Ras Al Khaimah’s Al Hamra to invest Dh1b to upgrade mixed-use destination
09 March 2022 – Gulf News – www.gulfnews.com
Dubai: The Al Hamra development in Ras Al Khaimah – one of the UAE’s first freehold projects – is setting itself up for a new phase, with plans to spend Dh1 billion on adding new features between 2023-27. The destination will have ‘significant additions’ to its existing real estate and hospitality portfolio and ‘optimisation’ of existing assets.
The five-year campaign will be marked by a “three-pronged approach this year to position itself as the creator of premier lifestyle experiences, quality products, and world-class services in the northern emirate. This is to be achieved by offering branded hospitality options and optimizing the retail experience.
Recently, the Al Hamra Mall was sold to Abu Dhabi’s Aldar Properties.
“Al Hamra continues to assess sound activations to build on the emirate’s status as one of the region’s most livable destinations through a variety of select lifestyle and commercial offerings,” said Benoy Kurien, Group CEO, Al Hamra. “Our five-year strategy is a carefully considered approach to highlight Ras Al Khaimah’s eminent status as a competitive investment and tourism destination, providing viable options for success in the post-pandemic world.”