- Ras Al Khaimah scoops awards in five categories at FT future cities awards
- Inclusion in awards described as 'enormous credit to the government of RAK'
- Lifestyle, connectivity, cost effectiveness singled out as defining features
Officials at Al Hamra Real Estate Development have praised the government of Ras Al Khaimah following news that the northern emirate has been included in several top 10 future cities awards compiled by world-leading business news outlet, Financial Times.
The pioneering property developer, which has been a major contributor to the growth of the emirate through a mix of residential, hospitality, and retail property developments, extended congratulations to HH Sheikh Saud Bin Saqr Al Qassimi, Ruler of Ras Al Khaimah and supreme council member, for the foresight that has thrust the region into the international spotlight.
"The Financial Times' Global Cities of the Future 2014/15 Awards have been published and we are proud to see Ras Al Khaimah feature in the top cities list in five categories," explained Benoy Kurien, General Manager at Al Hamra Real Estate Development.
Categories include the Top 10 Small and Mid-Sized Cities list for human capital, lifestyle, connectivity, economic potential, cost effectiveness, as well as business friendliness.
"It is an enormous credit to the government of Ras Al Khaimah to have been recognised by such a prestigious awards body, and to be included alongside cities like Geneva and Zurich. We would like to take this opportunity to congratulate the government and His Highness Sheikh Saud bin Saqr Al Qassimi and HH Sheikh Mohammad Bin Saud crown prince of Ras Al Khaimah on this momentous occasion," said Mr Kurien.
As the fastest growing emirate, Ras Al Khaimah has translated economic potential into impressive growth, and with the interest on local properties on the increase, Head of Commercial at Al Hamra Real Estate Development, Barry Ebrahimy, said that Al Hamra Village continues to offer great value for investors looking for opportunities in the United Arab Emirates.
That investment extends beyond financial gains according to Mr Ebrahimy, who points to benchmarks set by Financial Times in determining award criteria. Among the lifestyle considerations, for example, are various quality of life indices; life expectancy, the number of physicians per 1,000 people, and level of tertiary education among those aged between 25 and 64.
In terms of connectivity Mr Ebrahimy said, being just a 45-minute drive from Dubai International Airport, the world's busiest, will no doubt have played an important role in ensuring Ras Al Khaimah ranked favourably on criteria related to the number of airports within 80 kilometres of the city and the number of international destinations served.
Meanwhile, with the United Arab Emirates is already ranked among the top 25 countries by the World Bank for ease of doing business, he said the emergence of RAK Freezone has also brought a new level of cost effectiveness to the city. Criteria and data points in this category include average annual salaries for a variety of skills levels, annual rent for prime 'Grade A' office and industrial space, and the costs associated with establishing a business, registering property, and obtaining construction permits.
Record tourism figures are also said to be indicative of strong performance in economic potential categories, with over 2.1 million people visiting the Emirate in 2014.
"Al Hamra Village has been at the heart of the development of Ras Al Khaimah, and has attracted residents representing 64 nationalities. Occupancy is well over 87 percent and with demand rising, Bayti and Falcon Island properties are being snapped up by buyers who recognise this unique opportunity to combine investment and lifestyle," he said.
To create a shortlist for the fDi's Global Cities of the Future 2014/15, the fDi Intelligence division of the Financial Times collected data using specialist online tools. A list of 130 locations was drawn up and data collected in five categories: human capital and lifestyle, economic potential, connectivity, cost effectiveness, as well as business friendliness.
A sixth category focused on FDI strategy. 
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Al Hamra Real Estate Development
Al Hamra Village is the flagship master planned development of Al Hamra Real Estate Development, which is fast becoming one of the UAEs most significant real estate developers. Al Hamra Village is a luxurious integrated community, located in Ras Al Khaimah on the shores of the Arabian Gulf, offering laidback oceanfront living approximately 45 minutes from Dubai the world's busiest airport. The development covers an area of 77 million square feet and includes 1.5 kilometres of pristine beach, over 1,000 villas and town homes, nearly 2,500 residential apartments, 5 hotels including the legendary Waldorf Astoria, an 18-hole golf course, a marina, and a shopping mall. Al Hamra Village offers investors a unique opportunity to purchase freehold property in the emirate.
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© Press Release 2015
