The Cove is
a beachfront property being built as the second
freehold development project in the city of Ras
Al Khaimah. The AED 221 million (US$ 60.5 million)
beach resort will cover 50 acres and contain 134
Nubian style furnished chalets and a five-star beach
hotel. It is located to the south of the city's
center along Ettihad Road, approximately a 40 minute
drive from the Dubai International Airport.
The hill and island chalets located
in The Cove will either be 1, 2 or 3 bedrooms and
will have private access to the beach and have their
own terraces. The two and three bedroom villas will
also have their own private plunge pool.
The unique investment opportunity
of The Cove is meant for individuals who would like
to have a holiday home, which they visit for 4 weeks
of the year, and the remaining 11 months would have
a guaranteed 7% net return per annum. The owner
also has the ability to sell the property back to
the developer at the market value.
Expected Completion Date
- Summer 2007 Real Estate Developer - Orascom Hotels and
Development (OHD) Location - Ras Al Khaimah, United Arab Emirates