Introduction
The government is in the process of developing Ras al-Khaimah as a manufacturing, commercial and recreational centre through policies aimed at promoting the country internationally. (PriceWaterhouseCoopers)
La Hoya Business Village
La Hoya Bay Business Village is part of the US$800million La Hoya Bay Project consisting of residential and commercial space, overlooking private beaches on the intersection of islands one and two of Al Marjan Island. It is set to complete in 2008. The combination of working and residential environments also means that people can enjoy work and live nearby without long commutes in and out of Dubai.
The residential project was launched in September 2006 and has since triumphed. Due to the limited supply of similar developments, investors have been buying entire floors of the development in record time and are enjoying the profits already.
Following on from this success, the developer is launching the commercial project – La Hoya Bay Business Village. We have negotiated with the developer and received an advance on the commercial project – we are releasing it to our database a mere three days before a worldwide press launch! The developer is selling the rest to the world following the launch period.
There is a shortage of supply and strong demand for office space in northern UAE. With the overcrowding of Dubai, La Hoya Bay is a great opportunity – just 45minutes away from the hustle and bustle of Dubai and with magnificent amenities, tax incentives and a rapidly expanding Free Trade Area.
The developer has paid the government to extend the Free Trade Area to cover La Hoya Bay. The Free Trade Area usually only has leasehold property available but as a bonus, our office space will be 100% freehold.
Our deal consists of around 27,000m2 of office condo space in the smart, modern development. This space is spread over six floors, with each floor holding around 4,500m2. This area can be divided according to the investor’s wishes, with office sizes starting from 50m2 and are available in larger sizes at 25m2 increments.
There is a wide array of services and facilities onsite. These include luxurious lobby and reception areas, catering, concierge services, conference facilities, copy services, event planning services, state of the art telecommunication systems, videoconferencing facilities and secretarial services to name but a few.
The Ras al-Khaimah government is offering the first 500 investors free business licences. Given that such licences can involve deposits of over AEU5million (US$1.35million), this is a magnificent incentive.
To buy into this development, you need to set up an offshore company – but we are offering this FREE to our investors. This gives you an additional saving of US$784!
Prices average at US$2,449 per m2 (~£1,225).
If you bought an average size office of 100m2, your purchase price would only be
US$244,900 (~£122,450).
With 10% deposits and 50% loan-to-value financing available in this fast growing market, you could have excellent returns in a short space of time.
When combining the high yields with the leverage of a 50% loan-to-value mortgage, you could potentially pay off your mortgage and your interest in 31/2 years!
About the developer
Khoie Group is an amalgamation of several companies built over three decades with the strong leadership of the CEO Frank Khoie. The company has a solid track record stretching across
the continents.
Currently, the company’s property arm is targeting the United Arab Emirates and a number of other countries in order to construct and develop high-quality, contemporary property in unique first-class locations such as Al Marjan Island.
Khoie’s niche marketing strategy is clearly reflected and signified in its most recent project, La Hoya Bay, in Ras al-Khaimah.
You can visit their website on www.khoie.com