Sign up to buy a home in Al Hamra Village in Ras Al Khaima, United Arab Emirates (UAE), and here’s what you get: A twelve year residency of U.A.E. and a business licence.
UAE’s real estate major Al Hamra held a roadshow in Pune to attract investors to buy a ready-to-move-in house in Al Hamra Village with a choice of seafront or golf-course view.
An elegantly designed apartment in the picturesque Al Hamra Village starts at less than AED 500,0000 (over INR 97 lakhs). The investors can make the payment over a five-year period. They will have to pay only 20 per cent of the total value – starting at AED 100,000 (just over INR 19 lakh) to get the keys and occupy the apartment.
Just 30 minutes from Dubai International Airport, Al Hamra Village is today one of the most sought-after residential neighbourhoods in the UAE, admired for the scenic vistas by the Arabian Gulf, a Par 72, 18-hole championship golf course, a vibrant marina and yacht club, the Al Hamra Mall, and five world-class luxury hotels.
Al Hamra’s Senior Vice President (Commecial), Barry Ebrahimy told reporters that the company will be able to find a lessee for the property and manage the entire deal on behalf of the owner.
The freehold home will be 100 per cent owned by the investor. Serious investors can fly to Ras Al Khaimah to visit their potential home, with Al Hamra to cover the visit visa, airfare and three-nights accommodation, before they confirm their purchase.
Ebrahimy said the offer will also assure long-term return on investment with an average IRR at Al Hamra estimated at up to 8% annually. They can also benefit from high rental values with Al Hamra being one of the in-demand residential communities renowned for its amenities, low service charges and competitive utility charges compared to any other city in the UAE.
“Investors stand to benefit from 100 per cent ownership of the business, 100 per cent repatriation of capital and profits, no corporate tax and zero personal tax. There will also be no foreign exchange contracts that will reduce any extra costs or uncertainties,” Ebrahimy said.
“Ras Al Khaimah, one of the seven emirates that form the UAE, is today the fastest-growing tourism and investment destination in the country. In addition to its natural beauty, the world’s largest zipline and other historic attractions, Ras Al Khaimah also offers a competitive business environment. Al Hamra Village is a flagship integrated community in Ras Al Khaimah that is highly sought after as a residential and tourism destination,” Benoy Kurien, Group CEO of Al Hamra, said.
