Yes, I did invest in one unit.

Overall I felt it was a decent risk/reward. The long payment plan helps as
I plan to keep the property after completion and see if it will rent.

If the rental covers future payments (and leaves some extra cash flow) then it will have been an ideal ivestement.

I also felt that it necessary to get into the market now before many other developments come online. I also think that if the whole of Al Marjan becomes a success, then, just like in Dubai, RAK may also plan another island.

I have got a unit there. Exactly as another investor mentioned, the risk/reward ratio is good in Al Marjan I think + the private beach factor in pacific is a bonous.

I went for the standard payment though - somehow didn't like the idea of paying interest upfront! hope I haven't made a mistake

i wouldn't say you have made a mistake, it just depends on individual circumstances and finances. i personally went for the lengthy payment plan since i didnt want to put too much money in as i plan to sell before completion. even though there is interest involved it doesnt amount to too much during the build, so hopefully in a couple of years i will see enough appreciation in value to cover the interest and make a tidy profit.

Thanks for reassurance richie83

Are you outside UAE and if so, what would say is the best way to make the payments (for security, ease and rate)? they suggested Hifx to me!

im in the UK and used a currency exchange broker. i registered with both First Rate FX and Smart Currency Exchange, (which is free to do) and i went with Smart since they offered me the best rate. i've also read comments from other people on other forums who have used Smart and they also say they offered the best rates when compared with others, so this was the main reason i went with them. the process was quick and pretty easy and there were no other charges involved, you can always ring up for a quote and if you're not happy with it you don't have to take it, and you can haggle if you're getting a better quote elsewhere. (they even sent me a lonely planet dubai guide as a goodwill gesture worth £7 lol.) i'd definitely recommend them but you should also register with a couple of other brokers so you can compare, do this early so you have plenty of time before your payment is due. hifx are linked with select property, not sure if this is good or bad, but the cynic in me told me to deal with someone not linked to my property deal, although i'm sure hifx are good and reliable too.

RAK is suitable for long term investment. Will do well once the full islands come into the market.

Holding till then would be a good idea.

Regards

Roshan

I know HIFX are linked with Select, but I have been using HIFX for years and for property related transfers to other countries, so they should be acting independently.

It is always worth checking the market rate just before you talk to them, then you will understand the premium they apply.

You can get the market spot rate from
Yahoo! Finance UK - FTSE, Stock Exchange, Mortgages, Loans & More
and type in gbpaed=x where it says "Enter Company or Symbol"

Thanks richie83 and anil

I will be making some phone calls then today

cheers

Hi All,

I was told about the "Pacific" opportunity by a friend but I wanted some more valuable information, where lese could that come but totalproperty and its helpful members. I just bought an apartment yesterday and I believe it is a good investment. I tend to go with beach front properties.

By the way I found the guys from select properties very professional as some of you mentioned here. If any of you need information about properties in Bahrain let me know I have been following the market here in Bahrain closely for the last 2 years.

Cheers
Kimo

Kimo,

members here are helpful yes, but you need to say what valuble info you are after