Al Hamra Real Estate Development to showcase
Ras Al Khaimah property portfolio as investors recognise quality-value dynamic
of emirate’s residential projects
Ras Al Khaimah’s
largest real estate developer Al Hamra Real Estate Development will return to
Cityscape Global in Dubai on 8-10 September 2015, following a
strong Q2 2015 performance for the emirate’s real estate sector, witnessing
consistent sales demand for its high profile projects and robust occupancy and
rental rates for its quality competitively-priced villas and townhouses.
According to the Asteco Northern Emirates Q2 2015 real
estate report, Ras Al Khaimah (RAK) was the Northern Emirates’ ‘success story’,
with established communities such as Al Hamra Village by Al Hamra Real Estate
Development continuing to attract strong investor and tenant interest.
Asteco research found that on average, two-bedroom
homes in RAK were being rented for between AED 50,000 and AED 65,000 while
three-bedroom residences, were being leased for between AED 85,000 to AED
130,000. A three-bedroom villa with golf course views also sold for an
extremely competitive AED 500 to AED 700 per square foot.
The developers’ most recent high-profile launch,
Falcon Island, is the first product of its kind in RAK, with prices ranging from
AED 1,100 to AED 1,500 per square foot. Highlighting its exceptional
value-for-money, to experience a similar waterfront lifestyle on the Palm Jumeirah,
would cost from AED 1,600 to AED 3,500 per square foot, according to the latest
Asteco research.
“The take-up of existing stock at Al Hamra Village has
been excellent with occupancy levels at almost 100%. We are marketing three-bedroom
villas for under AED 2 million, which underscores our exceptional value-for-money
and the sustainable rental rate increases we have achieved also maintains our
competitive edge,” said Benoy Kurien, General
Manager, Al Hamra Real Estate Development.
The multi-million dollar luxury
Falcon Island development, which launched in 2014 and is due to be handed over
in December 2017, is an AED 1 billion, 2.2 million-square-foot island community
located within the natural lagoon that forms part of the
Al Hamra Village complex.
The ultra-exclusive
freehold community comprises a collection of just 150 luxurious five to
eight-bedroom Canal, Beach and Park residences, complemented by private beach
access, landscaped green spaces, stunning waterfront views and a signature
central canal, giving the development a ‘Venice in the Middle East’ feel.
“Phase
one of Falcon Island has sold out and we are now launching phase two at
Cityscape which will include the exclusive beach and canal villas priced
competitively from AED 5.7 million,” added Kurien.
Smart
home technology will be a central feature with interior design including
high-end furnishings from the UAE’s first-ever Bentley Home Collection and
bespoke Italian luxury brands such as Fendi Casa, Kenzo Maison and Alberto
Vignatelli’s Heritage Collection.
“Falcon
Island will bring a new level of luxury real estate to the emirate and
customisation is at the heart of this exclusive community with investors able
to create their own tailor-made property using our homebuilder app which allows
them to select the number of rooms, secondary finishes, landscaping, pools and
more.” said Kurien.
“Added
to this is our mandate to put sustainability at the heart of our business
strategy, Falcon Island will be LEED Platinum rated, which, for our residents
will not only translate into a significantly lower carbon footprint, they will
make savings on their utility bills, with homes, street lighting,
water desalination and cooling benefiting from solar energy,” he added.
The second development
under the spotlight at Cityscape Global will be the freehold Bayti development,
a sustainable community of 162 townhouses located within
the existing Al Hamra Village.
Set to be handed over in
November this year, the spacious three and four-bedroom townhouses are priced
from AED 1.89 million and are set amidst three parks, with the championship golf
course, 1.5 kilometre private beach and a 200-berth marina a short stroll away.
Visit Al Hamra at Cityscape
Global in Trade Centre Arena, stand number SAQ10