#PROJECT-Ras Al Khaimah: BLU MIRAGE - Page 13

Jasmine's Dad · May 6th, 2008, 06:46 PM

Hi everybody - I received the following from Properties Dubai today - got to be worth a look for all UK buyers. Aired again on Sky Channel 273 on Sunday 11th May 2008 at 9.30am & 5.30pm

"You might be interested to know that there was a property programme “THE NEXT BIG THING” on Real Estate TV (sky), aired on Sunday 04/05/08 about Ras al Khaimah. They covered various developments, giving precise details why RAK is the place to buy and of how the Al Marjan Island was formed. There were interviews with investors, Rakeen representative and Hilton manager.

The views of Ras Al Khaimah and the mountains were outstanding!! There was also mention of the plans to build space station in Ras Al Khaimah taking private journeys into space! This together with WOW RAK will become great tourist attraction year after year!

Please look out for repeats channel 273 Real Estate TV."

mazi · May 6th, 2008, 10:45 PM

Quote:

Originally Posted by Jasmine's Dad

Hi everybody - I received the following from Properties Dubai today - got to be worth a look for all UK buyers. Aired again on Sky Channel 273 on Sunday 11th May 2008 at 9.30am & 5.30pm

"You might be interested to know that there was a property programme “THE NEXT BIG THING” on Real Estate TV (sky), aired on Sunday 04/05/08 about Ras al Khaimah. They covered various developments, giving precise details why RAK is the place to buy and of how the Al Marjan Island was formed. There were interviews with investors, Rakeen representative and Hilton manager.

The views of Ras Al Khaimah and the mountains were outstanding!! There was also mention of the plans to build space station in Ras Al Khaimah taking private journeys into space! This together with WOW RAK will become great tourist attraction year after year!

Please look out for repeats channel 273 Real Estate TV."

Great News Jasmine's Dad

To add to your point, a few days ago I was trying to book a hotel in Dubai via these hotel search websites (e.g. lastminute.com) and was surprised to see many RAK hotels being recommended (even though I'd searched for Dubai)

This is all pre Al Marjan being ready - Imagine when the beauty is completed and ready to host tourists - It will be a boooooooooom man

ah, by the way, do you know which Sky channel it is (sky1 by any chance?)

Neutral Umpire · May 12th, 2008, 04:50 PM

Quote:

Originally Posted by karar

hi to all
i've been offered a service apartment in tower 3 on L7 blue mirage the only think thats worries me its a service apartment and i have to sign alease agreement for 10 years
is it good thing 2 do?or i better look in to the residential apartment investment?can any one give me an advice on that pls
many thanks

Hi Karar,

Can you please advise me how much are they asking for ? Is its s studio or 1-bed ..?

Thanx

tony55 · May 12th, 2008, 07:14 PM

HI EVERYBODY
I AM IN UK CAN SOMSEBODY LET ME KNOW WHICH IS BEST COMPANY TO USE TO TRANSFER MONEY TO DUBAI

vanderlo83 · May 13th, 2008, 01:26 AM

Quote:

Originally Posted by tony55

HI EVERYBODY
I AM IN UK CAN SOMSEBODY LET ME KNOW WHICH IS BEST COMPANY TO USE TO TRANSFER MONEY TO DUBAI

hi tony55

I have personally used Smartcurrencyexchange, found them to be reliable, fast and offered the best rate when compared with others.

also try hifx and first rate fx. i would register with at least 2 currency brokers (which is free and with no obligation) and then you can compare on the day the best rate you can get. they will try to match/beat the other.

THR · May 13th, 2008, 02:56 PM

Also try worldfirst
Try to register with all of them
Rates go up and down all the time - you have to check the rate with all of them all the time as if one offers you the best rate today, it's not guaranteed they offer you the best tomorrow - it's a crazy world this currency exchange business

robsky · May 16th, 2008, 02:48 PM

hi
I have bought studio apartment in BM last month with properties dubai. they said that I will receive first rent money 6 month after opening. Can anyone confirm that?

jobin · May 16th, 2008, 03:40 PM

Quote:

Originally Posted by robsky

hi
I have bought studio apartment in BM last month with properties dubai. they said that I will receive first rent money 6 month after opening. Can anyone confirm that?

If you bought a service apartament you will get your first rent 3 years after completition!!! NO GOOD AT ALL. They done same to me, didn't explain properly!!!

Morrismarina · May 16th, 2008, 04:11 PM

Quote:

Originally Posted by jobin

If you bought a service apartament you will get your first rent 3 years after completition!!! NO GOOD AT ALL. They done same to me, didn't explain properly!!!

WTF. Are you seriously saying the developer will hold onto the rent collected for 3 years before paying it out to investors ??

Jasmine's Dad · May 16th, 2008, 05:40 PM

Quote:

Originally Posted by Morrismarina

WTF. Are you seriously saying the developer will hold onto the rent collected for 3 years before paying it out to investors ??

My understanding is that the developer payment for the first three years [starting 6 mths from rental commencing] of 12% pa is the minimum payment. I have had a look at the draft SPA I have and clause 12 says "... the Developer shall give the Buyer a 12% return....3 years...... if the 60% owner's share of the NOP from pooled rental based on grading is lower". All clear then...... If only they would sort out the escrow a/c details & the final SPA & the finance package how happy I would be!!

Robbo123 · May 16th, 2008, 08:15 PM

Quote:

Originally Posted by jobin

If you bought a service apartament you will get your first rent 3 years after completition!!! NO GOOD AT ALL. They done same to me, didn't explain properly!!!

????? What's is that all about?

In the adminstative terms and conditions Part 5b:

"Guaranteed rate of return shall be 12% per annum, based on the original selling price of herein unit, for the first 3 years after hand-over and upon actual operation of the serviced apartment by the operator."

tony55 · May 16th, 2008, 11:30 PM

Quote:

Originally Posted by Jasmine's Dad

My understanding is that the developer payment for the first three years [starting 6 mths from rental commencing] of 12% pa is the minimum payment. I have had a look at the draft SPA I have and clause 12 says "... the Developer shall give the Buyer a 12% return....3 years...... if the 60% owner's share of the NOP from pooled rental based on grading is lower". All clear then...... If only they would sort out the escrow a/c details & the final SPA & the finance package how happy I would be!!

I am surprised it takes that long to activate escrow account. If I rember correctley it should have taken few weeks to activate account. Has anybody know the latest on activation of escrow account.

jobin · May 17th, 2008, 12:38 AM

Quote:

Originally Posted by tony55

I am surprised it takes that long to activate escrow account. If I rember correctley it should have taken few weeks to activate account. Has anybody know the latest on activation of escrow account.

I bought my studio at the end of march... they set to my " escrow account is gona be open in 2 weeks, and finance just after that" Well now is almost 2 month from that day... i payd allready my 10% and i'm still waiting some news for escrow account... and finance??? would you let me know if some news coming up please???

Jasmine's Dad · May 17th, 2008, 01:41 PM

Quote:

Originally Posted by jobin

I bought my studio at the end of march... they set to my " escrow account is gona be open in 2 weeks, and finance just after that" Well now is almost 2 month from that day... i payd allready my 10% and i'm still waiting some news for escrow account... and finance??? would you let me know if some news coming up please???

I agree - it should have been sorted out by now - personally I will not be paying a single penny into the developers account, so if they want my cash they will need to sort this out.

dubai_nomad · May 17th, 2008, 03:31 PM

Quote:

Originally Posted by Jasmine's Dad

I agree - it should have been sorted out by now - personally I will not be paying a single penny into the developers account, so if they want my cash they will need to sort this out.

good luck with your "full sea view" property!!

andy_bondi · May 17th, 2008, 05:05 PM

Quote:

Originally Posted by dubai_nomad

good luck with your "full sea view" property!!

Nomad: your comment was Irrelevant , inaccurate, smug, and self serving , thanks for you contribution.

At least you managed to spell a few words correctly this time.

Jasmines Dad, I'm going to have a word with the CFO this weekend and report back.

I talk to one of the sales guys last week and they said it the escrow would be in place in a few weeks. Not good enough obviously.

Ali_Syed · May 17th, 2008, 09:04 PM

I dont know what takes this long for setting up the escrow account. The Dubai Sports City (master developer) took 7 months in setting up escrow account for Victory Heights and Canal Residence West (which is just setup now).

May be because every unit has its own account number... this might be the reason? But, anyway, who knows ...

Jasmine's Dad · May 17th, 2008, 09:30 PM

Quote:

Originally Posted by dubai_nomad

good luck with your "full sea view" property!!

He he - my deal with the agent is no cash until the escrow is set up. So in one way I hope it takes much longer to set up. Thanks for your comment though - really constructive....

tony55 · May 18th, 2008, 12:16 PM

Quote:

Originally Posted by Jasmine's Dad

I agree - it should have been sorted out by now - personally I will not be paying a single penny into the developers account, so if they want my cash they will need to sort this out.

Make sure you read the agreemennt because if you do not pay as agreed in payment scudle they can charge intrest and fine.

andy_bondi · May 18th, 2008, 05:39 PM

HI
Regarding the escrow account, talked to the person in charge today and she is "literally waiting for the phone call" to get the account number from Standard Chartered.
According to her should be with-in the next day or two.

Yes there are nasty penalties for late payment , pity there isn't some more incentive for the developer to keep people up to date.

May 6th, 2008, 06:46 PM	#241
Jasmine's Dad Registered User Join Date: Apr 2008 Posts: 377 Likes (Received): 0	RAS AL KHAIMAH ON TV Hi everybody - I received the following from Properties Dubai today - got to be worth a look for all UK buyers. Aired again on Sky Channel 273 on Sunday 11th May 2008 at 9.30am & 5.30pm "You might be interested to know that there was a property programme “THE NEXT BIG THING” on Real Estate TV (sky), aired on Sunday 04/05/08 about Ras al Khaimah. They covered various developments, giving precise details why RAK is the place to buy and of how the Al Marjan Island was formed. There were interviews with investors, Rakeen representative and Hilton manager. The views of Ras Al Khaimah and the mountains were outstanding!! There was also mention of the plans to build space station in Ras Al Khaimah taking private journeys into space! This together with WOW RAK will become great tourist attraction year after year! Please look out for repeats channel 273 Real Estate TV."

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May 12th, 2008, 07:14 PM	#244
tony55 Registered User Join Date: Apr 2008 Posts: 67 Likes (Received): 0	HI EVERYBODY I AM IN UK CAN SOMSEBODY LET ME KNOW WHICH IS BEST COMPANY TO USE TO TRANSFER MONEY TO DUBAI

May 13th, 2008, 02:56 PM	#246
THR Registered User Join Date: Apr 2008 Posts: 31 Likes (Received): 0	Also try worldfirst Try to register with all of them Rates go up and down all the time - you have to check the rate with all of them all the time as if one offers you the best rate today, it's not guaranteed they offer you the best tomorrow - it's a crazy world this currency exchange business

May 16th, 2008, 02:48 PM	#247
robsky Registered User Join Date: May 2008 Posts: 25 Likes (Received): 0	hi I have bought studio apartment in BM last month with properties dubai. they said that I will receive first rent money 6 month after opening. Can anyone confirm that?

May 17th, 2008, 09:04 PM	#257
Ali_Syed Investor Join Date: Jun 2007 Posts: 223 Likes (Received): 0	I dont know what takes this long for setting up the escrow account. The Dubai Sports City (master developer) took 7 months in setting up escrow account for Victory Heights and Canal Residence West (which is just setup now). May be because every unit has its own account number... this might be the reason? But, anyway, who knows ...

May 18th, 2008, 05:39 PM	#260
andy_bondi Di Hydrogen Monoxide View Join Date: Jan 2008 Posts: 10 Likes (Received): 0	HI Regarding the escrow account, talked to the person in charge today and she is "literally waiting for the phone call" to get the account number from Standard Chartered. According to her should be with-in the next day or two. Yes there are nasty penalties for late payment , pity there isn't some more incentive for the developer to keep people up to date.