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Northern Emirates Projects in Ras al-Khaimah, Umm al-Quwain, and Fujairah



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Old May 6th, 2008, 06:46 PM   #241
Jasmine's Dad
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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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Old May 6th, 2008, 10:45 PM   #242
mazi
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Quote:
Originally Posted by Jasmine's Dad View Post
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?)
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Old May 12th, 2008, 04:50 PM   #243
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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
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Old May 12th, 2008, 07:14 PM   #244
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HI EVERYBODY
I AM IN UK CAN SOMSEBODY LET ME KNOW WHICH IS BEST COMPANY TO USE TO TRANSFER MONEY TO DUBAI
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Old May 13th, 2008, 01:26 AM   #245
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Originally Posted by tony55 View Post
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.
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Old May 13th, 2008, 02:56 PM   #246
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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
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Old May 16th, 2008, 02:48 PM   #247
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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?
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Old May 16th, 2008, 03:40 PM   #248
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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!!!
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Old May 16th, 2008, 04:11 PM   #249
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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 ??
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Old May 16th, 2008, 05:40 PM   #250
Jasmine's Dad
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Returns

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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!!
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Old May 16th, 2008, 08:15 PM   #251
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Originally Posted by jobin View Post
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."
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Old May 16th, 2008, 11:30 PM   #252
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escrow account

Quote:
Originally Posted by Jasmine's Dad View Post
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.
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Old May 17th, 2008, 12:38 AM   #253
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Originally Posted by tony55 View Post
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???
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Old May 17th, 2008, 01:41 PM   #254
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Quote:
Originally Posted by jobin View Post
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.
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Old May 17th, 2008, 03:31 PM   #255
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Originally Posted by Jasmine's Dad View Post
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!!
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Old May 17th, 2008, 05:05 PM   #256
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Originally Posted by dubai_nomad View Post
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.
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Old May 17th, 2008, 09:04 PM   #257
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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 ...
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Old May 17th, 2008, 09:30 PM   #258
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Originally Posted by dubai_nomad View Post
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....
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Old May 18th, 2008, 12:16 PM   #259
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Originally Posted by Jasmine's Dad View Post
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.
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Old May 18th, 2008, 05:39 PM   #260
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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.
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