UAE-based Al Hamra Real Estate Development has launched a Dhs1bn project in Ras Al Khaimah to capitalise on growing tourism and a recent raft of investor interest in the emirate, Khaleej Times has reported. Falcon Island is the next phase of Al Hamra Village, which covers an area of 7.1 million sq ft and includes 1.5km of beaches, 1,089 villas and townhouses, 2,444 residential apartments, five resort hotels, an 18-hole golf course, a marina and a shopping mall. It will offer 150 five- to eight-bedroom luxury villas and waterfront mansions with private beaches, canals and parks. The construction on the project is set to start in June and is to be completed by December 2016.
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