'Venice in the Middle East': A work in progress in RAK

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Venice in the Middle East: A work in progress in RAK
Benoy Kurien

Dubai - Al Hamra Real Estate Development will return to Cityscape Global in Dubai from September 8 to 10.

By Staff Report

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Published: Mon 31 Aug 2015, 12:00 AM

Last updated: Mon 31 Aug 2015, 8:56 AM

Ras Al Khaimah's largest real estate developer Al Hamra Real Estate Development will return to Cityscape Global in Dubai from September 8 to 10.
The developer enjoyed a strong performance in Q2 2015, with consistent sales demand for its projects, and robust occupancy and rents for its villas and townhouses.
The developers' most recent launch, Falcon Island, offers prices ranging from Dh1,100 to Dh1,500 per square foot. A similar waterfront unit on the Palm Jumeirah in Dubai would cost between Dh1,600 to Dh3,500 per square foot, according to Asteco research.
"The take-up of existing stock at Al Hamra Village has been excellent, with occupancy levels at almost 100 per cent. We are marketing three-bedroom villas for under Dh2 million, which underscores our exceptional value for money," said Benoy Kurien, general manager, Al Hamra Real Estate Development.
The multi-million dollar luxury Falcon Island development, launched in 2014 and due to be handed over in December 2017, is a Dh1 billion, 2.2 million square foot island community located within the natural lagoon that forms part of the Al Hamra Village complex.
The freehold community comprises 150 luxurious five to eight-bedroom canal, beach and park residences, complemented by private beach access, landscaped spaces, waterfront views and a central canal, giving the development a 'Venice in the Middle East' feel.
"Phase one of Falcon Island has sold out and we are now launching phase two at Cityscape. This phase will include the exclusive beach and canal villas priced from Dh5.7 million," added Kurien.
Smart home technology will be a central feature, with interior design from the UAE's first-ever Bentley Home Collection and bespoke Italian luxury brands such as Fendi Casa, Kenzo Maison and Alberto Vignatelli's Heritage Collection.
"Customisation is at the heart of this community, with investors able to create their own tailor-made property using our homebuilder app which allows them to select the number of rooms, secondary finishes, landscaping, pools and more," said Kurien.
"Added to this is our mandate to put sustainability at the heart of our business strategy, Falcon Island will be Leed platinum rated, which, for our residents will not only translate into a significantly lower carbon footprint, they will also make savings on their utility bills, with homes, street lighting, water desalination and cooling benefiting from solar energy," he added.
The second development to be marketed at Cityscape Global will be the freehold Bayti development, a sustainable community of 162 townhouses located within Al Hamra Village.
- business@khaleejtimes.com

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