#PROJECT-Ras Al Khaimah: BLU MIRAGE - Page 6

dubai_nomad · February 19th, 2008, 10:15 AM

Quote:

Originally Posted by beer51

Hi Guys

I went to BM exhibition on Saturday and i couldn't believe the amount of people that were there for a single project. For all the people who have bought in this project give yourself a tap on the back as i think it will do well (only my opinion). BM definitely has the WOW factor.

Did anybody else go, what are your thoughts.

Hi beer do you have any pictures? How are the 6 buildins splayed from each other? I am trying to get hold of a master copy of all 6 towers.

martinfields · February 19th, 2008, 12:39 PM

When i looked at the blu mirage serviced apartments project that guaranteed a income of 12% i was interested. but when you looked closely at this the price of the flats per square metre were around 1400 dirham per sq ft. This means everyone who bought one of the serviced apartments probably paid 300 dirhams per sq ft too much so the rental income guarantee was a gimmick.

However the residential units in tower 1 and 2 i remember were priced around 1000 dirham per sq ft and there was some reasonable units. However the development does not directly have its own beach and facilities, although look good by most standards fall short of luxury developments in Dubai and Rak. If you do buy only buy sea facing, preferably top floor apartments as you have a fighting chance of selling. If you buy something deeper in the building you will find it very hard to sell as probably 50%+ are investors who will sell the apartment before or shortly after completion. Similar is the case in dubai where poor located flats are not easy to sell and appreciate slowly. sea facing are the ones to go for.

there is another thread at

http://www.skyscrapercity.com/showth...=405695&page=6

which might also be helpful. before anyone invests please do some serious research about other developments such as la hoya, aakar and about 10 other developments soon to be released. my advice is to go for properties priced 1000 dirham or less with some sea view or wait for the new projects to come on stream that will offer good buys to early investors. Do not fall for gimmicks such as guaranteed rental as all you are doing is paying yourself back from the inflated price in the first place.

Also if the salesman is not telling it to you straight walk away. The blu mirage sales team are, imho, a slippery bunch.

beer51 · February 19th, 2008, 02:17 PM

Hi Dubai Nomad

Far as i am aware the 6 towers are slayed 45degs. Sorry i don't have a master copy of the towers.

Martinfield

I agree that any rental guarantee is a gimmick and i personally don't buy into a project(residential towers) that offer these sort of incentives and tend to keep away, but as a service apartment it might be different.

Why do think the sales people of BM are slippery bunch? Are you referring to the sales people here in the UK(agent: properties in dubai) or sales people in Dubai. Have you had any bad experience in dealing with them. Please share with us.

Morrismarina · February 19th, 2008, 07:18 PM

Hi Martinfield, firstly many thanks for your posts which are very interesting and thanks for sharing your investment strategy with us all.

I had a brief look at the Seven Continent link that you posted earlier. The only thing I would say is that like all developments payments are not linked to construction stages, they are asking for 10% every three months..........this has to be paid whether or not anything is being built. I've had enough of this lark with my Dubai Marina properties !!!

I went for LHB as I liked the development, a nice mediterranean design but importantly for me, I only pay 30% upfront and then only the remainder of 70% when my keys are handed over. Even Blu Mirage is on an open-ended payment plan. I hate these type of schemes. So for somebody like me with limited funds buying in LHB I'm not shedding out a load of money for no work being done and if there is any delay in construction it's not going to cost me too much, just the interest on the 30% I've paid.

I actually like the LHB location, there is a hotel at the end and LHB Business Village behind. Nice view of the mountains and there's a harbour walk in front. I believe there's access to a beach at the rear but not entirely sure about this.....anybody got any info ?? I personally wouldn't buy at the back of LHB though due to the road noise during construction of other projects on the island - and also afterwards as it's the main service road.

I was looking at the serviced apartments at Blu Mirgage (again a lovely development) but decided I wanted to keep the option of living in the property myself full time so decided fully residential unit would be best to cover all my options.

dubai_nomad · February 19th, 2008, 11:36 PM

Quote:

Originally Posted by beer51

Hi Dubai Nomad

Far as i am aware the 6 towers are slayed 45degs. Sorry i don't have a master copy of the towers.

Martinfield

I agree that any rental guarantee is a gimmick and i personally don't buy into a project(residential towers) that offer these sort of incentives and tend to keep away, but as a service apartment it might be different.

Why do think the sales people of BM are slippery bunch? Are you referring to the sales people here in the UK(agent: properties in dubai) or sales people in Dubai. Have you had any bad experience in dealing with them. Please share with us.

Hi beer , have you seen the naster plan? 45 degree splay seems　ｔｈａｔ　４５ｄｅｇｒｒｅｓ　ｓｅｅｍｓ　ａｌｏｔ．　Ｉｓ　ｔｈｉｓ　４５　ｄｅｇｒｅｅｓ　ｉｎ　ｔｏｔａｌ　ｏｒ　ｂｅｔｗｅｅｎ　ｅａｃｈ　ｐｒｏｐｅｒｔｙ．　ｉｆ　ｉｔｓ　ｂｅｔｗｅｅｎ　ｅａｃｈ　ｐｒｏｐｅｒｔｙ　ｗｅ　ｗｏｎｔｓｅｅ　ａ　ｆａｎ　ｔｙｐｅｄ　ｓｐｌａｙ　ｂｕｔ　ｍｏｒｅ　ａ　ｃｉｒｃｌｅ．Ｈａｓ　ａｎｙｏｎｅ　ｓｅｅｎ　ｔｈｅｍａｓｔｅｒ　ｌｉｓｔ　ｆｏｒ　ｔｈｅｓｅ　ｐｒｏｐｅｒｔｉｅｓ？

Ali_Syed · February 20th, 2008, 12:24 PM

when i spoke to Ines, she said, and if i remember correctly, that each building has 30 meters gap between them.

dubai_nomad · February 20th, 2008, 01:23 PM

Quote:

Originally Posted by Ali_Syed

when i spoke to Ines, she said, and if i remember correctly, that each building has 30 meters gap between them.

but what does that mean? 30 meters from the edge of the building or 30meters from the centre of the building.I am quickly loosing confidence in this development and considering pulling out. Too many varibale that people, includ9ing the agent cant fill. One being the marina and the maser plan the these 6 buildings.

beer51 · February 20th, 2008, 02:01 PM

I think INES should clarify some of these issues as we are not all 100% sure.

dubai_nomad · February 22nd, 2008, 12:46 PM

aa

dubai_nomad · February 22nd, 2008, 12:49 PM

Quote:

Originally Posted by beer51

I think INES should clarify some of these issues as we are not all 100% sure.

Can any of the agents clarify our questions?

Robbo123 · February 23rd, 2008, 03:43 PM

Hello, I have really enjoyed reading all the postings on this site and viewing the photos. I just thought that I would bring another perspective to the forum. I visited Dubai in 2005 on holiday with my family and had a wonderful time. At the time I did not think that I would ever be able to afford a property in the UAE. However, the Blu Mirage development has enabled me to realise this dream. I know that it may not sound much but I have just paid the deposit for a studio serviced apartment. The affordable price, staged payments and the rental guarantee for the first three years has enabled me to do this. I am looking forward to seeing the development grow and can't wait until we can come and stay in our apartment for the first time.

dubai_nomad · February 23rd, 2008, 11:45 PM

Quote:

Originally Posted by Robbo123

Hello, I have really enjoyed reading all the postings on this site and viewing the photos. I just thought that I would bring another perspective to the forum. I visited Dubai in 2005 on holiday with my family and had a wonderful time. At the time I did not think that I would ever be able to afford a property in the UAE. However, the Blu Mirage development has enabled me to realise this dream. I know that it may not sound much but I have just paid the deposit for a studio serviced apartment. The affordable price, staged payments and the rental guarantee for the first three years has enabled me to do this. I am looking forward to seeing the development grow and can't wait until we can come and stay in our apartment for the first time.

Hey Robbo - congratulations on your purchase. BM is a great development and I too am looking forward to completition. But as in all my investments in dubai you have to be one the ball with what the developers and agents are promising. A few of us are still waiting for information from agents and developers on some key issues...still waiting.

beer51 · February 25th, 2008, 01:52 PM

Hi Robbo
Congratulations on your purchase. Well done

Ines · February 27th, 2008, 10:07 AM

Ali_Syed - I have pasted in the info I sent you in my E-Mail today:

The Escrow account is not yet activated, although it has been approved
- I have all the documentation pertaining to this - if you would like copies - kindly contact me via "Private Message".

The reason for this is the cost of operating the account due to the
large volume of cash and that Pure Real Estate is negotiating with
Standard Chartered to provide End User finance - this would be a great
bonus for the project. The developer would have to off-set the
operating cost to investors, therefore raising the price of the Blu
Mirage.

The money in the Emirates Bank account has not been touched and will
be transferred directly to SCB only.

The Developer has a normal operating account with the Dubai Bank - so
be assured that investor's money is safe and has not been touched.

With regards to the span & distance between buildings:

The Ground Floor - 15m approx - GF is Retail - F&B and Recreation Facilities.
1st - 7th Floor - I have been advised that towards the spine of the
building - the long section that joins all the towers together, the
distance will be 25m. The ends of the towers at the waterfront end
will have a distance of 35m.

After you have received your SPA - after the 3rd installment, you can
then transfer. The transfer fee will be 2% of the original price and
this fee includes Administration costs, Legal fees and RAK Land Dept.
fees.

FYI - I have also invested in the Blu Mirage - I bought a studio in T3
- Serviced Apartments.

Kind regards,
Ines

dubai_nomad · February 27th, 2008, 10:39 AM

Quote:

Originally Posted by Ines

Ali_Syed - I have pasted in the info I sent you in my E-Mail today:

The Escrow account is not yet activated, although it has been approved
- I have all the documentation pertaining to this - if you would like copies - kindly contact me via "Private Message".

The reason for this is the cost of operating the account due to the
large volume of cash and that Pure Real Estate is negotiating with
Standard Chartered to provide End User finance - this would be a great
bonus for the project. The developer would have to off-set the
operating cost to investors, therefore raising the price of the Blu
Mirage.

The money in the Emirates Bank account has not been touched and will
be transferred directly to SCB only.

The Developer has a normal operating account with the Dubai Bank - so
be assured that investor's money is safe and has not been touched.

With regards to the span & distance between buildings:

The Ground Floor - 15m approx - GF is Retail - F&B and Recreation Facilities.
1st - 7th Floor - I have been advised that towards the spine of the
building - the long section that joins all the towers together, the
distance will be 25m. The ends of the towers at the waterfront end
will have a distance of 35m.

After you have received your SPA - after the 3rd installment, you can
then transfer. The transfer fee will be 2% of the original price and
this fee includes Administration costs, Legal fees and RAK Land Dept.
fees.

FYI - I have also invested in the Blu Mirage - I bought a studio in T3
- Serviced Apartments.

Kind regards,
Ines

Ines- do you have an official document that shows the distance between each of the buildings from the developers ?
What is the latest on the Marina, do we have a written contract from Rakeen?

Ali_Syed · February 27th, 2008, 11:27 AM

Well, the distance is as Ines mentioned 25meters apart from the base of the buildings, and towards the end of the buildings i.e. the edges near the sea the distance increases to 35meters. So there is a 10meter gain. You can work out the angle of separation from this easily.

dubai_nomad · February 27th, 2008, 01:27 PM

Quote:

Originally Posted by Ali_Syed

Well, the distance is as Ines mentioned 25meters apart from the base of the buildings, and towards the end of the buildings i.e. the edges near the sea the distance increases to 35meters. So there is a 10meter gain. You can work out the angle of separation from this easily.

Im quite capable of working out the angle of seperation, but why should I when the agent can seek this information from the developer/architect and I can see offical plans? If the agent cant find this information then there are obvious issues.

I have different theories from different sales people from the same property agents on how the buildings will be splayed and marina etc, to mention a few. So you can understand why myself and a few other investors are wanting to see offical documents.

I dont think what I am asking is alot, just a mere plan of how the buildings will be splayed from one and another rather than assuming what is told to me by BM agents.

beer51 · February 27th, 2008, 01:51 PM

Hi Ines

Thanks for the update.

yecabel · February 27th, 2008, 05:26 PM

although i appreciate the inside info from ines and ali syed, i dont understand why BM agents are using this media to discuss such matters with current investors?

anyhow, would you then be so kind to clear, once and for all, the issues over marina approval and beach location?

Morrismarina · February 27th, 2008, 07:04 PM

Quote:

Originally Posted by yecabel

although i appreciate the inside info from ines and ali syed, i dont understand why BM agents are using this media to discuss such matters with current investors?

Errr........

perhaps to try and help them ??

February 19th, 2008, 12:39 PM	#102
martinfields Registered User Join Date: Feb 2008 Posts: 10 Likes (Received): 0	blu mirage When i looked at the blu mirage serviced apartments project that guaranteed a income of 12% i was interested. but when you looked closely at this the price of the flats per square metre were around 1400 dirham per sq ft. This means everyone who bought one of the serviced apartments probably paid 300 dirhams per sq ft too much so the rental income guarantee was a gimmick. However the residential units in tower 1 and 2 i remember were priced around 1000 dirham per sq ft and there was some reasonable units. However the development does not directly have its own beach and facilities, although look good by most standards fall short of luxury developments in Dubai and Rak. If you do buy only buy sea facing, preferably top floor apartments as you have a fighting chance of selling. If you buy something deeper in the building you will find it very hard to sell as probably 50%+ are investors who will sell the apartment before or shortly after completion. Similar is the case in dubai where poor located flats are not easy to sell and appreciate slowly. sea facing are the ones to go for. there is another thread at http://www.skyscrapercity.com/showth...=405695&page=6 which might also be helpful. before anyone invests please do some serious research about other developments such as la hoya, aakar and about 10 other developments soon to be released. my advice is to go for properties priced 1000 dirham or less with some sea view or wait for the new projects to come on stream that will offer good buys to early investors. Do not fall for gimmicks such as guaranteed rental as all you are doing is paying yourself back from the inflated price in the first place. Also if the salesman is not telling it to you straight walk away. The blu mirage sales team are, imho, a slippery bunch.

February 23rd, 2008, 03:43 PM	#111
Robbo123 Registered User Join Date: Feb 2008 Posts: 11 Likes (Received): 0	Bought for Love! Hello, I have really enjoyed reading all the postings on this site and viewing the photos. I just thought that I would bring another perspective to the forum. I visited Dubai in 2005 on holiday with my family and had a wonderful time. At the time I did not think that I would ever be able to afford a property in the UAE. However, the Blu Mirage development has enabled me to realise this dream. I know that it may not sound much but I have just paid the deposit for a studio serviced apartment. The affordable price, staged payments and the rental guarantee for the first three years has enabled me to do this. I am looking forward to seeing the development grow and can't wait until we can come and stay in our apartment for the first time.

February 27th, 2008, 10:07 AM	#114
Ines Ines Join Date: Jul 2007 Location: Dubai Posts: 58 Likes (Received): 0	Answers & Info Ali_Syed - I have pasted in the info I sent you in my E-Mail today: The Escrow account is not yet activated, although it has been approved - I have all the documentation pertaining to this - if you would like copies - kindly contact me via "Private Message". The reason for this is the cost of operating the account due to the large volume of cash and that Pure Real Estate is negotiating with Standard Chartered to provide End User finance - this would be a great bonus for the project. The developer would have to off-set the operating cost to investors, therefore raising the price of the Blu Mirage. The money in the Emirates Bank account has not been touched and will be transferred directly to SCB only. The Developer has a normal operating account with the Dubai Bank - so be assured that investor's money is safe and has not been touched. With regards to the span & distance between buildings: The Ground Floor - 15m approx - GF is Retail - F&B and Recreation Facilities. 1st - 7th Floor - I have been advised that towards the spine of the building - the long section that joins all the towers together, the distance will be 25m. The ends of the towers at the waterfront end will have a distance of 35m. After you have received your SPA - after the 3rd installment, you can then transfer. The transfer fee will be 2% of the original price and this fee includes Administration costs, Legal fees and RAK Land Dept. fees. FYI - I have also invested in the Blu Mirage - I bought a studio in T3 - Serviced Apartments. Kind regards, Ines

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February 19th, 2008, 02:17 PM	#103
beer51 Registered User Join Date: Nov 2007 Posts: 665 Likes (Received): 1	Hi Dubai Nomad Far as i am aware the 6 towers are slayed 45degs. Sorry i don't have a master copy of the towers. Martinfield I agree that any rental guarantee is a gimmick and i personally don't buy into a project(residential towers) that offer these sort of incentives and tend to keep away, but as a service apartment it might be different. Why do think the sales people of BM are slippery bunch? Are you referring to the sales people here in the UK(agent: properties in dubai) or sales people in Dubai. Have you had any bad experience in dealing with them. Please share with us.

February 19th, 2008, 07:18 PM	#104
Morrismarina Registered User Join Date: Nov 2005 Posts: 2,612 Likes (Received): 0	Hi Martinfield, firstly many thanks for your posts which are very interesting and thanks for sharing your investment strategy with us all. I had a brief look at the Seven Continent link that you posted earlier. The only thing I would say is that like all developments payments are not linked to construction stages, they are asking for 10% every three months..........this has to be paid whether or not anything is being built. I've had enough of this lark with my Dubai Marina properties !!! I went for LHB as I liked the development, a nice mediterranean design but importantly for me, I only pay 30% upfront and then only the remainder of 70% when my keys are handed over. Even Blu Mirage is on an open-ended payment plan. I hate these type of schemes. So for somebody like me with limited funds buying in LHB I'm not shedding out a load of money for no work being done and if there is any delay in construction it's not going to cost me too much, just the interest on the 30% I've paid. I actually like the LHB location, there is a hotel at the end and LHB Business Village behind. Nice view of the mountains and there's a harbour walk in front. I believe there's access to a beach at the rear but not entirely sure about this.....anybody got any info ?? I personally wouldn't buy at the back of LHB though due to the road noise during construction of other projects on the island - and also afterwards as it's the main service road. I was looking at the serviced apartments at Blu Mirgage (again a lovely development) but decided I wanted to keep the option of living in the property myself full time so decided fully residential unit would be best to cover all my options.

February 20th, 2008, 12:24 PM	#106
Ali_Syed Investor Join Date: Jun 2007 Posts: 223 Likes (Received): 0	when i spoke to Ines, she said, and if i remember correctly, that each building has 30 meters gap between them.

February 20th, 2008, 02:01 PM	#108
beer51 Registered User Join Date: Nov 2007 Posts: 665 Likes (Received): 1	I think INES should clarify some of these issues as we are not all 100% sure.

February 22nd, 2008, 12:46 PM	#109
dubai_nomad Registered User Join Date: May 2006 Posts: 327 Likes (Received): 0	aa

February 25th, 2008, 01:52 PM	#113
beer51 Registered User Join Date: Nov 2007 Posts: 665 Likes (Received): 1	Hi Robbo Congratulations on your purchase. Well done

February 27th, 2008, 11:27 AM	#116
Ali_Syed Investor Join Date: Jun 2007 Posts: 223 Likes (Received): 0	Well, the distance is as Ines mentioned 25meters apart from the base of the buildings, and towards the end of the buildings i.e. the edges near the sea the distance increases to 35meters. So there is a 10meter gain. You can work out the angle of separation from this easily.

February 27th, 2008, 01:51 PM	#118
beer51 Registered User Join Date: Nov 2007 Posts: 665 Likes (Received): 1	Hi Ines Thanks for the update.

February 27th, 2008, 05:26 PM	#119
yecabel Registered User Join Date: Jun 2006 Location: osaka Posts: 219 Likes (Received): 0	although i appreciate the inside info from ines and ali syed, i dont understand why BM agents are using this media to discuss such matters with current investors? anyhow, would you then be so kind to clear, once and for all, the issues over marina approval and beach location?