Freehold Development in Ras Al Khaimah Expands

Al Hamra Village in Ras Al Khaimah, the emirate's first freehold development, is expanding with the launch of Al Hamra Greens and Aila Homes. Prices start at Dh1.2 million and Dh2.9 million, respectively. This expansion capitalizes on the sustained growth of RAK's freehold market, which has been strong for four years, benefiting from the post-COVID real estate boom. Al Hamra previously offered investor incentives like multi-year residency visas, similar to the later Golden Visa program.

The Al Hamra Greens development, inspired by Scandinavian design, will feature 1,754 apartments with 1- to 3-bedroom layouts and is located opposite the RAK Central mixed-use development. According to Al Hamra's Group CEO, Benoy Kurien, these launches cater to the increasing demand for nature-focused lifestyles and represent a significant step in Al Hamra's growth. The developer is also venturing into ultra-luxury projects with Waldorf Astoria Residences and The Ritz-Carlton Residences.

Adding to its portfolio, Al Hamra plans to launch its first project in Dubai, following the trend of other developers expanding into the emirate. The Ras Al Khaimah market is also influenced by the upcoming Wynn Resorts project, set to open in 2027, which will introduce extensive hospitality and casino experiences.