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 styles furnished chalets and a five-star
beach hotel. It is located to the south of the city's
centre along Ettihad Road, approximately a 40 minutes
drive from the Dubai International Airport.
The hill and island chalets located in The Cove
will be fully furnished and will have either one,
two or three bedrooms, and a private access to the
beach as well as their own terraces. The two and
three bedroom villas will also have their own private
plunge pool. In The Cove complex, no cars are allowed,
and you can only move with golf carts. The Cove
is next to modern daily needs, including golf courses,
shopping centres, supermarkets, international schools
and hospitals.
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 can rent out
his property for 3 years and benefit from guaranteed
returns, and then renew his rental agreement later
on, or sell the property. He can also forgo the
rent returns, and use it as his vacation home all
through out the year. Moreover, the owner also has
the ability to sell the property back to the developer
at the market value.
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