Al Hamra Real Estate Development has introduced new five year payment plans for units in Al Hamra Village.
Prices for properties in the Ras Al Khaimah development start at AED 3,300 per month, payable over five years.
According to the developer, 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.
The new payment plan covers a range of properties, including studios; one, two and three bedroom apartments, villas and townhouses.
“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,” said Barry Ebrahimy, head of commercial services, Al Hamra Real Estate Development. “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.”
Al Hamra Village is located on the outskirts of Ras Al Khaimah emirate and comprises around 4,000 residential units, five luxury hotels, Al Hamra Golf Course, Al Hamra Marina and Yacht Club and Al Hamra Mall. It is 45-60 minutes drive from Dubai, depending on traffic conditions.
“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,” said Ebrahimy.
“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.”