May 9th, 2017 by Own A Space
If you have your heart set on owning a property, you expect to disburse a huge amount of capital, particularly if the house search is carried out in Dubai or any other part of UAE. Real estate is one among the most expensive in the world in this country. The latest report of Core Savills says that Dubai is leading among the top cities that have the costly real estate having an ultra-prime property valued at Dh 44,435 per square meter which is as much as what one is expected to pay to rent a studio every year.
Picture Courtesy: gulfnews.com
As the developer recognizes the importance of promoting an affordable housing, investors find the properties which are less of a burden, financially, which is good news. A budget friendly option is being developed and it’s already selling fast when compared to others.
Ras Al Khaimah’s own adaptation of Dubai’s Palm Jumeirah, situated on Al Marjan Island, the pacific residential apartments has 1,440 waterfront developments spread over 6 buildings, few of which have studio units being sold for as affordable as Dh 350,000 (around 94,500).
Many of these properties allow uninterrupted views of the gulf and residents have to access to a private beach, tennis courts and rooftop swimming pools. A British owned spokesperson for the select property who is the developer of the project said that the units in Al Marjan are sold out already by 85%.
Customers purchasing homes who invested Dh1.1 billion in this project can look ahead for the delivery of the first phase of units in the second quarter of this year. Select properties have released the final phase of sales in the project which involves an assortment of top floor units. This was said by the company in an email.
Picture Courtesy: tripadvisor.com
Investors that haven’t got their hands on this project still have time to catch some of the affordable units that are left. Buyers who are interested need to pay 10% deposit, 40% on the completion and remaining 50% over the next 12 months to be paid every quarter. Pacific is situated on the tip of man-made Al Marjan Island located in Ras Al Khaimah which is less than an hour;s drive from the international airport of Dubai.
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