Million Dollar Island Up for sale in Emirates

One of the most centrally located & beautiful island is up for sale at Dh711 million. The 2.37 million square feet island is up for sale in Ras Al Khaimah’s Al Hamra Village which could have earlier fetched Dh1 billion as per revelations by Emirates Business. The island is located at the center of the village and prospective buyers will be expected to pay 40-50 per cent of the amount upfront, while the rest should be paid within three years in quarterly installments.

Interestingly, the Island has the best infrastructure around. This amounts to the fact that Al Hamra Village covers an area of five million sq m and is located to the southern end of Ras Al Khaimah city and is set around salt water lagoons, a golf course and marina.

The master developer will allow a floor area ratio of 1.5 or 330,000.00 sq m of built-up area, with the maximum height allowed being that of seven-storey buildings.

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