#PROJECT-Ras Al Khaimah: MARJAN ISLAND

[soennecken]

Originally Posted by kuttika

can we add Bab al Bahr to this thread as I dont see much information on the separate thread for this project.....i am considering buying there and find it quite interesting./.any comments

NO.... lets NOT add Bab al Bahr here. There is not much happening on the BAB thread because there is not much happening at the site. Moving it here won't make things start to happen.
Soen

[martinfields]

i lived in Dubai for 2 years and ras al khamai and is an oasis of a county. i am also aware of the al marjan island which will compete very favourably with the palm in Dubai and only 45 minutes away. Many people i now are planning to move to this emirate as it offers far better tax incentives and privacy and al marjan island will be the most prestigious man made islands in the world.

Unlike dubai that dredged sand al marjan island is not thus allowing the sea to stay clean. i have invested in 6 properties to date on al marjan island and by far the most exciting development on the island will be the new 6 star marriott development previously known as aakar. This has only recently been announced but is positioned in the most favourable position with the most beach front for the size of the development.

i do not work in anyway with this development but advise smart investors to take a look at the aakar development that is being sold by http://www.7cinvest.com/uae/aakarmarjan.php

this is not the actual development as Marriott have now taken over but is going to be spectacular and wheras other developments are around the 1200 Dirham per square foot, this is similar, but is 6 star and is in a better location. Furthermore there are 2000 apartments in la hoya but there are only 300 exclusive apartments in this development making it very easy to sell on later. I know dozens of people who have bought terrible identikit apartments in massive developments in dubai and there is difficulty selling.

Anyone who has done the research will take a wide berth of la hoya and blu mirage as these are both in terrible locations at the entrance without facing onto a beach and not cheap either for what is being offered. There are also 1000s of apartments very close together. The marriott development is also surrounded by town houses and villas and will have a premium location and make rental considerably easier. the apartments also face south west so gets excellent light all day.

please do not take my word for it but definately worth looking into if you are looking to invest.

i would be interested to hear otehr peoples experiences or ideas on the al marjan island development as it will take off in the next 6 months as the interest picks up.

[Yousuf27]

You need to declare your interest Martin. There is a lot of scaremongering going on in your post and very little is backed up with any fact. Your intention is obvious, and this attempt not the most subtle I've seen on SSC.

I would strongly recommend that fellow investors in LHB and BM take these posts with a large pinch of salt!

[Ali_Syed]

martinfields, thanks for the sales pitch. but this is not a bill board where you put your marketing skills to test. these threads are about the particular developments. unless you dont have anything directly in regards the development in question, its better you dont contribute these time wasting comments.

thank you.

[soennecken]

A word of advice to martinfields. I always find that a post well written with good grammer and spelling carries more authority than mumbojumbo. While I agree with martinfields that Al Marjan Island will be a world beater in terms of investment and lifestyle, my faith in his knowledge ends there.



Here is a pic taken today from 10,000ft. I have added the copyright for obvious reasons!

Angry Soen

[Yousuf27]

That's a great picture Soennecken. Thanks for posting it!

[omar j]

Marbilla bay

is this a new project?

http://www.manazil-uae.com/tower5/fi...ort_Dec_07.doc

[bizzybonita]

AAKAR Marjan Island LLC to invest AED 600 million in luxury hotel and residential apartments complex in Ras Al Khaimah

AAKAR Developers, a leading Canadian real estate and property developer, has announced that it has partnered with Kayi Construction, a Turkish-based development and construction company, and Taranjit Sahni to form a new company, AAKAR Marjan Island LLC, in a bid to develop a five star luxury hotel and residential apartments complex in Ras Al Khaimah.



Following the partnership, AAKAR Marjan Island will invest AED 600 million towards the development of an exclusive hotel and residential project on Al Marjan Islands, the first man-made island community project in Ras Al Khaimah being developed by RAKEEN. The developer has signed a strategic agreement with RAKEEN and is currently holding talks with internationally reputed hotel operators for the management of the project, which will be officially launched in the first quarter of 2008.

The partnership between three leading names in the real estate and property development sector will seek to leverage the growth and emergence of Ras Al Khaimah as a commercial and tourist attraction. Occupying a 5-acre plot on the largest island of the Al Marjan Islands development, the developer's first venture will include a five star hotel and freehold residential apartment complex with breathtaking views of the ocean, which will be fully serviced by a five star hotel operator.

In addition, each of the well-appointed rooms, suites and apartments will allow for stunning views of the Arabian Gulf and is set to feature state-of-the-art luxury amenities. Targeted for completion in 2010, the ultra-exclusive project is in close proximity to the Ras Al Khaimah Airport and Dubai International Airport as well as the RAK Free Zone, allowing investors an opportunity to combine business and leisure.

"Our latest development project represents our commitment towards long-term and high-value investments into the UAE. Ras Al Khaimah's emergence as a hotspot for iconic properties and its recent liberalization of commercial laws are a strong attraction for us to invest into luxury developments in line with the vision of the emirate. We are presently in talks with leading hotel operators for the management of our latest property, which will undoubtedly offer exclusive privileges at par with other world-class developments," said Yadvinder Singh, CEO, AAKAR Marjan Island LLC.

Ranked among the 5 biggest contractors in Russia and one of the top 200 international contractors according to McGraw Hill Construction's Engineering News-Record, Kayi Construction has extended its business scope from its origins in the Turkish building sector to constructing international projects through its regional subsidiaries.

Having built a strong reputation, for the last 16 years, among the rapidly growing real estate markets of Russia, Kazakhstan, Algeria, and Lithuania, the company has grown to employ more than 7500 workers in various regions. Kayi's current project portfolio has a total value of USD 1 billion, with each of the projects reaching international quality standards through the use of most advanced technology and engineering concepts.

"With the rapid influx of investors looking to purchase high value developments growing greater than ever before, the emergence of ambitious developments amidst the outstanding growth of the UAE property market has become the mainstay of the real estate sector in the UAE.

In line with our aim to fully leverage the opportunities present in this highly dynamic market, we have partnered with AAKAR and Taranjit Sahni, who have both built a reputation for their expertise and commitment in the global real estate field. By combining our turnkey contracting services with our partners' own strengths, we are confident that our new venture will exceed the expectations of our customers," said Coskun Yilmaz, Chairman, Kayi Construction.

Located 27 kilometer southwest of the town centre, the Al Marjan Islands is a cluster of coral-shaped islands that spans over 2.7 million square meters and has a commercial value of over USD 1.8 billion. Scheduled for completion by June 2009, the property is set to offer incomparable living and leisure options including waterfront homes, floating villas, hotels, resorts, sporting facilities and commercial hubs.

RAKEEN, the developers behind Al Marjan Islands and RAK Offshore amongst others, was launched by the Government of Ras Al Khaimah as a private joint stock company with an overall value of AED 4.4 billion in a bid to expand its involvement in the emirate's rapidly booming real estate and property industry.

"The Al Marjan Islands is a flagship project, which has been launched in line with the vision of transforming Ras Al Khaimah into a high-end tourism and commercial destination. With a clear commitment towards the development of this luxury project in addition to our understanding of how to translate large scale projects into reality, we are gearing up for the launch of our landmark project," concluded Taranjit Sahni.

The luxury hotel and residential project will the second development associated with AAKAR Developers, the developers of the AED 200 million Canada Business Centre Tower, which is currently under construction in Business Bay.


R

[bizzybonita]

[soennecken]

[Godfather ofProperty]

Hello, i'm new to these postings however i have invested quite substantially over the last few years, particulary in the UAE and emerging markets, i have been speaking to a company recently that i am now gaining some trust with, they have just forwarded me a pic of new development on marjan island, it looks gr8, just wanted to know if anyone knows about it...

[kuttika]

picture missing!!!!!!!!!!:

[Our Property World]

Hi All,

We just went out on site in March 2008, so are adding some photos.
The project is selling very well. Buildings A, B and C are almost sold out. Most of the sea/pool views apartments are gone now (that is what we have been advised by the developer Khoie). We have stock left on lower floors only.

We understand that once these are sold then buildings D, E, F will be launched in phases. Prices will of course rise as time goes on.



Khoie are the only developer on the whole of Al Marjan island that has completed piling work.



















The best thing about this development is that it is far ahead of its competitors and has a fantastic payment plan. 15% down, 15% i six months, then 70% on completion.

Brilliant!

I am sure you'll see lots more happening on Al Marjan Island over the coming year, but we are confident La Hoya Bay will be one of the first to complete their project, if not the first.

[rags]

Ayyaz, You must post these at the following URL. That is the one for La Hoya Bay Residence in particular.

http://www.skyscrapercity.com/showth...405695&page=12

[DanishGardener]

Hi Folks

Virgin poster on this site although I have bought in Dubai. Does anyone have some good info on Select Properties and Marjan Island and their developments. Their Standard Payment Plan is 15% down, 15% every six months and 10% on completin - Seems steep. 2 bed sea view - 1.3m 933 sqft (1041 sqft with balcony) Is LHB residences 1 or 2 beds better bet and still anything out there to buy today?
help apprciated

[Ali_Syed]

Select Properties are expensive. Inline with Damac, who are another expensive developers in UAE.

in al-marjan island a good deal will be around AED 1000 per sq. ft. in price. whereas the above property you mentioned is coming at 1400 dirhams per sq. ft. which is in high range.

[soennecken]

I agree with Ali, not only is it expensive, 933 sq feet is very small for a 2 bedroom apartment. LHB and BAB 1 bedroom apartments are bigger!
933sq/ft is what you would expect at Canary Wharf, not the UAE.

[MrAustralia]

I have booked an apartment in Pacific by select properties. how is the project let me know

[MrAustralia]

Hi all,
I have booked an apartment in Pacific by select properties, somebody has latest pitcures or reports on the project. it will be of great help my email id mraustralia_in@yahoo.com

[Yousuf27]

Originally Posted by soennecken

I agree with Ali, not only is it expensive, 933 sq feet is very small for a 2 bedroom apartment. LHB and BAB 1 bedroom apartments are bigger!
933sq/ft is what you would expect at Canary Wharf, not the UAE.

Absolutely Soennecken! I was at Marjan Island twice in the past few days. There is only a lot of activity at LHB and BAB. Not much evidence of activation elsewhere except for the contractors actually building the Islands. LHB is much further ahead than BAB and should easily be the first to do handovers. Whether or not they make December this year for the first 3 blocks - well, I rther doubt it. There is now proper foundation construction going on though - I mean above the piling and I'm guessing (I could only see from some distance) that I was seeing the foundations of Blocks A and B rising.

Even before a visit I was convinced that buyers should stick to developments in the sheltered bays not exposed to the open ocean and my visit appeared to bear this out. In the LHB lagoon there were no waves at all - and nor could there be even if a strong wind were to blow off the lnd side - as there is not sufficient "fetch" for waves to build. You will never see waves above 30cm in this bay in my opinion. Go to the other side of the island - the Dubai side if you like - which is exposed to the ocean - and it's different story. There was no severe weather on either occasion I visited but on the fist occasion the wind speed was about 15 kts - thats Force 4 - there were waves breaking on the rocks and beaches on that side. Not big waves - but Force 4 is quite good weather. During Winter time when you might see Force 6 or 7 from time to time the wave action on this side will be significant.

By the way Spinneys at the new shopping centre at Al Hamra village opened while I was there. It's only about 3 km from Al Marjan Island and caters for all European and local needs. It's great to have that just down the road - although I was told by Khoie that Al Marjan will have it's own shopping complex in due course. In the meantime it's good to know that the early residents at LHB and BAB will have a decent supermarket on their doorstep!

By the way if it's a measure of the future of the RAK tourist industry (and I think it is) the RAK Hilton (that's the town hotel and the Beach Residences & Spa) was running at 92% occupancy rising to 100% as we left. They are opening another property connected with the Beach Residences - 160 rooms coming online in December 2008, and a further 160 rooms in 2009. The place was packed - mainly with German and Russian guests. This bodes very well for the potential holiday rental market at Al Marjan Island I think.