



The infrastructure works for Malibu is also complete. Roads and villas in this area to start soon according to Darwish whom I met with on site.