• ENERVO Contracting & General Maintenance has been awarded with the infrastructure works contract for Falcon Island, which commenced in March 2023
  • New projects are in the pipeline and will soon be unveiled in line with Al Hamra’s strategic five-year growth plan

Ras Al Khaimah, United Arab Emirates: Al Hamra, the leading lifestyle developer and investment company in Ras Al Khaimah, announced that its newly launched residential project, Marina Residences Phase 3, has completely sold out. The milestone coincides with progress on the group’s luxury Falcon Island development, with ENERVO Contracting & General Maintenance being awarded the infrastructure works contract.

Reaffirming Al Hamra’s commitment to bringing holistic lifestyle experiences – either by master planning and developing world-class real estate assets or partnering with international operators to Ras Al Khaimah – the milestones reinforce the ever-growing appeal of the Emirate among individual home buyers and investors.

The Marina Residences – Phase 3, an extension of the existing Marina Residences overlooking the Royal Yacht Club of Ras Al Khaimah, in the heart of the award-winning gated community of Al Hamra Village, has completely sold out. As the first off-plan project driven by Al Hamra’s exclusive ‘Live & Work’ package – a limited offer that provides buyers with a 12-year UAE residency visa, a business license, and a partner visa upon a 20 per cent down payment – the development offers a hassle-free opportunity for investors, professionals, and freelancers to live and work in the UAE. 

Located in the heart of the company’s flagship, fully integrated residential community, Al Hamra Village, Falcon Island by Al Hamra is an exclusive residential project on twin islands separated by a canal. The group has appointed ENERVO Contracting & General Maintenance as the infrastructure works contractor for this project and the main construction will start upon completion of infrastructure works.

Benoy Kurien, Group CEO of Al Hamra, said: “We are delighted to achieve this very significant milestone for our unique residential offering, The Marina Residences – Phase 3. This is a testament to our commitment towards delivering premier lifestyle experiences to our customers and the ability to draw inward investments from around the world to the emirate of Ras Al Khaimah. This gives us the confidence to launch more projects under our five-year growth plan, as we continue to support the Emirate’s economic growth, tourism strategy, and livability agenda.”

Al Hamra’s strategic five-year growth plan includes diversified ventures and increased investment opportunities across its existing portfolio, with both current and upcoming projects. A pioneer in the country’s real estate industry, Al Hamra has continued to advance its offerings with innovative techniques that have seen Ras Al Khaimah become a leading lifestyle destination in the region.

For more information on The Marina Residences and Falcon Island, please contact the Al Hamra team at communications@alhamra.ae

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About Al Hamra:

Al Hamra is a leading lifestyle development and investment company, based in Ras Al Khaimah, UAE, and has been ranked among the top 50 GCC developers in 2022 by Construction Week Middle East. The company has been instrumental in shaping the Northern Emirate’s real estate and investment landscape across residential, retail, hospitality, leisure, and entertainment since its inception in 2003. In line with Ras Al Khaimah’s vision 2030, Al Hamra unveiled its ambitious five-year roadmap underpinned by a three-pronged approach to deliver premier lifestyle experiences, quality products, and world-class services. The company is committed to supporting Ras Al Khaimah’s transformational journey as one of the foremost investment, business, residential, and tourism destinations by driving sustained growth on the back of expanding its existing residential and hospitality portfolios while also optimizing retail and investing in value-added services.

Located just 45 mins away from Dubai International airport, and the free-trade zone, Al Hamra entails entities such as the multi-award-winning Al Hamra Village, Al Hamra Golf Club, Royal Yacht Club of Ras Al Khaimah, and Manar Mall in addition to its upcoming ground-breaking residential project – Falcon Island – which will surpass all previous developments in the Emirate. The group also owns iconic hospitality assets such as Waldorf Astoria Ras Al Khaimah, The Ritz-Carlton Ras Al Khaimah Al Hamra Beach, Al Hamra Residences, and Al Hamra Village Hotel managed by Deutsche Hospitality as well as the upcoming Sofitel Ras Al Khaimah Beach Resort. Al Hamra aims to enhance the destination appeal of Ras Al Khaimah while driving regional and global partnerships that create exceptional value for customers, visitors, and investors alike. Follow Al Hamra on Instagram, Twitter, Facebook, and LinkedIn for more updates.

About Ras Al Khaimah:

Ras Al Khaimah (RAK) is the northernmost of the seven Emirates that make up the United Arab Emirates. It is known for its rich history, dating back 7,000 years, and diverse landscape, from 64km of pristine beaches, to terracotta deserts and an imposing mountain backdrop. The Emirate is home to the highest peak in the UAE, Jebel Jais, which features the world’s longest zip line, at almost 3km.

RAK is also centrally located at the modern crossroad between Europe, Asia, and Africa, with one third of the world’s population within four hour’s flying time, making it an ideal location for businesses to expand into the UAE, the Middle East and Africa and beyond. Indeed, the World Bank’s Doing Business report ranks RAK 30th out of 190 economies for ease of doing business.

At the Emirate's economic heart lies multiple major companies and diverse sectoral interests, including manufacturing and tourism. Major companies include RAK Ceramics, RAKBANK, Julphar Pharmaceuticals, RAK Ports, RAK Rock, Stevin Rock, RAK Economic Zone, RAK Gas. Supporting these industries is a modern infrastructure, state-of-the-art industrial areas and business parks and world-class hotels, facilities, and attractions for tourists.

For the past decade, RAK has been consistently rated ‘A’ by Fitch and Standard & Poor’s rating agencies and already the Emirate is home to more than 38,000 businesses from 100 countries representing over 50 industries. RAK Courts is also the fastest court in the world at enforcing contracts in commercial disputes.

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