Al Hamra Attracts Investors to RAK

Published: 30/03/2010

There has been a positive market reaction to RAK’s Al Hamra Village – the emirate’s latest exclusive residential and leisure development. The project’s promoters ‘Better Homes’ has seen a great deal of advance bookings, a much higher amount than expected. The project’s developers together with HSBC bank have made an agreement to provide mortgage facilities up to 60% of the developer’s list price to individual buyers. Moreover, there are a number of other financial institutions showing interest in the project. Al Hamra Village, set in the south of Ras Al Khamah City, provides luxury and relaxation set around a natural lagoon and island. The village comprises over 1,300 freehold properties; luxury villas, stylish and elegant duplexes, deluxe townhouses and premier apartments. Chief executive officer of Al Hamra Property Development Company Dr. Khater Massaad said of the project “Ras Al Khaimah, with 64 km of virtually untouched coastline, is arguably one of the most scenic emirates in the UAE. Al Hamra Village is ideal for those looking to invest in an exclusive sea-side resort property set in an elegantly landscaped environment with luxury homes, a lush green golf course and a purpose-built marina for water sports and fishing trips” (AMEinfo, 13th Sep 2004).