UAE-based real estate investment company Al Hamra has rolled out its ‘Live & Work’ initiative in the emirate of Ras Al Khaimah.
The programme allows people to purchase ready-to-move-in homes in the firm’s community villages and receive a 12-year residency visa as well as a business licence, as a result.
The firm currently offers two packages: property units going for AED292,000 or AED400,000 (£77,665, $108,900, €89,834). The former has already sold out, Al Hamra said.
The freehold properties will be 100% owned by the investor, and they could even apply for a five-year payment plan, with 20% of the total value upfront.
The majority of people interested in the scheme are expats in the UAE and Mena region, the firm said.
The programme also includes the opportunity to obtain a partner visa as well as offering a “flexi-desk” for entrepreneurs to conduct business from.
‘Customised solutions’
Benoy Kurien, group chief executive 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 the World Travel & Tourism Council (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.”
Ramy Jallad, group chief executive of Ras Al Khaimah Economic Zone (Rakez), added: “Our focus is to make it a breeze for investors to set up and expand to the region by providing them with customised business solutions as well as helping them settle in Ras Al Khaimah with ease.
“With the ‘Live and Work’ product, we are able to achieve these and seamlessly plug them into the Ras Al Khaimah’s unique ecosystem which comprises of a thriving business community and high-standard way of living, all for a cost that is lower than other major business cities.
“We invite all global investors looking to take a dive into the booming markets across the region and experience first-hand what Rakez and Ras Al Khaimah has to offer.”
This follows Abu Dhabi’s introduction of a series of investor, student and entrepreneur visas to attract global talent to the emirate.
