UAE’s Al Hamra Group to build first project outside Ras Al Khaimah
Ras Al Khaimah-based Al Hamra Group has acquired a plot of land in Dubai’s Business Bay area, and expects to use the land for commercial or hospitality purposes
Al Hamra Group (AHG) has revealed that it is in the process of planning its first project outside of Ras Al Khaimah.
The UAE-headquartered real estate conglomerate, which is the developer behind RAK’s Al Hamra Village, has acquired a plot of land in Dubai’s Business Bay area.
Benoy Kurien, general manager of AHG, told Construction Week that, while the project is still in its preliminary stages, he expects to use the land for commercial or hospitality purposes.
“This will be our first project outside of RAK,” he said. “We own a plot of land in Dubai’s Business Bay area, and we’re now deciding what to do with it.
“[At this point in time,] we expect to use the land for either a commercial or hospitality project. However, the development is still in its preliminary stages.”
AHG has already conducted best-use and feasibility studies for its Business Bay plot, but Kurien emphasised that further research will be necessary before his team can appoint designers for the project.
While RAK looks set to retain its position as AHG’s primary geographical focus, especially in and around Al Hamra Village, the group’s GM told Construction Week that he is open to opportunities in other localities and sectors, adding that his team is currently mulling the possibility of developments in previously unexplored fields.
“We have lots to work on in the next five years,” said Kurien, in reference to AHG’s ongoing projects. “[However,] we’re also open to other real estate-related opportunities and investments within RAK or even Dubai – maybe in healthcare [or] education.
“Our primary mandate is to develop in RAK but, if there are opportunities that we are comfortable with [elsewhere,] we will definitely look at them,” he added.
To read our full interview with Kurien, including details of AHG’s ongoing projects and strategy for the future, check out issue 665 of Construction Week, which will be published on 2 September, 2017.