FAQs

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. .


What are the Payment Options?

There is 2 payment options:

Option # 1:

3 Instalments as per the following Milestones:

Instalment Milestone Payment (%)
Deposit Immediate 40% (Including: 5% VAT + 4% Registration fees + $1,000 Attestation fees)
1st Instalment  Within 1 year of sale date 30%
2nd Instalment Within 2 year of sale date 30%

Option # 2:

1 full payment with 20% discount on the unit price.


Is my money safe between now and completion ?

RAK Law (Amiri Decree) No.22 of 2008 and No.10 of 2014 protects those investing in off-plan projects. Developers & projects must be registered with The Real Estate Regulatory Administration, known as (RERA-RAK) follows 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. In the event of an emergency whereby the project is not delivered, the Escrow Agent of the project must, after consultation with the governmental authorities, take the required measures to preserve the rights of depositors and ensure that the project is completed, otherwise depositors are refunded their payments (Article 14, Law 22, 2008).

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.

http://www.mun.rak.ae/en/Pages/rera.aspx

You can check there our registration as a developer in the List of Developers as well as the registrations of Al Mahra Resort in the List of Projects and Status and the project escrow account in the List of Escrow Accounts opened.


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 ?

The Project Number is DR/2017/06/8924.


What other costs are there in addition to the price of the unit ?

There is SPA attestation fees of USD 1,000, Registration fees 4% of the sales value and 5% VAT. All these fees are included in the unit price mentioned in this website.


Can I sell my unit before the project is complete ?

Yes. Once you have your Sales & 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.

In the first 3 years of operation we guarantee you the return of 24% with 8% every year.

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 ?

Yes, both residents permit and residence visa are available to property buyers, subject to the approval of government authorities.


Is road access good to and from Al Mahra Resort ?

Yes. Al Mahra Resort is located on Al Murjan Island in RAK and is served by an excellent road network making all areas from all emirates very accessible.

(For more details please refer to the project location map).

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