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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. Terms under which this service is provided to you. What are the advantages of investing in off-plan properties ? Buying off-plan means buying a property during construction. For early investors taking this route it means getting into the development at a discounted price and having the choice of selecting from a full range of properties.
As a rule of thumb the earlier you invest the better the price, the greater the potential capital growth and return on your investment. This means the greater the potential capital growth on the property over the course of the construction. When will the project be completed ? Expected date of completion is the end of 2020.
Is my money safe between now and completion ? 10 of 2014 protects those investing in off-plan projects. Ras Al Khaimah Municipality Department, the government of Ras Al Khaimah. Developers now have to purchase the land that they will develop, and any payment they receive from off-plan property sales must go directly into an Escrow account. This account is closely monitored by RERA and can only be accessed by the developer as construction milestones are reached. Monies paid for an apartment at Al Mahra Resort go directly to the Developer’s Escrow account at DIB Bank. For more details, please visit the RAK municipality website, RERA-RAK page.
Is the project freehold or leasehold ? Al Mahra Resort is a Freehold project with absolute ownership of the property outright, the owner has full rights to sell or lease the property, and may inherit it upon the owner’s death. What is the project registration number ? What other costs are there in addition to the price of the unit ? All these fees are included in the unit price mentioned in this website. Can I sell my unit before the project is complete ?
Purchase Agreement attested by the authorities you are at liberty to sell your interest in the property you have purchased. The only stipulation required is that the new purchaser must be of good standing. What are the service charge costs expected to be ? Service charge costs will relate to the running of communal areas. These costs are as yet to be confirmed but will be in line with the market norm.
Can I rent my unit out as an investment ? We are doing that for you. Al Mahra Resort is a 4-star hotel and once the project completed expert professional team will manage the hotel and rent it out on daily basis. This will enable you to get higher rental income than the normal one.
After that we expect the return to be even higher. Will my unit reflect the images on this website ? The images on this website are artistic impressions based on architect’s drawings. The finishes in the images are not a true reflection and are for illustration purposes only. Should I expect any capital growth leading up to completion ? The launch prices are discounted to market value and thus capital growth should be seen as the project nears completion. Can I apply for a residents’ visa if I buy a property in Al Mahra Resort ?