#PROJECT-Ras Al Khaimah: Marbella Bay

[Sman21]

The West building has been sold out and the East one should go on sale soon. Prices will be going up again at the end of the month...
They will also be starting to market the hotel/serviced apartments which they are going to be building next to this project.

[Shrapnel]

Originally Posted by Sman21

The West building has been sold out and the East one should go on sale soon. Prices will be going up again at the end of the month...
They will also be starting to market the hotel/serviced apartments which they are going to be building next to this project.

Sman21, I heard the prices went up again off the plan but don't know how much?

Any news on the construction? Anyone has any photos?

[Shrapnel]

I'll be going to Dubai in 2 weeks so will be able to catch up on the latest, but was wondering if anyone any recent news about it construction wise. Any info on the escrow account is also appreciated.

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[Imre]

Press Release

Luxury resort-inspired housing complex of Al Marjan Island completes foundation and piling works

AED 400 million Marbella Bay offers modern waterfront lifestyle in a verdantly landscaped community

July 12, 2009
Manazil Real Estate has announced the recent completion of piling works, load tests, foundations and basement of Marbella Bay, a luxury resort development on Al Marjan Island, the first-of-its-kind man-made island in Ras Al Khaimah. The property units of the project have a combined value of approx. AED 400 million. Manazil has further revealed that it has closely coordinated with Ras Al Khaimah Investment Authority (RAKIA), the government body responsible for the socioeconomic growth of the emirate, for the smooth and safe development of the project and on-time delivery of property units to the customers.

Designed to be one of the finest resorts in the UAE, Marbella Bay comprises luxurious waterfront apartments and a range of leisure facilities in a verdantly landscaped community inspired by the architectural style of the historic Spanish region of Andalusia. Manazil has awarded the construction contract of the project to Nasria Construction Company, which is now working on the project's second parking floor and has completed a furnished mock-up flat at the site, providing customers a preview of the size and type of finish of their future residence. Manazil further revealed that various property units of the project have been sold for a combined total of AED 250 million.

Eng. Yehia Kambris, General Manager, RAKIA RERA said, "RAKIA has been closely monitoring the progress of the entire development as well as other projects being constructed on Al Marjan Island. We are also making sure that all developers comply with the escrow account regulations, and that development projects are constructed according to RAKIA's strict building regulations. Furthermore, we are closely working with Manazil and the rest of the stakeholders of Al Marjan Island to make sure that construction work on the different property developments progress smoothly and harmoniously. RAKIA is making this one of our top priorities as part of our efforts to reassure investors and safeguard their interest."

Eng. Abdul Mohsen Al Hammadi, CEO, Manazil Real Estate said: "We have achieved great progress in the construction work of Marbella Bay as RAKIA has provided critical strategic support that has contributed significantly to the healthy pace of development. We are very optimistic of the excellent prospects of this project as Marbella Bay is poised to emerge as one of the most exciting island-inspired residential destinations in the region."

Marbella Bay will encompass a total area of around 500,000 square feet. Only about 60 per cent of the project site's total land area has been used for the buildings, with the remaining space dedicated to communal parks, swimming pools and lakes. The project consists of a ground floor, two floors dedicated for car parking, and seven floors dedicated for a combined total of 430 residential and commercial units.

Marbella Bay will feature cafes, retail shopping and sea food restaurants overlooking the Arabian Gulf, and will also be equipped with separate health club facilities for men and women, outdoor and indoor swimming pools with temperature control facilities, multi-purpose halls equipped with TV, free internet access, billiard and snooker tables; children playing areas equipped with TV monitoring systems with full parental access in the apartments; a fully serviced mosque; a range of water activities such as fishing, scuba diving, jet skiing and boat trips; and 24-hour security and maintenance services.

Al Marjan Island is a pioneering development project that effectively extends the emirate's coastline by an additional 21 kilometres. Reaching some 4.5 kilometres into the sea, Al Marjan Island will feature a range of residential developments, hotels, resorts, recreational facilities and commercial and retail amenities.

[MANUTD]

IMRE - wher is this on the islands ?

[marksageeza]

wasnt sure myself so checked it out on their site, it covers quite a stretch facing away:

http://www.manazil-uae.com/rak/location.html

[MANUTD]

Originally Posted by marksageeza

wasnt sure myself so checked it out on their site, it covers quite a stretch facing away:

http://www.manazil-uae.com/rak/location.html

Good job Mark - I must admit I looked and missed that
only good news if that is progresing for the rest of AMI

[aymandxb]

Hi there,

I currently own a 1-bedroom 918 square meter apartment at Marbella Bay West within Marjan Island in Ras Al Khaimah, UAE, and am interested in listing it for sale. It is type A with the large terrace. It is scheduled to be delivered in 2011.

This is a distress sale, so I am looking for a quick turnaround.

Please let me know if it is possible to list it with you.

Thanks and Regards,

Ayman AlSaleh

Photos are found: http://www.manazil-uae.com/rak/gallery.html

[aruner82]

Hi Aymandxb,
is this apartment still on sale? If yes, please write to me at aruner82@yahoo.com.

[Shrapnel]

Scheduled for delivery in July/August according to their progress update. Better late than never

http://www.manazil-uae.com/progress/#marbella

[SayNoToRAK]

Originally Posted by Shrapnel

Scheduled for delivery in July/August according to their progress update. Better late than never

http://www.manazil-uae.com/progress/#marbella

Now delayed until Spring 2013 according to their Facebook page.
www.almarjanislandrak.com

[Shrapnel]

Originally Posted by SayNoToRAK

Now delayed until Spring 2013 according to their Facebook page.
www.almarjanislandrak.com

is that an official FB page? there was no communication from them since april.

[SayNoToRAK]

Originally Posted by Shrapnel

is that an official FB page? there was no communication from them since april.

Yes at http://www.facebook.com/marjanislandresort they would seem to be rather chatty!!
www.almarjanislandrak.com

[MalcomX]

any idea what the service charge will be like?

[Shrapnel]

Apparently it's all done for fully paid units. Minor (cosmetic) interior works to be done inside units that have NOT been fully paid for as yet.

Anyone went there for a closer visit recently?

[anacreon]

Anyone have an update on the handover date for this development to purchasers?

I suspect that the developer would be keen to ensure it is soon as a number of purchasers would be entitled to their full money back uncer their purchase contracts (irrespective of any force majeure or other claims) if handover runs past April!

[Shrapnel]

Originally Posted by anacreon

Anyone have an update on the handover date for this development to purchasers?

I suspect that the developer would be keen to ensure it is soon as a number of purchasers would be entitled to their full money back uncer their purchase contracts (irrespective of any force majeure or other claims) if handover runs past April!

It's not fixed - essentially if they fail to deliver the apartment within 1 year after the date of the final installment, the buyer has the right to get full money back.