Al Hamra’s Marina Residences Phase 3 sells out as the Group awards contract for Falcon Island development
26 Apr 2023

Al Hamra, the leading lifestyle developer and investment company in Ras Al Khaimah, announced that its newly launched residential project, Marina Residences Phase 3, has completely sold out. The milestone coincides with progress on the group’s luxury Falcon Island development, with ENERVO Contracting & General Maintenance being awarded the infrastructure works contract.

Reaffirming Al Hamra’s commitment to bringing holistic lifestyle experiences – either by master planning and developing world-class real estate assets or partnering with international operators to Ras Al Khaimah – the milestones reinforce the ever-growing appeal of the Emirate among individual home buyers and investors.

The Marina Residences – Phase 3, an extension of the existing Marina Residences overlooking the Royal Yacht Club of Ras Al Khaimah, in the heart of the award-winning gated community of Al Hamra Village, has completely sold out. As the first off-plan project driven by Al Hamra’s exclusive ‘Live & Work’ package – a limited offer that provides buyers with a 12-year UAE residency visa, a business license, and a partner visa upon a 20 per cent down payment – the development offers a hassle-free opportunity for investors, professionals, and freelancers to live and work in the UAE.

Located in the heart of the company’s flagship, fully integrated residential community, Al Hamra Village, Falcon Island by Al Hamra is an exclusive residential project on twin islands separated by a canal. The group has appointed ENERVO Contracting & General Maintenance as the infrastructure works contractor for this project and the main construction will start upon completion of infrastructure works.

Benoy Kurien, Group CEO of Al Hamra, said: “We are delighted to achieve this very significant milestone for our unique residential offering, The Marina Residences – Phase 3. This is a testament to our commitment towards delivering premier lifestyle experiences to our customers and the ability to draw inward investments from around the world to the emirate of Ras Al Khaimah. This gives us the confidence to launch more projects under our five-year growth plan, as we continue to support the Emirate’s economic growth, tourism strategy, and livability agenda.”

Al Hamra’s strategic five-year growth plan includes diversified ventures and increased investment opportunities across its existing portfolio, with both current and upcoming projects. A pioneer in the country’s real estate industry, Al Hamra has continued to advance its offerings with innovative techniques that have seen Ras Al Khaimah become a leading lifestyle destination in the region.

For more information on The Marina Residences and Falcon Island, please contact the Al Hamra team at communications@alhamra.ae

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