RAK's Al Hamra Village development hits major milestone
The Al Hamra Village development in Ras Al Khaimah continues to generate interest in the property development industry. Phase one of the Falcon Island project has already sold out and Phase two is expected to generate a similar level of interest. Al Hamra Village stretches across 77 million square feet and will feature private residences along with five luxury resorts and other amenities.
Officials have announced that Phase one of the Falcon Island development in Ras Al Khaimah has been completely sold out with Phase two expected generate a similar level of interest following its recent launch at the 2015 Cityscape Global property development conference held in Dubai.
The ultra exclusive Falcon Island is part of the 77 million square feet Al Hamra Village in RAK. The Al Hamra Village project will house over 1000 villas and town homes, 2500 residential apartments, an 18-hole golf course, a marina, a shopping mall and five luxury hotels and resorts including the Waldorf Astoria Ras Al Khaimah, the Hilton Al Hamra Beach and Golf Resort and the Banyan Tree Ras Al Khaimah.
The work on Al Hamra Village first began in 2014 and the project will be completed in December 2017.
RAK has been making waves in the property development industry since announcing the Al Hamra Village project. The addition of five luxury hotels operated by well known brands is also a major coup for RAK's tourism industry as they are likely to attract more travellers to book holidays in RAK once the project is completed.
In 2014 Ras Al Khaimah's tourism industry was bolstered by the addition of new hotels such as the Double Tree Hilton resort and spa on Marjan Island and the Rixos Bab Al Bahr Resort.
Revenues rose by 44 per cent when compared to the previous year. That growth trend has continued in 2015, with a 26 per cent growth recorded for the first quarter of 2015. Continued growth is RAK's tourism sector will be key to reaching Sheikh Saud Bin Saqr Al Qasimi's long term goal of achieving economic diversification in light of the fact that RAK, unlike many of its regional peers, lacks significant hydrocarbon reserves.
The local tourism Development Authority is said to be working on a strategy to boost RAK's tourism profile particularly in key source markets such as the UK, Russia, Germany, Saudi Arabia, UAE and Kuwait. Officials recently hosted a two day brand strategy workshop in collaboration with the international creative agency TBWA.
The CEO of Ras Al Khaimah's Tourism Development Authority (TDA) Haitham Mattar hailed the conference as a success stating:
"... this is the first step to defining a clear roadmap and vision for the destination. It has helped us gain clarity about our brand proposition and has given us a focused purpose for Ras Al Khaimah".
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