UAE-based lifestyle developer and investment firm, Al Hamra, has said that it has successfully sold all the units in Phase Three of its newly-launched Marina Residences, in Ras Al Khaimah.

Marina Residences – Phase Three is said to be an extension of the existing Marina Residences development, and overlooks the Royal Yacht Club of Ras Al Khaimah in the heart of the premium gated community, Al Hamra Village.

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 licence, and a partner visa following a 20% down-payment – the development offers a hassle-free opportunity for investors, professionals, and freelancers to live and work in the UAE, the statement noted.

In late July 2022, Al Hamra announced the roll-out of Phase Two of its Falcon Island residential community and, in early August 2022, the first advisory board meeting for the RAK Energy Summit was held.

Al Hamra Group CEO Benoy Kurien said, “We are delighted to achieve this very significant milestone for our Marina Residences – Phase Three. This is a testament to our commitment towards delivering premier lifestyle experiences to customers and the ability to draw inward investments from around the world to 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.”

The sales milestone also coincides with progress on the group’s luxury Falcon Island development, with Enervo Contracting & General Maintenance now being awarded the infrastructure works contract, the firm noted.

Kurien stated that the main construction is due to start immediately on completion of the infrastructure build.

In late October 2022, Al Hamra launched its Falcon Island – South residential project.