Royal Breeze Al Hamra RAK
#1
Just Joined

Thread Starter
Joined: Nov 2008
Posts: 25


Hello all
Hope somebody can help.
We have a property at Royal Breeze in RAK (at the Al Hamra Village).
Conveniently for us, the sale and purchase agreement was never deposited with the bank so the bank has not released the majority of the funds. We now have the following choice:
1. Deposit the agreement and the bank would release funds to developer; or
2. Redeem the mortgage (just pay a small amount and of course loose deposit etc - approx 60,000).
My heart is telling me to go for the redemption route, but not entirely sure.
I really can't see prices creeping up here for at least another 5 years or so, unless someone has insight re RAK we don't know about?
Honestly, any help appreciated. To conclude, should we deal with some pain now and avoid a hemorrhage in the future?
Hope somebody can help.
We have a property at Royal Breeze in RAK (at the Al Hamra Village).
Conveniently for us, the sale and purchase agreement was never deposited with the bank so the bank has not released the majority of the funds. We now have the following choice:
1. Deposit the agreement and the bank would release funds to developer; or
2. Redeem the mortgage (just pay a small amount and of course loose deposit etc - approx 60,000).
My heart is telling me to go for the redemption route, but not entirely sure.
I really can't see prices creeping up here for at least another 5 years or so, unless someone has insight re RAK we don't know about?
Honestly, any help appreciated. To conclude, should we deal with some pain now and avoid a hemorrhage in the future?


#2
Just Joined
Joined: Mar 2011
Posts: 1


It is now March 2011, did you get your apartment sorted out? We have paid 45% on two in the Royal Breeze complex, should have been completed by last June, reluctant to pay the balance when finally finished and can get no replies from the developer. Any information you can provide would be gratefully received.

#3

for what it's worth I really rate Al Hamra, I think it's a good location for us Dubain's to get away too. However I don't think you will make in terms of investment.

#4
Just Joined
Joined: Jul 2011
Posts: 1


Hi
We purchased a Type C Villa Town House (2 bedroom) - A very good location, in 2007 and since then, the financial market down turn has had a massive impact. We brought the property for AED 945,000 and have paid 47% and 53% left to pay on completion which will be this year.
Eitherway we will not be proceeding with completion (due to personal circumstances ie my job redundancy and welcome any offers from any potential investors.
We purchased a Type C Villa Town House (2 bedroom) - A very good location, in 2007 and since then, the financial market down turn has had a massive impact. We brought the property for AED 945,000 and have paid 47% and 53% left to pay on completion which will be this year.
Eitherway we will not be proceeding with completion (due to personal circumstances ie my job redundancy and welcome any offers from any potential investors.

#5

Hi
We purchased a Type C Villa Town House (2 bedroom) - A very good location, in 2007 and since then, the financial market down turn has had a massive impact. We brought the property for AED 945,000 and have paid 47% and 53% left to pay on completion which will be this year.
Eitherway we will not be proceeding with completion (due to personal circumstances ie my job redundancy and welcome any offers from any potential investors.
We purchased a Type C Villa Town House (2 bedroom) - A very good location, in 2007 and since then, the financial market down turn has had a massive impact. We brought the property for AED 945,000 and have paid 47% and 53% left to pay on completion which will be this year.
Eitherway we will not be proceeding with completion (due to personal circumstances ie my job redundancy and welcome any offers from any potential investors.
If you are after a 'negative premium' as it nicely called here then I'll start my bid at 450k.

It is sometimes best just to walk away.


#6
Just Joined
Joined: Aug 2011
Posts: 1


I purchased a 2-bed apartment in RB1 and the completion date is looming. I used to follow developments on EyeOnWorldwide but now this website seems to be unavailable.
Does anyone know a good replacement forum? I'm keen to get a sense of what other investors are doing who are in a similar position to me.
Does anyone know a good replacement forum? I'm keen to get a sense of what other investors are doing who are in a similar position to me.

#7

I purchased a 2-bed apartment in RB1 and the completion date is looming. I used to follow developments on EyeOnWorldwide but now this website seems to be unavailable.
Does anyone know a good replacement forum? I'm keen to get a sense of what other investors are doing who are in a similar position to me.
Does anyone know a good replacement forum? I'm keen to get a sense of what other investors are doing who are in a similar position to me.

#8
Forum Regular


Joined: Jun 2007
Posts: 57









Hi there, my friend is looking to buy a two bed villa in this area as they are starting around 650k - has anyone bought there? any info would be great thanks

#9
Forum Regular


Joined: Sep 2011
Posts: 99


Guys
anyone got any update from Al-Hamra recently?
anyone got any update from Al-Hamra recently?

#10
Just Joined
Joined: Sep 2011
Posts: 7


Hello
Yesterday I recieved in the post a completion and handover letter from Al-Hamra. It stated that the handover will take place between the 15th October 11 - 14 November 2011.
On my Customers Statement of Account it appears that I am going to be charged a penalty of 104,662.13 dhs. I am not sure what this is or why I am being charged for it.
Yesterday I recieved in the post a completion and handover letter from Al-Hamra. It stated that the handover will take place between the 15th October 11 - 14 November 2011.
On my Customers Statement of Account it appears that I am going to be charged a penalty of 104,662.13 dhs. I am not sure what this is or why I am being charged for it.

#11

Hello
Yesterday I recieved in the post a completion and handover letter from Al-Hamra. It stated that the handover will take place between the 15th October 11 - 14 November 2011.
On my Customers Statement of Account it appears that I am going to be charged a penalty of 104,662.13 dhs. I am not sure what this is or why I am being charged for it.
Yesterday I recieved in the post a completion and handover letter from Al-Hamra. It stated that the handover will take place between the 15th October 11 - 14 November 2011.
On my Customers Statement of Account it appears that I am going to be charged a penalty of 104,662.13 dhs. I am not sure what this is or why I am being charged for it.

#12

Hello
Yesterday I recieved in the post a completion and handover letter from Al-Hamra. It stated that the handover will take place between the 15th October 11 - 14 November 2011.
On my Customers Statement of Account it appears that I am going to be charged a penalty of 104,662.13 dhs. I am not sure what this is or why I am being charged for it.
Yesterday I recieved in the post a completion and handover letter from Al-Hamra. It stated that the handover will take place between the 15th October 11 - 14 November 2011.
On my Customers Statement of Account it appears that I am going to be charged a penalty of 104,662.13 dhs. I am not sure what this is or why I am being charged for it.

#13
Forum Regular


Joined: Sep 2011
Posts: 99


Hello
Yesterday I recieved in the post a completion and handover letter from Al-Hamra. It stated that the handover will take place between the 15th October 11 - 14 November 2011.
On my Customers Statement of Account it appears that I am going to be charged a penalty of 104,662.13 dhs. I am not sure what this is or why I am being charged for it.
Yesterday I recieved in the post a completion and handover letter from Al-Hamra. It stated that the handover will take place between the 15th October 11 - 14 November 2011.
On my Customers Statement of Account it appears that I am going to be charged a penalty of 104,662.13 dhs. I am not sure what this is or why I am being charged for it.

#15

And I was told the one pool (the other two seemed to be hiding somewhere) is more like a jacuzzi, not what was advertised. On plus side, interior of his place was decent quality.
