Al Hamra starts selling waterfront villas at Falcon Island in Ras Al Khaimah

The properties, which start at Dh6.2m, are being positioned as prime investments with flexible payment options being offered

Each home at Al Hamra's development on Falcon Island will have a dedicated charging station for electric cars and buggies. Photo: Al Hamra

Ras Al Khaimah property developer Al Hamra has started selling villas with a sea view as part of the second phase of its Dh1 billion ($272 million) residential project at the Falcon Island mega development in the emirate.

The 127 homes, which start at Dh6.2 million, cater to local and international buyers, the developer said on Wednesday.

Al Hamra is also offering flexible payment options on the units that come with dedicated charging stations for electric cars and buggies, including upfront, post-handover plans.

The second phase villas are a follow-up to the successful launch of the residential project's first phase, in which townhouses starting at Dh1.2m were sold out, reflecting growing interest in the emirate's fast-growing business and tourism sectors.

“The strong international investor response to Phase 1 reflects on the quality of the offering, long-term returns assured by Falcon Island and the popularity of Ras Al Khaimah as a preferred destination for living and holidaying,” said Benoy Kurien, group chief executive of Al Hamra.

“We are confident of a similar response to Phase 2. This ambitious development is part of our strategic five-year road map, from 2023 to 2027, to drive sustained growth through projects in alignment with the vision to establish the emirate as one of the leading investment, business, residential and tourism destinations.”

Ras Al Khaimah, the UAE's northernmost emirate, is heavily promoting tourism — considered as key to the GCC's long-term economic growth — and has unveiled several initiatives to attract visitors.

Earlier this month, the emirate was included in Time magazine's World's Greatest Places of 2022 list, an annual compilation of 50 must-visit global destinations, which praised Ras Al Khaimah's adventure offerings and “stunning geodiversity”.

It is home to Jebel Jais, the UAE's highest peak, and is an attraction for adventurers.

Last year, the Ras Al Khaimah Tourism Development Authority announced a Dh500m investment to develop new attractions at Jebel Jais that will “integrate seamlessly into the mountain ecosystem”.

Among Ras Al Khaimah's other attractions are the 2.8-kilometre Toroverde, the world's longest zip line as certified by Guinness World Records, and Jais Sledder, the region's longest toboggan ride that was opened in February.

Set to open later in 2022 is Jais Wings, the first dedicated paragliding site in the Gulf.

Ras Al Khaimah's hospitality industry is also growing and is expected to benefit from an influx of global visitors as the 2022 Fifa World Cup in Qatar draws closer.

Sustainable accommodation sites are also set to open this year, including pop-up hotel Earth Altitude and glamping site Cloud7 Camp Jebel Jais.

Construction at Al Hamra began in the second quarter of 2022, and is projected to be completed within 24 months to 28 months, Mr Kurien told The National in March.

Al Hamra is taking an eco-friendly approach in developing the community, sticking to the highest standards of energy efficiency, water conversation and pollution control.

These will be accomplished through initiatives such as solar power projects to certified green products and low-emission materials.

Al Hamra also said the project had committed an allocation of up to 70 per cent of the island to open spaces.

The development is also adjacent to a golf course and a five-kilometre corridor with Al Hamra’s hospitality portfolio, and is close to Al Hamra Marina and Yacht Club.

Falcon Island is among the several megaprojects in the UAE that are either under way or already open, which will help to attract more visitors.

Among them are the Sharjah forest community, the National History Museum Abu Dhabi and the recently opened Mohammed bin Rashid Library in Dubai.