Thanks a lot for this. the 70% at completion sounds very attractive, but that's in Feb 09 as far as the developer told me, so it's not very convenient.
I went for another one.

Rammah

The booking deposit is 5000 dirhams, ( divide dirhams by 7.2 to get in pounds ),

then they want 15% of the purchase price by the end of the month.

then 15% 6 months later...

then 70% on completion.

In plain english you will pay approx 57000 for a studio, sea/pool view if you are quick enough.

I purchased yesterday, and there were a few odd studios available.

I am in RAK at the moment, let me know if you need more info.


PS the prices go up on 1st march by 7%, thats offical developer speak!!

My agent in RAK is brilliant, let me know if you want to secure anything.

hOW Is RAS compared to Dubai

I am interested in this too, could you send me details plz

thanks

RAK is very beautiful, with great scenery, unlike dubai which is fast and furious.

RAK is where the dubai people are going for relaxing !!!

It is up and coming...

If you want glamour and glitz and London pace of life, goto Dubai, if you want the peace, tranquility and a laid back lifestyle you goto RAK.

It is 45 minutes from Dubai so you can have the best of both by living in RAK.

It is also very cheap to live there, Dubai is getting very expensive by the day.

You will pay approx 1000 dirhams for the La hoya bay project ( at the moment, due to go up in March )

I am in RAK at the moment, its loveley !!

let me know if you want to know more.

Yes sounds very nice.

Can you direct me as to how to get further details on this project, who are the developers?

Thanks

Hi There, Can anyone tell me if the La Hoya Bay residence is as easy to flip as the agents/developer say it is ... Is it the next big thing and is the price increase as good as they say it is, if so is it better to hold onto these. Also does anyone have an opinion on the better appartments the turet style or other and blocks aswell.. Thanks

This project has been around for a long ime and not just launched. Yes, it would prove well in the long run and would be a version of the Palm Jumairah. Immediate flipping - a big question mark. I would not go into it for an immediate flip.

Water front properties tend to do well and turns out to be a good tourist destination. You could make money from short term rentals. Invest in residential more than commercial. Residentials tend to do well on such developments.

La hoya bay is a man made island and would take a very long time for it to be developed. If you can hold upto the full development being handed over, it would be a good opportunity.

Remember an agents job is to sell so that he can get his commission. Don't take everything on face value.

Regards

Roshan

I think Al Marjan Island is at advanced stage. I saw pics of it, and as far as understand, the island is almost ready, and project developments started! Completions dates may even be ahead of the Palms.

Rammah.

Thanks for that Roshan and Rahmah will take comments on board do you have any other info on that development and do you have any info on the interest free option that is supposed to be with these app...

Guys,
i dont think it will be good for flipping.But good for tourist destination after 5 years.All guys need to consider the water front development that is taking place in dubai and abu dhabi,tourism will have a lot to do with the country.