The Orchid

Ras al Kaihmah, United Arab Emirates

The First Group, one of the most prominent developers in Dubai, is now venturing into new territory, Ras al Kaimah, another of the seven United Arab Emirates.  This prestigious UK-based company has just introduced its latest offering, a mixed-use residential and commercial tower to be called The Orchid.   

A peaceful retreat in this bustling city, The Orchid will have 29 stories, including a ground floor showroom and retail stores, five floors of parking, and an expansive swimming pool and sun deck on its rooftop.   In addition to its commercial suites, The Orchid will have 80 residential studio suites and 120 one-bedroom apartments.

The Orchid is located only 15 minutes from the RAK International Airport and less than an hour from the Dubai.  It will be situated in the heart of the financial/commercial center of Ras al Kaimah and will  offer panoramic views of the city, the sea and the creek.

Owners of the condo hotel units (managed apartments) at The Orchid will be able to use their residence for up to four weeks per year and place their home in The First Group’s rental program called Wealthbuilder for the remaining time.  Revenue generated through the Wealthbuilder program can offset the costs of owning a condo hotel residence.

The studio units at The Orchid range from 400 sq. ft. to 530 sq. ft.  Prices start at approximately $150,000.  The one-bedroom condo hotel units range from 660 sq. ft. to 800 sq. ft. and start at approximately $200,000. 

Pricing for the units does not include furniture, however complete furnishing packages are available at reasonable prices, making these residences ready for immediate occupancy upon completion. Construction on The Orchid is scheduled to be complete by late summer/early fall in 2010.

As Dubai has grown in popularity, prices of its condo hotels have risen with demand.  Now, Ras al Kaihmah, an emerging emirate, offers a chance to again invest in the exciting UAE at affordable prices.