Approved Commercial Residential Land Plot For Sale

Summary: - 10,100 sq. ft / 938 sq. meters - Commercial / Residential Activity Approved - New 99 Year Lease Upon Completion - Payment Plan & Terms Negotiable Location: This land is located in a high demand residential and commercial area in the city of Ras Al Khaimah. Less than two hundred meters from Manar Mall, the newest and largest mall in the city. It is also in close proximity to hubs such as Julphar Tower, Economic Department and by busy interchanges within the road network. Investment Opportunity The land plot, given its location within a high demand area in terms or property rental and sales, presents a serious investment opportunity. An idea scenario would be the construction of a building that combines offices, retail and residential. Demand Demand for housing in this area is high. The population of Ras Al Khaimah is growing every year as it continues to be recognised as not just a great place to live and work, but a great place to invest and conduct business. Improving infrastructure and mass real estate development across the Emirate are driving factors of the growth. Land Use The land is approved for commercial and residential use. Several investment strategies can be considered, such as the construction of a mixed-use building in fitting with the area, approximately G+4, including commercial offerings on the ground floor and potentially office rental space on the first floor. After planning and construction costs an investor should expect to be in profit within three years of completion. Current Average Real Estate Rental Pricing in This Area: 1 BHK Apartment - Rent: 23,500 - 60,000 AED / Buy 500,00 AED 2 BHK Apartment - Rent: 27,500 - 70,000 AED Buy 650,000 AED 3 BHK Apartment - Rent 35,000 - 100,000 AED Buy 850,000 AED + 1000 sq. ft Commercial Space - Rent 55,000 AED 1000 sq. ft Office Space - Rent 45,000 AED To learn more please get in touch directly