RAK lifestyle lures investment worth over AED1 billion, 99 nationalities, led by British, German, Indian and Russian investors choose Northern Emirate’s popular Al Hamra Village community as prime investment location and residential destination of choice says leading market developer
Its multicultural community is a hallmark of the popular Al Hamra Village neighborhood in Ras Al Khaimah, as leading market developer AlHamra Real Estate Development reveals in its latest investor nationality statistics for its flagship community.
According to Barry Ebrahimy, Head of Commercial for the company, the established community has welcomed investors from a total of 99 countries since it was first launched in 2003, led by demand from the UK, Germany, India, Russia and the UAE.
“To date, we have seen over AED1 billion invested with British investors accounting for over AED400 million, Germans AED106 million, Indians AED115 million and Russians AED150 million. All of our investor are attracted by the exceptional value Al Hamra and Ras Al Khaimah offers once compared to other neighboring markets in UAE,” he said.
In its latest report, the RAK-based developer shared a full breakdown of its owner-tenant mix, and revealed that 44% of residents hail from the UK and Europe with 20% from the UAE/GCC, 13% from Asia/Oceania and the remaining 23% encompassing MENA, the Americas and Africa.
The top five investors by nationality are the UK (20.73%), Russia (7.25%), India (6.19%) and Germany (5.17%). “We have a true league of nations under our roof with investors from virtually every corner of the globe including Mozambique, Dominican Republic, Fiji and even North Korea,” Ebrahimy said. “We offer the combination of affordable luxury, an inclusive, friendly and secure lifestyle with ample leisure pursuits, retail outlets, excellent schools nearby plus the confidence of a quality product within a mixed-use community. If you compare property prices and rental rates in Ras Al Khaimah against Dubai, for example, there are clear benefits when it comes to Al Hamra’s value proposition,” he added. — SG
