Overview

Property Description

In Ras Al Khaimah, Porto Playa is a 10-storey residential development built by Ellington Properties and RAK Properties on Hayat Island, Mina Al Arab. The development consists of studios, one to three bedroom apartments, eight townhouses with two bedrooms, and four villas with three bedrooms. Additionally, a presidential suite with four bedrooms is available. Stunning beachfront and sea views will be available from both the back and sides of the complex. Each residence has a laundry room and one or more balconies for the homeowners' convenience. Property sizes range from 455 to 6,323 square feet. Currently, the minimum price for a 1-bedroom apartment in Porto Playa is AED 1.5M (USD 408K) which includes a service charge of AED 12 (USD 3) per square foot. *Prices are valid for 2023 Porto Playa is scheduled for completion in Q4 2026. While the development is under construction, you can acquire property with a 50/50 payment plan. The down payment is just 5%. You can obtain a 10-year Golden Visa for your spouse, children, and domestic staff if the property you purchase costs AED 2M (USD 545K) or more. At the same time, as of September 2023, Mina Al Arab offers a 6% ROI. The average rental price for a 1-bedroom apartment here is AED 28K (USD 8K). In Q2 2023, the rental cost was AED 24K (USD 6.5K), thus it increased by 16% in Q3 2023. Such strong indicators guarantee a lucrative passive income, which will grow as the area develops.

Location