Benoy Kurien, the Group CEO of Al Hamra, spoke with Al Bayan News, a leading Arabic daily, discussing Ras Al Khaimah's growth as an investment and tourism hub that continues to attract global investors. He credited the Emirate's leadership for fostering a business-friendly environment. Investors will have the opportunity to be part of the thriving social and economic scene in Ras Al Khaimah and enjoy a comfortable living experience in one of the region's most distinguished destinations while benefiting from competitive costs in the emirate.
Kurien emphasized the Group's commitment to a five-year strategy [launched in 2022], including launching a development campaign with significant additions to the real estate and hospitality portfolio. The goal is to enhance existing assets, improve the customer experience, and strengthen the brand's position. He expressed eagerness to maintain leadership in the field and support Ras Al Khaimah's transformation through strategic projects and partnerships with local and international investors in retail, hospitality, leisure, lifestyle, and more, focusing on sustainable growth and supporting the emirate's economic and tourism aspirations.
The Portfolio
As a prominent developer, Al Hamra owns numerous waterfront projects in Ras Al Khaimah, encompassing residential, hospitality, retail, leisure, and entertainment developments. The aim is to offer the finest lifestyle in the region, setting new standards for success and attracting users and investors through a vibrant and distinctive lifestyle that integrates work and modern life.
The Group offers a variety of waterfront or near-waterfront projects, including leisure destinations such as Al Hamra Golf Club and Al Hamra Waterfront, residential projects like Falcon Island, Marina Residences Phase III, and Waldorf Astoria Ras Al Khaimah. Additionally, they boast the region's largest waterfront exhibition center, the Al Hamra International Exhibition and Convention Centre.
Latest Launches and upcoming projects
Falcon Island, an iconic and exclusive island life project, was launched in 2022 to meet the high demand for waterfront residential units. It is scheduled for completion in 2024. The Group is also working on the third phase of Marina Residences, waterfront apartment buildings within the award-winning Al Hamra Village project. Further waterfront residential projects are planned to cater to the growing demand from international investors and those seeking to reside in Ras Al Khaimah.
A new waterfront project is on the horizon for Al Hamra Village, connecting all hotels through a beach promenade to provide a unique experience of entertainment, restaurants, and cafes. Hospitality projects located on the waterfront are set to open later this year. The partnership between Al Hamra and Accor will introduce the Sofitel brand to the emirate, strengthening Al Hamra's position in the hospitality and entertainment industry and elevating the hospitality scene in Ras Al Khaimah.
12-year property residency visa
Al Hamra has also launched the residency and work initiative, offering investors the opportunity to obtain a 12-year residence visa and a work license upon purchasing selected properties. This initiative aligns with Ras Al Khaimah's provision of 100% freehold ownership in free zones for all nationalities, allowing individuals to live and work in the UAE without imposing any taxes. Ras Al Khaimah offers attractive advantages to investors, including efficient licensing, approval processes, and residence visas for investors and their families, making it one of the fastest-growing tourism markets in the MENA region.
Falcon Island - Living Reimagined!
Falcon Island provides an ideal haven for those seeking a luxury island lifestyle. Many buyers invest in Falcon Island as their first home, second home, or seasonal holiday home due to its tranquility and stunning natural beauty. With increasing demand, these luxury homes offer exceptional investment value and promise excellent long-term returns.
Marina Residences Phase 3
The third phase of Marina Residences features 318 waterfront apartments in the heart of Al Hamra Village. This extension of the Marina Residences project, known for its unique location and stunning sea and lagoon views, meets residents' needs.
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