Ras Al Khaimah-based developer looks to attract potential buyers to vacant Al Hamra Village units with five-year scheme
Ras Al Khaimah-based property developer Al Hamra Real Estate Development (AHRED) has launched a new scheme for potential home owners that enables them to buy units in its Al Hamra Village development in the northern emirate with low monthly instalment payments.
The developer said in a statement that buyers can own properties in the luxury development with payments starting at AED3,300 ($898.5) per month over a five-year period. The new payment plan is available for a range of property options, including studio, one-, two- and three-bedroom apartments, villas, and townhouses.
Barry Ebrahimy, head of commercial services at AHRED, 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 area, Al Hamra Village is 45 minutes away from Dubai and offers attractive ownership costs across the company portfolio, the statement said. 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 range of international restaurants.
According to AHRED, the development will appeal to buyers seeking attributes ideal for families, a peaceful and stress-free environment, and a slightly slower pace of life with quality entertainment, dining, retail and education options.
Citing the recent Asteco Q3 2016 Dubai Real Estate Report published by the Dubai-based real estate consultancy, AHRED said that average rents in Ras Al Khaimah increased by up to 2% between Q2 and Q3 2016, proving the emirate’s credentials as a value-for-money real estate investment proposition.
“We are very close to 100% occupancy at Al Hamra Village, with only a few units left. This is why we have decided to launch this campaign and help people renting make the transition into home ownership,” Ebrahimy said.
“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.”