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Rare chance to purchase a brand new one bed, beachfront apartment on one of the most exciting and unique projects, just 40 minutes drive from central Dubai, offering short term rentals between 10 and 15 percent and long term rentals up to 8 percent. Studios start from just AED 355,000 and one beds start from AED 565,000. Tenants have already started moving in, meaning return on investment is immediate.
Located on Al Marjan Island, a man made island stretching out into the open ocean. The island boasts amazing views and beaches and is now gaining a significant amount of international interest. It is already home to several 5* hotels and sold out residences. This development is going to provide much needed residential property but also a high demand from tourists.
This is the most modern and well-designed quality residence in the area, combined with low running costs its makes this the most popular beachfront property with many ex-pats working in and around RAK, with many people commuting to Dubai daily as they choose to live in the laid back vibe of RAK.
It is also a perfect short-term rental property or holiday home for overseas residents. The hotels in RAK are full to capacity most weekends with ex-pats from around the UAE and the rest of the GCC looking for a weekend beach retreat and an escape from the busy city lifestyle. RAK has a great atmosphere and is the most relaxed and friendliest Emirate, offering Tax-Free alcohol and no need for an alcohol licence.
Renting your property here is easy. There are plenty of companies who fully manage properties while you are not in residence enabling you to receive an income all year round via Airbnb, Booking.com and local short-term rental portals. Currently rents for studios are running at AED 27,000 per year, one bed at AED 38,000 and two beds between 50k and 80k per year
In addition to getting high rental yields, you will also benefit from fantastic capital appreciation as the island matures over the coming years.
Investor Friendly Payment Plans
1.Fully Paid on Handover
10% due on signing the reservation form
90% + 4% Land department fee due on signing of the SPA
A handover appointment can be booked as soon as the SPA is signed and full payment has been made.
Post Completion Payment Plan
40% due on signing of the SPA
50% divided equally over 4 quarterly instalments
4% Land department fee when property is fully paid
A handover appointment can be booked as soon as the SPA is signed and 50% has been paid.
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