Dubai: A ‘forest’ set inside a residential community?
Sharjah’s master-developer Arada is doing that with Masaar – a Dh8 billion project and the first big-scale offplan launch in the UAE this year.
A community with mountains in the neighbourhood and a two-minute walk to the beach? That what the developer of Naseem Al Bahar is promising with a brand new project in Fujairah – and which aims to be the northern emirate’s first “sustainable” residential project.
And up in Ras Al Khaihmah, a developer – Al Hamra - is thinking of further add-ons to one of the most prominent destinations the emirate has built over the better part of two decades. And spicing it up by adding a 12-year residency visa on top of a property purchase.
Clearly, these developers in Sharjah, Fujairah and Ras al Khaimah are thinking beyond COVID-19 demand dips and supply surges. Clearly, each developer is bringing a bit of nature into the business of selling brick-and-mortar.
Need for space
“Ras Al Khaimah was the first emirate to be certified as safe by the WTTC (World Travel & Tourism Council,” said Benoy Kurien, Group CEO at Al Hamra, which, incidentally, was also one of the first freehold-designated developments in the UAE. “A record number of people [are] taking advantage of living in less populated and more affordable communities, where they can be close to nature.
“We are witnessing a return in market confidence. We seized this as an opportunity to support the economy’s recovery and in promoting Ras Al Khaimah as one of the leading investment destinations in the region.”
12-year top up
This is when the developer came up with the 12-year residency visa – and a business license - for a new set of homes it was bringing to the market.
“The residency visa offering was always available in Ras Al Khaimah - but investors had to seek approvals through various stakeholders,” the CEO said. “We partnered with Ras Al Khaimah Economic Zone to create an offering with a simplified process where the buyer has a single-window clearance - which is us – and thereby expediting the whole process.
“With this package, we aim to attract entrepreneurs, freelancers, consultants and seniors - anyone looking to live and work in the UAE.
“The pandemic presented us a new opportunity to evaluate our offerings and redesign products to meet changing demands.”
What’s on offer
An apartment at Al Hamra Village starts from Dh292,000, while larger units within the Bab Al Bahr cluster on Al Marjan Island start at Dh400,000. Investors can make the payment over a five-year period after paying 20 per cent upfront.
“Out of almost 4,000 units in Al Hamra Communities, 50 per cent are tenanted and the rest are occupied by owners,” said Kurien. “We are working on a couple of residential projects still in the feasibility and ideation stage. We will be announcing details as and when available.”
Al Hamra has integrated another element that’s proved a success with developers and investors – co-working spaces. “We recognised the need for adding co-working space in the new reality,” the CEO said. “A co-working offering has also been introduced at the Clubhouse.
“We revamped The Sailing Club of Ras Al Khaimah with a new concept and opened it under a brand-new identity - the Clubhouse. Set against the backdrop of the Arabian Sea, the Clubhouse has been transformed into a community hub.”
Nature clearly is playing its part…