Sunday, July 11, 2010

Dh 711mn island at Ras Al Khaima placed for sale

An island located in the Al Hamra Village of Ras Al Khaimah has been placed on sale for Dh.711million.

The island, covering 2.37mn square feet of space, is located at the centre of the village. The buyer will have to pay 40 to 50 percent of the price upfront. The rest will have to be paid within three years in quarterly instalments, said Dr. Ayoob Al Faraj, General Manager, Al Hamra Real Estate.

The company has already received three serious bidders, but they are still open to negotiations. The island has good infrastructure and is one of the best around, Al Faraj said.

Situated along the southern end of Ras Al Khaimah, the city is surrounded by salt water lagoons, a marina and a golf course.

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