Ras Al Khaimah’s largest real estate developer, Al Hamra Real Estate Development (AHRED), has launched a new payment plan for its much sought-after Al Hamra Village properties.
Potential buyers can own properties in the luxury development from just AED 3,300 per month over a five-year period.
This compares to AED 55,000 for the annual rent of a studio apartment in Dubai’s Jumeirah Lake Towers, AED 50,000 in Dubai Marina, and AED 70,000 in Jumeirah Beach Residence according to the Asteco Q3 2016 Dubai Real Estate Report. The report also highlighted a rise in Ras Al Khaimah prices, with average rents increasing by up to 2% between Q2 and Q3 in 2016.
The new payment plan, with a range of property options including studio, one, two and three bedroom apartments, villas, and townhouses, will appeal to buyers seeking attributes ideal for families, a peaceful, stress free environment and slightly slower pace of life with quality entertainment, dining, retail and education options.
Barry Ebrahimy, head of commercial services, said: “This is an excellent opportunity for people to own a property in the luxurious Al Hamra Village development, which offers a quality build and a relaxed lifestyle. The pricing scheme is designed to provide outstanding value for money and the chance to live in one of the most enviable locations in the UAE.”
Located in the New Ras Al Khaimah, Al Hamra Village is just 45 minutes away from Dubai, offering attractive ownership costs across the company portfolio. The integrated community comprises over 4,000 residential units, five luxury hotels, Al Hamra Golf Course, Al Hamra Marina and Yacht Club and Al Hamra Mall, plus a diverse range of international restaurants to choose from.
Ebrahimy said: “We are very close to 100% occupancy at Al Hamra Village, with only a few remaining units left, that is why we have decided to launch this campaign and help people renting make the transition into home ownership.
“We’re an attractive proposition for investors, end users and tenants. These are not off-plan or under-construction properties investors will receive after three-to-five years – these properties are ready to move in now. Investors can move in after making the down payment and enjoy the property, while making the regular payments over the next five years, unlike buying off-plan where investors still pay rent while making payments on the new property, therefore saving on this additional expenditure.”