Phase two of 12-year UAE residence visa launched

Eudore R. Chand

RAS ALKHAIMAH 22 February 2021: There has been strong investor response for the 12-year residence visa and business licence package offer by Al Hamra, a leading real estate developer, services provider and investment company in the Northern Emirates.

Al Hamra had rolled out the opportunity for investors in partnership with Ras Al Khaimah Economic Zone (Rakez) few months ago. The company received strong interest from the expats in the UAE and MENA region recording the impressive sale of apartments, townhouses and villas in Al Hamra Village and Bab Al Bahr communities. As a result, all the units priced at Dh292,000 have been sold out.

Al Hamra has now launched the phase 2 of the initiative. Located on the Al Marjan Island and Al Hamra village, just 45-minutes from Dubai International Airport, these are the most sought-after communities in Ras Al Khaimah with a mix of over 100 nationalities. Admired for the scenic vistas of the Arabian Gulf, Al Hamra Village and Bab Al Bahr Residences offers direct beach access and have world-class community gyms, swimming pools for children and adults, supermarkets, pharmacies, and beauty salons.

Al Hamra Village is a fully integrated gated community, one of very few in the UAE, with a championship golf club, marina and yacht club and a shopping mall alongside waterfront walkways.

Bab Al Bahr Residences also offers a three-kms long jogging and cycling track on Al Marjan Island, alongside beautiful sea views, a corniche and promenade, a waterfront tennis court and family picnic areas.

Benoy Kurien, Group CEO of Al Hamra, said: “We are delighted to see such positive response from the investors around the world who chose the Emirate as their preferred destination for living and doing business. Ras Al Khaimah is the first Emirate to be certified as safe by WTTC, with record number of people taking advantage of living in less populated and more affordable communities, where they can be close to nature as well as benefit from world class amenities and facilities. Al Hamra’s products and initiatives have always been customer centric. The pandemic has presented us a new opportunity to evaluate our offerings and redesign our products to meet the changing demands of our customers. The ‘Live & Work’ initiative by Al Hamra is a great example of this exercise.”

Payment Plans

An apartment in the picturesque gated communities in Ras Al Khaimah starts at Dh400,000. Investors can also make the payment over a five-year period with a 20 per cent upfront payment of the total value. The freehold home will be 100 per cent owned by the investor.

Al Hamra’s package is also best-suited for investors seeking to set up business in the UAE, while enjoying living in a fully owned home. In addition to the 12-year residence visa, investors enjoy incentives and benefits including a free business licence to undertake any of the hundreds of business activities offered by Rakez, an additional partner visa and a flexi-desk with modern amenities to conduct business seamlessly.

Investors who choose to set up a business in Ras Al Khaimah can take advantage of low cost of resources, modern infrastructure, and state-of-the-art facilities. Furthermore, they 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.

The offer will also assure long-term return on investment with an average internal rate of return at Al Hamra estimated at up to 8 per cent annually. Investors also benefit from high rental values with Bab Al Bahr being one of the in-demand residential communities renowned for its amenities, bigger layouts, competitive service and utility charges and an uninterrupted access to the pristine white sandy beaches of the Arabian Gulf.

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. The Gulf Tourism Capital award is a testament to Ras Al Khaimah’s early and sustained action to curb the spread of the Covid-19 pandemic, resulting in global recognition as a safe destination for travel and tourism.

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