THE HIGH-RISE MIXED-USE PLOT, AND WHAT IT PERMITS
The site runs to 13,695 square feet on a main road in the city centre at Al Nakheel, and the permission is residential and commercial at G+M+28 — ground, a mezzanine and twenty-eight upper floors — with a floor area ratio of 18. At that ratio the consented gross floor area is 246,510 square feet, which is the owner's figure.
An FAR of 18 on a compact site is the shape of a slender tower: the scheme goes up rather than out, and the efficiency of the floor plate, the core and the parking solution governs what can actually be built and sold. A mezzanine over a ground floor on a main-road frontage is the usual shape of a retail or commercial base beneath residential floors, which is what the mixed permission allows for.
The permitted envelope, the setbacks, the coverage and the parking requirement are confirmed with the Ras Al Khaimah authorities by the buyer's own advisers before the development allowance is priced into an offer. Contact us and we will request the owner's drawings and the approvals he holds alongside the title documents.
THE ADJOINING PLOT — TWO SITES, OR ONE
The plot directly adjacent to this one is also offered. It is 12,578 square feet, carries the same G+M+28 height and the same residential and commercial permission, and is asking AED 20,000,000.
What the adjacency is worth is a design question. A single site takes one core, one basement, one service arrangement and one arrival sequence instead of two, and a wider frontage gives a tower a better plan than two narrow ones can. Terms for taking both are agreed with the owners, and we will put that question to them with you.
OUTRIGHT PURCHASE, OR JOINT VENTURE
The plot is listed for sale outright at AED 25,000,000, and that is the straightforward route: buy the land, take the consent, build the tower.
The owner is also open to a joint venture, and the JV details are confirmed with him directly. The ratio is not quoted upfront because it is set by the feasibility — the scheme, the build cost, the phasing and the sales assumptions behind them — and on a twenty-eight storey building the programme and the cost plan move the split further than the land value does. A ratio agreed before any of that is known is a number agreed in the dark.
If you would rather come to the owner with a scheme and a structure than with a cheque, tell us what you have in mind and we will take it to him with you.
