All of the electricity for homes, street lighting, water desalination and cooling will be generated on the island, which will feature 150 luxury villas and mansions with private beaches.
Sun-powered Falcon Island development launched in Ras Al Khaimah
Aiming to attract many investors from around the world, Al Hamra Real Estate launched its latest flagship project, Falcon Island in Ras Al Khaimah, with Dh1 billion of investments.
The Falcon Island development features 150 villas and waterfront mansions with private beaches, canals and parks.
Construction of the project will start in June, with all properties to be handed over in December 2016.
“It will be our signature development,” said Barry Ebrahimy, the head of sales and marketing at Al Hamra.
“Our target market is buyers from the GCC who are familiar with our development and community. We are targeting buyers from other emirates, KSA, Qatar, Russia and other commonwealth countries,” said Mr Ebrahimy.
Unlike the man-made islands in Dubai, Falcon Island is natural, and each property will have direct access to the Arabian Gulf.
During the project’s launch on Friday, 40 villas were offered of which 25 units were booked, according to Mr Ebrahimy. Prices of the villas start at Dh5.2 million.
The project features 11 mansions built over 1,600 square metres. At the launch three mansions were booked. Prices start from Dh23m.
Built to be environmentally friendly, all of the electricity for homes, street lighting, water desalination and cooling will be generated on-site by solar power.
“We are studying providing the cooling systems of the buildings with solar energy,” said Mr Ebrahimy. “This has not been done anywhere else yet. It will be revolutionary.” He added that there was one project in Saudi Arabia that cools 15 homes with solar energy, but nothing on the scale of 150 homes.
A decade ago, Al Hamra Village, a residential and leisure development that includes a mall, restaurants golf courses and hotels, was built in RAK.
Now, as property prices have surged in Dubai, many people have considered moving to the emirate to enjoy a peaceful lifestyle at a lower price.
RAK is becoming particularly popular among airline pilots, as their unusual working hours make traffic congestion less of a concern. The Emirates Road to Dubai International Airport, a distance or 50km, takes an average of 45 minutes to drive from RAK.
The northern emirate also became attractive after the opening of Hilton’s luxury Waldorf Astoria hotel in August, which brought a number of repeat visitors. Some of those visitors have chosen to buy property in the emirate rather than keep spending money on hotels.
Tourism also remains an important means for drawing people into the emirate.
International hotel chains in RAK, including Banyan Tree, Hilton and Rotana, attracted more than 1 million visitors in recent years.
Property prices in the emirate increased by an average 10 to 15 per cent by the end of 2013 compared with a year earlier, with the improving global economy encouraging people to buy.