The new office will be in Ras Al Khaimah (RAK) currently the second most popular holiday hotspot for visitor numbers in the UAE after Dubai. As such, the new office will provide a full range of property services including holiday rentals.
As part of the launch, the Raine & Horne office in Ras Al Khaimah has partnered with RAK Properties to launch a holiday home offering for properties located on the beautiful waterfront community of Mina Al Arab. RAK Properties is one of the UAE’s leading property development and tourism infrastructure companies.
“Raine & Horne will manage the short-term rentals for apartments and villas in Mina Al Arab. The venture will be branded as Raine & Horne Holiday Homes, Mina Al Arab,” said Mr Sanjay Chimnani, Managing Director, Raine & Horne Dubai.
“With Ras Al Khaimah becoming a tourist hotspot we’re excited at the potential of both tourism and investment in the emirate.”
Solid returns for RAK villas
Villas operating on short-term letting agreements are generating extremely robust 10-13% returns on investments according to Mr Chimnani.
“We currently have opportunities in Malibu, the latest collection of 3 – 6 bedroom villas, starting from AED 1.8 Million (AUD 630,000) on a 10-year payment plan,” he said.
Mr Angus Raine, Executive Chairman of the Raine & Horne Group, is delighted that Raine & Horne Dubai has expanded during a major global pandemic.
“Once we have more blue sky and vaccines start to make a difference, we will refocus on our global expansion plans Middle East and North Africa (MENA) and the Indian sub-continent markets,” Mr Raine said.
Get in touch with Raine & Horne’s team in RAK on [email protected] or call the Ras Al Khaimah offices directly on + 971 058 102 9532.