Sunday, January 15, 2017

Al Hamra unveils new payment plan for luxury properties

UAE-based Al Hamra Real Estate Development (AHRED) has launched a new five-year payment plan on a range of ready-to-move-in luxury properties at its integrated community in the northern emirate of Ras Al Khaimah.

Located in the New Ras Al Khaimah, Al Hamra Village is just 45 minutes away from Dubai, offering attractive ownership costs across the company portfolio.

The development comprises over 4,000 residential units, five luxury hotels, Al Hamra Golf Course, Al Hamra Marina and Yacht Club and Al Hamra Mall, plus a diverse range of international restaurants to choose from.
Under this new scheme, potential buyers can own properties in the luxury development by paying just Dh3,300 ($898) per month over a five-year period, said a statement from AHRED, the largest real estate developer in Ras Al Khaimah.

This compares to Dh55,000 ($14,970) for the annual rent of a studio apartment in Dubai’s Jumeirah Lake Towers; Dh50,000 ($13,609) in Dubai Marina; and Dh70,000 ($19,052) in Jumeirah Beach Residence according to the Asteco Q3 2016 Dubai Real Estate Report.

The report also highlighted a rise in Ras Al Khaimah prices, with average rents increasing by up to two per cent between the second and third quarter in 2016.

The new payment plan, with a range of property options including studio, one-, two- and three-bedroom apartments, villas, and townhouses, will appeal to buyers seeking attributes ideal for families, a peaceful, stress free environment and slightly slower pace of life with quality entertainment, dining, retail and education options, said a top official.

Barry Ebrahimy, the head of commercial services, at AHRED said: "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."

According to him, the pricing scheme has been designed to provide outstanding value for money and the chance to live in one of the most enviable locations in the UAE.

"We are very close to 100 per cent 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," remarked Ebrahimy.

"We are 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," he stated.

"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," he added.-TradeArabia News Service

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