Ras Al Khaimah, United Kingdom (PressExposure) April 19, 2008 -- Select Property, overseas property investment company, is looking to target shrewd investors with its new development, Pacific, which is situated on Al Marjan Island, in the emerging Emirate of Ras Al Khaimah.
A naturally beautiful country, Ras Al Khaimah boasts the longest coastline of all the United Arab Emirates (UAE) and is arguably the most scenic with miles of untouched white sand, lush green landscapes and striking mountain ranges. Add to this impressive property investment benefits including rising rental yields, a projected capital appreciation of over 20% in 2008 and more importantly its close proximity to Dubai (just 45 minutes) it is easy to see how this Emirate is becoming attractive to commuters wanting a beach life or weekend retreat, and to the overseas holiday market alike.
Ras Al Khaimah investment property [http://www.selectproperty.com/invest/ras-al-khaimah/investment-property/pacific/about-pacific/] and luxury housing in the area is available at relatively affordable prices - some 60% cheaper than Dubai comparables. This affordability combined with the ruling Sheikâs commitment to developing the region and attracting inward investment, including existing procedures to sell freehold title ownership, means the area has great potential for capital gains and rental returns. Select Property is also offering 15 year non status payment plans and the security of an escrow account to make the development opportunities even more attractive to prospective buyers.
Pacific on Al Marjan Island is Select Propertyâs first luxury property development and is being constructed jointly with Select Group. The two companies have enjoyed success in the past with Select Property exclusively marketing and selling four off-plan developments for Select Group, including Dubai Marinaâs centrepiece Bay Central, the iconic super tower - The Torch, The Point, and Botanica, the only residential development with a sky garden.
âThis is an incredibly exciting time for Select Property. Pacific is the first of two projects, totaling Â£368million, we are developing on Al Marjan Islandâ, commented Mark Stott, Managing Director, Select Property.
âRas Al Khaimah and in particular Al Marjan Island is the perfect location for our inaugural development, representing fantastic opportunities to multiple profiles of purchasersâ, he continued.
With low starting prices, Pacific is already generating interest, with one and two bedroom apartments, town houses and Gulf Suites also available. Due for completion in June 2011 the new Ras Al Khaimah property development consists of six contemporary, architecturally spectacular buildings, each named after Pacific Islands - the first three to be launched being Samoa, Tonga and Fiji.
The Pacific Ras Al Khaimah apartments are situated in a prime location on Al Marjan island, offering residents private beaches overlooking the clear waters of the Arabian Sea and year-round sunshine. Facilities include 24-hour security, maid service, saunas, steam rooms and Jacuzzis, a glass topped gym and health club. There are also countless dining and shopping facilities, all of which are in keeping with the tone of the island which has an altogether more laid back feel than neighbouring Dubai.
Al Marjan Island is the first man made Island in Ras Al Khaimah. It has been built with best practice learning from successful schemes in neighbouring Emirate Dubai - the first of which, The Palm Jumeriah has witnessed a massive 500% increase in prices since 2002. Al Marjan master developer Rakeen, has incorporated the most environmentally friendly practices during the islands construction using natural rock to attract coral life instead of âhostile dredgingâ. This process positively encourages the formation of natural reef, establishing a long-term aquatic paradise.