Mubahser: Ras Al Khaimah's new Al Hamra Village neighbourhood welcomed investors from a total of 99 countries since its first launch in 2003, backed by an interest from the UK, Germany, India, Russia and the UAE, according to a statement
“To date, we have seen over AED1 billion invested with British investors accounting for over AED 400 million, Germans AED 106 million, Indians AED 115 million and Russians AED 150 million,” according to Barry Ebrahimy, Head of Commercial for Al Hamra Real Estate Development.
A total of 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 RAK-based developer revealed.
The top five investors by nationality are the UK (20.73%), Russia (7.25%), India (6.19%) and Germany (5.17%).
“Average rental rates at Al Hamra are definitely bucking the overall UAE trend with a studio available for AED 32,000, one beds for a very acceptable AED 48,000, a two-bedroom unit for AED 67,500 and our top end five-bedroom villas at around AED 325,000; all of which represent a compelling value option for tenants,” Ebrahimy noted.
