Property Prices On The Rise In Al Hamra Village, Ras Al Khaimah As Demand Soars

June 17, 2013 - PRLog -- UAE, June 2013: As the property prices in Dubai and Abu Dhabi rise, Ras Al Khaimah has seen a major growth on property demand and an upright on its prices as well. Demand for luxury resort properties such as Al Hamra Village has risen substantially and the property market crash of 2008, due to global economic crisis, seems to be a thing of the past. Property prices in Ras Al Khaimah have been on a steady rise and last year saw an average of 10% to 12% increase and the demand on investment has accelerated substantially in 2013. First quarter of 2013 has already seen an increase of 16% in apartment prices while larger and higher end villas have surged by over 50%.

"The demand is mostly from local and expatriate end users and investors" said Benoy Kurien General Manager of Al Hamra Real Estate Development.

As prices increase, many investors choose to relocate to Ras Al Khaimah rather than in already well-established but increasingly overcrowded parts of the UAE. The cost of living in Ras Al Khaimah is remarkably lower than in Dubai. A 45 minute drive enables professionals to take advantage of business opportunities, but at the same time, not paying the increased prices Dubai brings.

Mr. Kurien stated, “During the economic crisis, Al Hamra Group was one of the few that continued with the projects and we delivered to clients on the promised deadlines. Today, the community is the most preferred residential choice for investors and has options on affordable yet high end properties for all target groups. With the UAE economy on track to positive growth, we are confident that Al Hamra Village will be one of the most favoured investments.” he added “We see the property market growth in Ras Al Khaimah and Al Hamra Village in particular to be sustainable. Investors are getting great value for their investment”.

Al Hamra Village, the AED 1 Billion development, is a unique development and one of a very few in the UAE that offers both seaside and golf course views in the same community. It has sparked huge interest from across the globe. It is situated at the southern end of Ras Al Khaimah City - a vast 7.1 million square feet expanse that is set around salt water lagoons, an 18 Hole Championship golf course and its very own marina.

There are five hotels and resorts within Al Hamra Village including the all new Waldorf Astoria, a super luxury brand opening its first hotel in the UAE at Al Hamra Village. With the stunning Al Hamra Mall and many restaurants and Spas, residents never have far to go to enjoy all they need in a world class community. Additionally, with the opening of the RAK Sailing Academy, Al Hamra Marina and Yacht Club forms the centre of sailing and yachting within the Arabian Gulf area.

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Al Hamra Real Estate

With the Al Hamra Village being its flagship master planned development, Al Hamra Real Estate Development has established itself as a significant real estate developer in the UAE. The Al Hamra Village is a luxury integrated community which is uniquely located in Ras Al Khaimah on the shores of the Arabian Gulf, approximately 45 minutes from Dubai. The master planned development covers an area of 7.1 million square feet and includes 1.5 kilometers of pristine beaches, 1,089 villas and townhouses, 2,444 residential apartments, 5 resort hotels, an 18 hole golf course, a marina and a shopping mall - all within a fully integrated community. Al Hamra Village offers investors a unique opportunity to purchase freehold property in the emirate.

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Dominic Clerici          

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