RAK Al-Hamra property development investment question

[crazy_pilot]

Anyone has a view/opinion on RAK (AL-Hamra) development?? I would like to make a purchase & b4 i part with my hard earned cash, i would like to hear your opinion please!
cheers

[crazy_pilot]

Have i asked the wrong question guys?

[typhoonpilot]

I looked at the latest offering, Royal Breeze, and my conclusion was that there are far better investment choices in Abu Dhabi right now. If it's a place you want to live in then maybe it could make more sense, but that 1 hour+ drive to Dubai will be more like 3 hours in just a few short years.


TP

[ShinjukuHustler]

If you find something you like you need to check our the interior closely. Quality of workmanship is poor, very very poor. Snags list as long as your arm. You need to be careful, if you don't have an eye for such things then call on someone who does to help you. Stupid stuff like tiles dropping off, uneven floor surfaces, door seals that leak rain and dust, prepare to get friendly with the contractor as he will be calling back regularly.

[Two Fox]

Al Hamra

Many rak airways staff are in there, afterall it is the same pot.

I am not RAK airways but bought a place there. Would I do it again? definately not, I think they have run out of money as construction work is now at a very slow pace. Original contractors have been replaced by an in house construction company, check the quality of the build now...it looks shoddy. The sales team promise the earth and once you have paid up forget it, as you will be forgotten by them. Be aware of the smooth talk, it wont be put in writing....The shopping mall was meant to be finished in March but the cable drums have been outside for at least 8 weeks so no movement on the electrics since their delivery. BE VERY AWARE

[BlueSkye]

I won't buy property in the UAE with YOUR money. If you're looking to buy just for the sake of buying rather buy something where, at the end of the mortgage, you get your grubby little paws on the deed. In UAE you will NEVER see the deed, 'cause you don't own the land, ever.

[crazy_pilot]

cheers guys
i was expecting positive comments but there you have it, i guess the responses are more like this forum, you see a lot of negative comments about the ME airlines and yet you see people pouring in to join the boom, guess same can be said about the property market!

[BlueSkye]

It's your money after all. Spend it how you want. But don't come crying...

[neilb767]

Since we re on this topic,

Any of the EY guys got suggestions on where to buy in AUH? Hrydra by the airport seems convienient, but not much around that area at the moment?

Anyone got any other paradise island location worth considering in SE Asia ?

[Saltaire]

Had a look at the "golf chalets" the other day. Interesting to find out that the 1500 or so sq/ft, is really about 900 and change. The garage and terraces are all included in the plan. They are really quite small....also found out that they are not piped for any washer/dryer. She said they are meant for a weekend getaway .....these details were huge red flags for me. I'm sure there are better options elsewhere

[crazy_pilot]

also found out that they are not piped for any washer/dryer,
assume you are referring to kitchen, thats not a good news, can understand if they dont provide washer/dryer, hummm
Anything else i/we should know?

[choclit runway]

Useful thread!

Any positives on buying here? (other than those who bought over 3 years ago and made a killing).

Came v. close to buying off plan in Green Community until the debacle over maintenance fees and the attrocious attitude of the owners/developers! Thank god it happened before we parted with any cash.

Seems such a waste pouring a housing allowance into rent but one has to feel that with the poor finishing and lack of maintenance plans is a big red flag!

CR

[crazy_pilot]

Three weeks ago i made an inquiry and i was sent the plan showing available 2bed bungalows; today i received the latest availability plan but a lot of 2 bed bungalows are marked 'sold', a few still left, i did not expect them to go that fast, specially considering the flaws identified by the some of the members!
Would be interested to hear from members who have invested in the AL Hamra project!

[typhoonpilot]

Any of the EY guys got suggestions on where to buy in AUH? Hrydra by the airport seems convienient, but not much around that area at the moment?

Just look at the floor plans on those Hydras. The rooms are so small you'd be lucky to fit a queen size bed and have room to walk past it. The Al Reef Villas right next door have far bigger room sizes. They are sold out though so now it's secndary market pricing. The Phase ones with a premium are not a bad buy if you are going to be living there, but it's a lot of money up front with the premium.


TP

[ShockWave]

Buying property in the UAE is a gamble, and very much an agravating hassel, how much of one all depends on what, where, when and from whom you buy.
Q. Will you be living there full time, if so will you work in RAK or Dubai? If it is Dubai then spend the morning and afternoon investigating the traffic first.
Q. Do you have kids, if so where are you going to send them to school. Not many options in RAK.

Property on or near the water/marina will usually increase in Value despite the poor quality and service standards.

Q. Do you actually like the thing you are considering buying?
Q. Will you enjoy living there or will it improve your quality of life?
Q. Are you buying from the developer or on the secondry market?
Be very careful buying on the secondry market, prices are very inflated and therefor your risks are higher.

If you are serious about staying long term (many years) then rent is a huge waste of money and you should seriously consider buying a property. However, be prepared for all the problems, there is no escape.

You may actually enjoy what you buy and even make money from it.

Goodluck.

[mud mover]

Well guys, this is mud mover's wife.... (and after all, if the wife isn't happy, it isn't worth it, is it?). Sitting here looking out over the lagoon, across the beach out to sea, seems pretty good to me.

We moved here 4 weeks ago, after 5 yrs in Dubai, coz I just had to escape the city, the stress, the traffic, the beeping horns, the construction, the not being allowed to walk on the beach or the grass with the dogs, the traffic, the construction.....did I mention that already? I'm a country girl and living in RAK is more like living in the country (well ok, you have to use your imagination a bit...). For us, this was a lifestyle choice, not an investment decision, but we have 3 other properties in Dubai, and we're pretty happy with our decision on this one. Yeah the snag list was three pages long, but so was the one at AR and we didn't wait months to get this lot fixed. The team at Al Hamra are more than willing and able to sort out any problems, you can talk to the same person each time you call, coz they're not a huge unwieldy faceless company like Emaar, and they're very flexible, no major hysterics or a 5,000 dirham deposit if you want to make any alterations. The fixtures and fittings are not the most stylish, but is there a wife who hasn't got her own ideas about fixing up the house anyway??

If you're looking at the Royal Breeze golf chalets, well note the word 'chalet'. They're fancy beach huts, not designed to be permanent residences, a bit like The Cove units up the road. If you want a house, wait till the villas on that development are released, or buy an apartment. And remember, that land was sold by Al Hamra to the Royal Breeze developers, so they are not the same people.

So, if you're looking for a better quality of life, where the people are friendly and have time for you, the pace slow, the air quality breathable, the traffic non-existent and the view is stunning, then this is a great place right now. This is not the place for someone who works 9-5 five days a week in Dubai, it's for someone who goes a couple of times a week at irregular hours.

[Itswindyout]

In a Golf apartment at present

I have no complaints as to the quailty of the first phase of Al Hamra developments.
I am sub letting, so this was an intitial build.
I am looking at buying a second phase, town house, and see the original price is 50% of the current asking price. The current off plan prices are almost exactly the same, and with no view, or roof terrace. So in comparative terms good value.
The electrical connection charges are very high, and the delay in internet connections long, and tedious. (etisalat.)
The extra costs associated with the development are the "freehold costs", and the associated cost of a limited company to own the property.
In general the Al Hamra is 40-60% greater cost than any existing villa property in RAK. Granada developments being a datum. (rental only).
The new coastal developments are one-two years away, so if you need accomodation now...too bad.
Yes most of RAK airways live on site, and all property provided free by Dr Potty.
I do not know if any RAK staff are actually buying property on site.
The shopping mall, is an "ongrowing" project, the sub station is being constructed this week, and the cable drums will shortly be rolling.
I am seeking a "retirement" property, in 5 or 6 years times, with good facilities, as well as a good comunity spirit, and hope that the Al Hamra village will satisfy these needs.
I am fortunate not to be in a rush to purchase, so lets see.
windy

[crazy_pilot]

thanks for your input windy, it's helpful to hear from someone who had first hand experience with builder/developer, rather than just pure speculations!
I believe we missed the boat on the first phase, so no roof terrace for us
I guess you can always hope to make that little 'alteration' to the property !

[Plunder Hound]

I'm considering taking a position at the Sharjah airport and was wondering if living in RAK is realistic? I'll have to go into work most days. I'm not much for the city life. Thanks

[mud mover]

If you're only going as far as the Sharjah airport turnoff, you won't hit any traffic problems. An easy 30 min drive.