• Al Hamra Real Estate Development to showcase expanding Ras Al Khaimah property portfolio to growing number of Kuwaiti investors
• Kuwait home to the world’s fifth highest density of millionaires with 99 out of every 1,000 households
• Kuwaiti citizens represented 59% of the total GCC property ownership 

Dubai UAE, December 5, 2015:  Ras Al Khaimah’s largest real estate developer, Al Hamra Real Estate Development, will be returning to Cityscape Kuwait on 9-11 December 2015, with a special release of villas and apartments from its quality competitively-priced developments to target Kuwait’s high net worth individuals (HNWI).

“Kuwait represents a very important market for AHRED. Investors are well versed in the opportunities the UAE real estate market offers and Kuwaiti investors are well represented for such a small population. We are committed to ensuring Al Hamra’s portfolio of exceptional quality and value-for-money remains front-of-mind in this important market,” said Benoy Kurien, General Manager, Al Hamra Real Estate Development.

According to UAE Ministry of Finance, GCC ownership in the UAE amounted to 11,761 properties in 2012, an increase of 8% over 2011. In total, Kuwaiti citizens represented 59% of the total GCC property ownership that year. Furthermore, research by the Boston Consulting Group in their annual Global Wealth 2015 report revealed Kuwait has the world’s fifth highest density of millionaires with 99 out of every 1,000 households holding private wealth greater than US$1 million. 

Capitalising on the growing number of investors in the country, Al Hamra will be showcasing a special release of park and beach villas from the developers’ most recent high-profile launch, Falcon Island. Launching during the exhibition, Al Hamra will unveil unique, 5 bedroom villas located on the beach. Each villa is complemented by private beach access with prices starting from US$2 million for 5,206sqft. The newly launched spacious 5 bedroom villas located in a vast park setting with amazing interactive fountain views start from US$1.3 million for 4,185sqft. 

The multi-million dollar luxury Falcon Island development, which launched in 2014 and is due to be handed over in December 2017, is an US$272 million, 2.2 million-square-foot island community located within the bay that forms part of the Al Hamra Village masterplan.

The ultra-exclusive freehold community comprises a collection of just 150 luxurious five to eight-bedroom Canal, Beach and Park residences, landscaped green spaces, stunning waterfront views and a signature central canal, giving the development a ‘Venice in the Middle East’ feel. The award-winning Waldorf Astoria is also in close proximity.

“Phase one of the development has now sold out and phase two has been received exceptionally well. As such we have intensified our offering with a special release of properties dedicated to buyers from this market,” added Kurien.

Smart home technology will be a central feature with interior design including high-end furnishings from the UAE’s first-ever Bentley Home Collection and bespoke Italian luxury brands such as Fendi Casa, Kenzo Maison and Alberto Vignatelli’s Heritage Collection. Sustainability will also be a key mandate for the development and remains a key feature of the business strategy for the developer.

“Falcon Island will be LEED Platinum rated. For our residents this translates into a significantly lower carbon footprint and savings on utility bills as well as homes, street lighting, water desalination and cooling benefiting from solar energy which will be prevalent throughout the development,” said Kurien.

The second development under the spotlight at Cityscape Kuwait will be the freehold Bayti Premium Villas, part of a sustainable community of 162 townhouses located within the existing Al Hamra Village.

Set to be handed over in January, the six-bedroom five-bedroom detached villas are priced from US$953,000 and are set around three recreational parks, with the championship golf course, 1.5 kilometre private beach and a 200-berth marina a short stroll away. 

Rounding out the Al Hamra offering is the launch of the Bab Al Bahr studio, one, two and three bedroom apartments and penthouses. Located on the beach and ready for occupancy with a variety of floor plans, prices start from US$107,800 with just a 25% deposit and incorporating an optional two year payment plan with 0% interest, AHRED will guarantee an incredible 18% return over two years.

Visit Al Hamra at Cityscape Kuwait at the Kuwait International Fairgrounds, stand number G20.