ADVANCE bookings for phase one of properties at Al Hamra Village in Ras Al Khaimah’s four million sq m exclusive luxury residential and leisure development are exceeding expectations according to the promoters, Better Homes.
The new development has already seen 75 per cent of phase one sold. Many buyers are from Europe as well as from the Gulf region. Phase one comprised 200 villas and 320 apartments with prices from Dh209,000 to Dh1.67 million.
The developers of the project have entered into an agreement with HSBC to provide mortgage facilities of up to 60 per cent of the list price to individual buyers and a number of other financial institutions have also shown interest in the project.
Al Hamra Village is a brand new development under the patronage of Crown Prince HH Saud Bin Saqr Al Qassimi and is scheduled for completion at end 2006. It will provide a luxurious environment set around a natural lagoon and island.
Properties in the phase two of the project are about to be released and will consist of 200 villas and 180 apartment as well as 50 duplexes.
“Ras Al Khaimah offers 64 km of virtually untouched coastline and is arguably one of the most scenic emirates of the UAE. Al Hamra Village is ideal for people looking to invest in an exclusive seaside resort property set in a landscaped habitat with luxury homes, an 18-hole golf course and a purpose-built marina capable of accommodating 200 boats as well as offering all kinds of water sports and fishing trips,” said Dr Khater Massaad, chief executive officer at Al Hamra Property Development Company.
In addition, the already-established Al Hamra Fort Hotel, which enjoys year-round European clientele will be complemented by two additional luxury five--star properties, due for completion in 2006.
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