Al Hamra Village

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UAE developer showcases new luxury island properties in Russia

• Al Hamra Real Estate Development attends International Property Shows in Russia
• Luxury Falcon Island mansions and villas take centre stage at shows in Saint Petersburg and Moscow
• UAE offers Russian investors a safe haven and VIP waterfront lifestyle

One of the Middle East’s leading luxury property developers is set to showcase its extraordinary oceanfront properties and world-class amenities to Russian property investors and high-net worth individuals when it makes its debut at the International Property Shows in St Petersburg, and the capital Moscow, early in November.

Al Hamra Real Estate Development, the developer responsible for bringing the first Waldorf Astoria to the United Arab Emirates, is one of a select number of companies to have sheltered from the worst of the last economic crisis, and with assets of US$700 million currently offers one of the safest investment opportunities anywhere in the Gulf.

“In Al Hamra Village, the value of our villas increased on average 22 per cent in 2014. At the same time, while UAE rents in the two main cities of Abu Dhabi and Dubai continue to spiral, we still offer tenants competitive rents which helps boost the demand for rental properties here in Ras Al Khaimah. This mix offers investors the best of both worlds,” said Al Hamra General Manager, Benoy Kurien.

With the addition of 150 luxury homes on the private island that sits at the heart of the community, the appeal of Al Hamra Village is sure to increase. A central feature of this US$272 million development – known as Falcon Island – will be world-leading sustainability features, characterised by the latest smart city technologies that will provide residents with healthier air conditioning and allow home owners to monitor energy consumption.

Falcon Island properties will also combine best-in-class exteriors designed by Italian green architects A++, with the exclusivity of luxury home furnishings that include designs by Bentley Home, Fendi Casa, and Kenzo Maison. These ranges will be provided by Italian furniture masters Clubhouse Italia – Luxury Living and will feature only in select properties.

“The expressions of interest we have received in Falcon Island have been so great that we need to recruit several new staff in order to cope with the demand for these luxury homes. The first offering of limited properties has already been sold , and over 70 per cent of the second batch of properties we released has been sold,” continued Al Hamra General Manager, Benoy Kurien.

“Luxury brands are one of the more obvious attractions among prospective buyers, as is the tranquil, low-key setting that Ras al Khaimah enjoys. But, for commuters, fast and convenient access to major expressways that offer direct links to Dubai, its globally-connected International Airport, and Abu Dhabi are also part of the appeal.”

In addition to its success in developing a robust real estate market almost from scratch, Al Hamra Real Estate Development has also been a catalyst in promoting strong growth in the surrounding economy. As a result, Ras al Khaimah is now growing at a faster rate than the big cities, with 8 per cent growth across the emirate and 30 per cent within the RAK Free Trade Zone Area. Over 7,000 companies have set up operations at the free zone, while the emirate maintains an excellent credit rating in the “A/A-1” long and short-term ratings list of global agencies like Standard & Poor.