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Select Investment Opportunities in Ras Al Khaimah

Select Investment Opportunities in Ras Al Khaimah

Article by Select

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As momentum gathers in Ras Al Khaimah, growth in capital values is predicted to soar

Following outstanding success, Select Property has announced the launch of additional apartments and suites in its inaugural development, Pacific, located in the emerging Emirate of Ras Al Khaimah. The UK’s leading overseas property investment company released its first development in this exciting Emirate in March of this year and has sold over 500 units in under three months.

Select Property has released a selection of studios, Gulf Suites and two bed apartments for sale. The luxurious, 900 sq ft two bed apartments are on sale from £124,000 (£138 per sq ft) and are a real investment opportunity, offering fantastic rental returns as a holiday-home as well as strong capital growth.

The wide range of impressive investment benefits include rising rental yields, a projected capital appreciation of over 20% in 2008 and more importantly its close proximity to Dubai (just 45 minutes). It is easy to see how this Emirate is becoming attractive to Dubai commuters wanting a beach life or a weekend retreat, as well as to the overseas holiday market.

The stunning development Pacific, situated on Al Marjan Island, is due for completion in June 2011 and consists of six contemporary, buildings, each named after Pacific Islands.

“Select Property has released a number of new properties in the development as interest and demand for such a prime location grows. The new properties present prime investment opportunities, particularly the two bed apartments which are perfect for the shrewd investor who will benefit from greater capital appreciation on their properties due to their comparably low price per square foot,” comments Mark Stott, managing director, Select Property.

He continues: “Dubai has long been the jewel in the crown of the United Arab Emirates, but Ras Al Khaimah is attracting increasing numbers of investors. The area is predicted to enjoy the same level of success as Dubai, so now is the time for investors to buy in this beautiful area.”

Luxury housing is available at affordable prices – some 50% cheaper than Dubai comparables, and, together with the ruling Sheik’s commitment to developing the region and attracting inward investment, including existing procedures to sell freehold title ownership, it has great potential for capital gains and rental returns. What makes the development even more attractive is that Select Property is the only developer on Al Marjan Island to offer a 15 year non status payment plans combined with the security of an escrow account.

Pacific is Select Property’s first development and is being constructed jointly with Select Group. The two companies have enjoyed success in the past with Select Property exclusively marketing and selling four off-plan developments for Select Group, including Dubai Marina’s centrepiece Bay Central, the iconic super tower – The Torch, The Point, and Botanica, the only residential development with a sky garden.

Pacific is situated in a prime location on Al Marjan island, offering residents private beaches overlooking the clear waters of the Arabian Sea and year-round sunshine. Facilities include 24-hour security, maid service, saunas, steam rooms and Jacuzzis a glass topped gym and health club. There are also countless dining and shopping facilities, all of which are in keeping with the tone of the island which has an all-together more laid back feel than neighbouring Dubai.

Al Marjan Island is the first man made Island in Ras Al Khaimah. It has been built with best practice learning from successful schemes in neighbouring Emirate Dubai – the first of which, The Palm Jumeriah has witnessed a massive 500% increase in prices since 2002.

Al Marjan master developer Rakeen, has incorporated the most environmentally friendly practices during the islands construction using natural rock to attract coral life instead of ‘hostile dredging’. This process positively encourages the formation of natural reef, establishing a long-term aquatic paradise.

For more information on Select Property or any of its developments in Bulgaria, Turkey, Dubai or Ras Al Khaimah, log on to www.selectproperty.com or call 0870 111 8892.

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