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Urasaya Property for First Luxury Branded Residence in Nakhon Si Thammarat

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Nakhon Si Thammarat, Thailand, March 29, 2024 / TRAVELINDEX / Nestled directly on Thailand’s gulf coast, Banyan Tree Residences Sichon is a pioneering project that will enable owners to discover the wonders of this authentic and culturally rich destination. Banyan Group, the independent global hospitality company, has announced a new branding partnership with Urasaya Property Co., Ltd, the pioneering real estate developer, as it continues to explore new frontiers and introduce its original style of responsible development in exciting destinations.

The signing of Banyan Tree Residences Sichon, an all-new nature-inspired luxury community set directly on one of Southern Thailand’s finest beaches in Nakhon Si Thammarat province, will enable discerning owners to uncover the wonders of this naturally-beautiful and culturally-rich coastal paradise, while also benefiting from the unparalleled standards and global benefits offered by the Banyan Group including the new rental programme for private residences called Banyan Living.

KP Ho, Executive Chairman of Banyan Tree Holdings, stated: “At Banyan Group, our commitment lies in curating transformative experiences that are both responsible and sustainable. Through our collaboration with Urasaya Property on this exceptional project, we aim to capitalize on a pioneering opportunity in a promising destination and with the luxury branded residence sector in Thailand experiencing robust demand, we are excited to usher in a new era of sustained growth for Nakhon Si Thammarat. Furthermore, we have every confidence that property owners will appreciate and find significant value in the opportunity to enroll in our new specialized extended-stay rental program, known as Banyan Living.”

Ravi Chandran, Executive Director, Urasaya Property, said: “Sichon is a real hidden gem – an ecological and cultural oasis that feels like Southern Thailand 30 years ago, far from the crowds and congestion of Thailand’s well-established beach resorts. The recent opening of a new international terminal at Nakhon Si Thammarat Airport will open up this idyllic region to a wider audience of lifestyle-seeking travellers and create a bright future for the entire area. We would like to thank KP Ho and Banyan Group for sharing our vision.”

At Banyan Tree Residences Sichon, every owner will enjoy complete peace-of-mind, safe in the knowledge that they are supported by the exclusive services of Banyan Group’s signature owner’s programme called the Sanctuary Club which offers all owners unrivalled discounts and privileges throughout the Group’s hotels, restaurants and facilities worldwide whilst every villa may be managed for extended rentals through Banyan Living which manages a portfolio of over 200 units in 10 countries.

Sculpted into 2.5 hectares of prime beachfront land, just 35 minutes’ drive from the newly-expanded Nakhon Si Thammarat International Airport, Banyan Tree Residences Sichon is an exclusive collection of four-bedroom pool villas with open-plan interiors that showcase contemporary design, state-of-the-art amenities and Southern Thai elements, personally crafted by local artists and artisans.

All residents will enjoy personal butler service, use of a private boat, and five-star clubhouse facilities including a seafront pool, a high-tech fitness centre, a soothing spa, a restaurant specialising in local and seasonal cuisine, and a beachside bar which acts as the social heart and soul of the project.

The surrounding area is a haven of sustainable adventure and activity. Sichon was recently named as one of the top 10 beaches in Thailand by Lonely Planet, and nearby Khao Luang National Park is blessed with jungle-clad mountains, hiking trails, waterfalls, caves and an amazing array of flora and fauna. The area’s long, smooth roads are ideal for cycling, and golfers can hop on a speedboat for a short ride to Koh Samui to play golf at Santiburi Country Club – and be home in time for sunset. On the way, visitors may even catch a glimpse of Sichon’s iconic pink dolphins.

Heritage seekers can visit enchanting sites such as Wat Phra Mahatat, Thailand’s oldest temple, while ancient crafts such as batik weaving are kept alive in artisan villages, and a new generation of culinary trailblazers showcase organic produce, including a craft chocolate plantation. Residents can also rub shoulders with local people and purchase fresh herbs, fruit and vegetables at village markets.

About Banyan Group
Banyan Group (“Banyan Tree Holdings Limited” or the “Group” – SGX: B58) is an independent, global hospitality company with purpose. The Group prides itself on its pioneering spirit, design-led experiences and commitment to responsible stewardship. Its extensive portfolio spans over 70 hotels and resorts, over 60 spas and galleries, and 14 branded residences in over 20 countries. Comprising 12 global brands, including the flagship brand Banyan Tree, each distinct yet united under the experiential membership programme with Banyan. The founding ethos of “Embracing the Environment, Empowering People” is embodied through the Banyan Global Foundation and Banyan Management Academy. Banyan Group is committed to remaining the leading advocate of sustainable travel, with a focus on regenerative tourism and innovative programmes that elevate the guest experience.

About Urasaya Property
Urasaya Property is the developer of Banyan Tree Residences Sichon, a new private luxury beachfront villa development, which will showcase the natural and cultural wonders of Sichon, in Southern Thailand’s Nakhon Si Thammarat province. With 15 breath-taking pool villas, plus a restaurant, bar, fitness centre and spa, this pioneering project will embrace local materials and time-honoured craftsmanship to deliver highly authentic experiences. Residents will be able to explore the beachfront market, savour fresh seafood, and even spot pink dolphins in the crystal-clear waters offshore – as well as explore the mountainous region of Khao Luang National Park, which serves as the picturesque backdrop for the project.

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First published at TravelNewsHub.com – Global Travel News

Banyan Tree Group Announces a Shift of its Name to Banyan Group

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Banyan Tree Group Announces a Shift of its Name to Banyan Group - TOP25HOTELS.comSingapore, January 18, 2024 / TOP25HOTELS / Celebrating three decades of creating exceptional experiences across hotels, spas, residences, food and retail, Banyan Tree Group is evolving its corporate umbrella brand from “Banyan Tree Group” to “Banyan Group”. This brand shift reflects the Group’s evolution into a dynamic, multi-brand hospitality powerhouse.

Since 2019, the Group has doubled its brand portfolio, bringing its pioneering spirit, design-led experiences, and purpose driven mission to new destinations, including Banyan Tree AlUla in Saudi Arabia, Garrya in Kyoto, and Folio in Osaka, Japan, Dhawa in Ho Tram, Vietnam, Homm in Huzhou, China and Banyan Tree Dubai in the United Arab Emirates. 2023 also marks a year of strong and steady business performance that has surpassed pre-pandemic levels.

Multi-brand Growth Continues in 2024 With 19 New Openings

“As we celebrate the Group’s 30th anniversary and its evolution into Banyan Group, this milestone is not only testament to the Group’s enduring success in the hospitality industry but also sets the stage for an exciting future,” said Eddy See, President and CEO of Banyan Group. “This brand evolution reflects our portfolio transformation from a single luxury brand to the diverse offering we have today. Almost half of all countries we operate in carry a multi-branded presence, most of them high-growth travel destinations. With a keen eye on expansion, we are seizing new opportunities with our distinct brands, designed to meet evolving traveller preferences and needs in these dynamic markets.”

Banyan Group currently manages 12 global brands, 75 hotels and resorts, over 60 spas and galleries and 14 branded residences across 22 countries. As part of a robust pipeline of properties, the Group’s expansion in 2024 will include 19 new properties and residences in Cambodia, China, Japan, South Korea, Vietnam and Mexico. Here are the highlights:

  • The Group’s first property in Cambodia will debut with Angsana Siem Reap
  • The first Banyan Tree property in Japan, Banyan Tree Higashiyama Kyoto
  • Further enhancing Banyan Group’s multi-brand presence, additional brands are set to debut in Vietnam – Angsana Quan Lan in Halong Bay and Garrya Mu Chang Chai, as well as in South Korea with Cassia and Homm Sokcho.
  • Suzhou, approximately 2 hours away from Shanghai by train or car, will feature two complexes – The first, in Shishan, will include Banyan Tree and Angsana, while the second, by Yangcheng Lake, will include Banyan Tree and Garrya
  • Angsana Tengchong marks the Group’s fifth property in the Yunnan province of China
  • In North America, Banyan Tree Veya Valle de Guadalupe marks the debut of the first full-fledged Banyan Tree Veya in Mexico

Record-Breaking Business Performance in 2023

The robust growth slated for 2024 has been driven by a resilient recovery post-Covid, surpassing pre-pandemic metrics across various regional markets. Key 2023 metrics include:

  • Hotels achieved higher RevPAR, up by 44%, in 9M2023 compared to 9M2022, and also surpassed the pre-pandemic performance by 27% as opposed to 9M2019, on a same store-store basis.
  • Residence sales for 9M2023 reached 90% of the full-year sales in 2022, which was the best year on record.
  • China has proven to be a strategic driver, with a remarkable +49% increase in RevPAR 9M2023 compared to the same period last year, and +18% increase in RevPAR compared to pre-Covid level in 2019 on a same-store basis. The operating footprint has expanded from 16 in 2019 to 25 properties in 2023, with 14 more in the three-year pipeline. Continued growth is anticipated, driven by a healthy opening pipeline and the strength of the domestic and outbound Chinese market in both residences and hospitality
  • The recent buyback deal with China Vanke further strengthens the Group’s position as a key player in the hospitality industry by streamlining strategic decision-making in response to market dynamics and enhancing day-to-day operational efficiency.

New Sustainability Commitments and Deepened Differentiation

Simultaneously, the company has maintained its pioneering spirit and commitment to both design-led experiences and a purpose-driven mission of stewardship and responsible tourism, making it a trailblazer for inclusive growth and sustainability.

“As Banyan Group celebrates our collective success over the last 30 years, we also recognize that the progress can’t stop here,” said Ren Yung Ho, Senior Vice President, Brand & Commercial at Banyan Group. “The core beliefs and values that have guided Banyan Group to this milestone will continue to underpin our growth strategy as we remain dedicated to being a force for positive change for both people and the planet.”

In 2024, Banyan Group will align with United Nations Climate Science-based Targets to develop a comprehensive 2030 Sustainability Roadmap that addresses both environmental and human capital development in line with its founding ethos of Embracing the Environment, Empowering People. It will also pioneer a circularity pilot project, reinforcing the brand’s commitment to advance the hospitality industry’s transition to regenerative practices.

The Group will also launch Laguna Lakelands in Phuket, its most ambitious nature-integrated development. Spanning 110 hectares, Laguna Lakelands will encompass a Rainforest park, over 10km of treetop skywalks, and six distinct zones—orchard, lakeside, lagoon, valley, and forest—ushering in a new era of immersive living.

New Programming and Initiatives

During its 30th anniversary in 2024, Banyan Group will launch Beyond, a new digital companion that offers a holistic experience across its codified wellbeing framework, and with Banyan, an experiential members programme that rewards engagement, interactions and actions. The celebration extends globally with 11 trade pop-ups, engaging global consumer campaigns, the launch of 8 signature scents inspired by the Group’s eight pillars of wellbeing and limited edition artisanal anniversary gifts, all crafted in collaboration with the communities where the Group operates.

ABOUT BANYAN GROUP
Banyan Group (“Banyan Tree Holdings Limited” or the “Group” – SGX: B58) is an independent, global hospitality company with purpose. The Group prides itself on its pioneering spirit, design-led experiences and commitment to responsible stewardship. Its extensive portfolio spans over 70 hotels and resorts, over 60 spas and galleries, and 14 branded residences in over 20 countries. Comprising 12 global brands, including the flagship brand Banyan Tree, each distinct yet united under the experiential membership programme withBanyan. The founding ethos of “Embracing the Environment, Empowering People” is embodied through the Banyan Global Foundation and Banyan Management Academy. Banyan Group is committed to remaining the leading advocate of sustainable travel, with a focus on regenerative tourism and innovative programmes that elevate the guest experience.

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First published at TravelNewsHub.com – Global Travel News

New Luxury Tented Camp Announced in Chiang Rai, Thailand

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New Luxury Tented Camp Announced in Chiang Rai, Thailand - TRAVELINDEXThe Visama Mae Chan luxury tented camp in the mountains of Chiang Rai, northern Thailand, will open 1 November. The new property, with 10 luxuriously appointed tents, is the first high end lodge by Visama Hospitality Group (VHG) Asia.

It will be a project with a purpose, run on not-for-profit principles to benefit the neighbouring Friends of Thai Daughters foundation, which seeks to prevent child trafficking by empowering girls from hill tribe communities.

The foundation, registered in the United States as a not-for-profit, and created by its current directors, Patty Zinkowski and Jane McBride, issued a statement saying: “We are grateful that Visama Mae Chan will provide both sustainable income for the foundation and employment opportunities for some of our girls. We look forward to a long and productive partnership with Visama.”

Details of the new property by VHG were revealed to a select group of travel trade representatives at the Siam Hotel in Bangkok on 27 September.

VHG Asia’s co-founders Willem Niemeijer of YAANA Ventures and Christopher Stafford, who founded the luxury boutique hotel management firm The Occident & Orient Company, told the audience that there was nowhere else like Visama in northern Thailand and that the opening 10 units would be complemented by an additional 12 luxury tents in 2024.

Niemeijer, who co-founded award winning ecolodges and tented camps in southern Thailand and Cambodia, said Visama Mae Chan guests could choose two- to four-day “journeys” at the lodge. Each journey will be created around themes such as farm to table dining, Lanna cultural appreciation, artistic engagement, outdoor adventure and sightseeing experiences.

The luxury tents, which have hill tribe names such as “Akha”, “Lahu”, “Yao”, and “Hmong”, range in size from 48 to 80 sqm, including a 12 or 20 sqm veranda. Standard amenities include air conditioning, phone, espresso machine, French press coffee pots, WiFi, rain showers, safety deposit box, refrigerator, his and her bathrobes and slippers, bathtub and 24 hour concierge, to name a few amenities.

One highlight will be The Ambalama, a gathering place for storytelling and talks by guest speakers such as authors and historians. At the Reu Doo Gaan restaurant guests can sample the best of Lanna fare, local farm to table organic options and international favourites.

Chris Stafford, Chief Operating Officer of VHG and formerly of 137 Pillars Hotels, said activity options at the pioneering lodge would set it apart from any competition.

“We want to immerse guests in a fusion of luxury and Lanna culture set against the stunning backdrop of mythical mountains of the Golden Triangle,” he said.

Stafford said that event butlers will offer guests private picnics, foraging, personalised arts and craft sessions, dining by design, meditation tutorials, and even archery. Visama Mae Chan will invite guest speakers to talk on subjects such as wellness, sustainability and community.

Looking beyond the inaugural Mae Chan project, Niemeijer told the travel agent audience: “At Visama we aim to meticulously design our camps to blend seamlessly into their surroundings, providing guests refreshing opportunities to connect with nature while enjoying modern amenities and world-class service.”

Booking and sales for Visama Mae Chan opened 27 September for stays commencing 1 November 2023 onwards.

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First published at TravelNewsHub.com – Global Travel News

MontAzure Phuket Showcases MGallery Residences MontAzure

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MontAzure Phuket Showcases MGallery Residences MontAzure - TRAVELINDEX - VISITTHAILAND.netPhuket, Thailand, May 6, 2023 / TRAVELINDEX / MontAzure Phuket, a cutting-edge luxury residential resort development on the island’s upscale sunset coast, is reaching out to investors and home buyers at a special promotional event, Memorable Moment – Awaken to the Phuket Sunshine, at Bangkok’s EmQuartier from 8-14 May 2023. During the event, MontAzure will showcase its flagship MGallery Residences MontAzure.

Nestled in the lush, forested mountains that slope gently towards a stunning beachfront, M Gallery Residences MontAzure is a freehold lakeside condominium within MontAzure. This prime location grants easy access to an exclusive selection of MontAzure facilities. Managed by internationally renowned AccorHotels, the property presents a considerable opportunity for investment returns. The first MGallery Residences in Thailand offers Studio, 1-bedroom and 2-bedroom unit types with a starting price of THB 8.9 million.

Conceptualised by the architects at SODA (Thailand) Ltd and featuring exquisite landscaping by Shma Company Limited, MGallery Residences MontAzure exudes a tranquil, back-to-nature ambience. In addition, the residences boast numerous amenities: leisure and lap pools, children’s pool and play area, pool bar, clubhouse and lobby lounge, fitness centre, yoga and spa facilities, all-day dining restaurant, green deck, starlight deck, relaxation pavilion, and a nature trail with a jogging track.

Special ‘Memorable Moment – Awaken to the Phuket Sunshine’ Offer

Home buyers and investors that reserve their units at the Bangkok event can avail of fantastic offers: a cash discount of up to one million baht, an investment package, a furniture package, a free trip to Phuket and ALL Diamond Membership of AccorHotels – all subject to terms & conditions.

MontAzure, a prime mixed-use residential development with Kamala Beach as its beachfront, is spread over 454 rai (178 acres or 72 hectares) of the mountainside to beachfront land. Within easy reach of both Phuket International Airport and Phuket Town, it includes a beachfront condominium, a resort condominium, InterContinental Phuket Resort, Cafe del Mar, a boutique lifestyle mall, a luxury retirement community and more.

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First published at TravelNewsHub.com – Global Travel News

UN-Habitat and OCEANIX Unveil World’s First Floating City

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UN-Habitat and OCEANIX Unveil World's First Floating City - TRAVELINDEXBusan, South Korea, May 13, 2022 / TRAVELINDEX / UN-Habitat, the Busan Metropolitan City of the Republic of Korea, and OCEANIX today unveiled at the UN Headquarters the design of the world’s first prototype sustainable floating city. OCEANIX Busan aims to provide breakthrough technology for coastal cities facing severe land shortages that are compounded by climatic threats.

The challenge is massive: two out of every five people in the world live within 100 kilometers of the coast, and 90 percent of mega cities worldwide are vulnerable to rising sea levels. Flooding is destroying billions of dollars worth of infrastructure and forcing millions of climate refugees to leave their homes. With nowhere to expand, rapid urban population growth is pushing people closer to the water, driving housing costs to prohibitive levels, and squeezing the poorest families out.

“Today is a pivotal milestone for all coastal cities and island nations on the frontlines of climate change. We are on track to delivering OCEANIX Busan and demonstrating that floating infrastructure can create new land for coastal cities looking for sustainable ways to expand onto the ocean, while adapting to sea level rise,” said the Chief Executive Officer of OCEANIX, Mr. Philipp Hofmann.

OCEANIX, a blue tech company based in New York, led a team of the world’s best designers, engineers, and sustainability experts in designing the flood-proof prototype. The BIG-Bjarke Ingels Group and SAMOO (Samsung Group) were the lead architects of OCEANIX Busan, unveiled at the Second UN Roundtable on Sustainable Floating Cities; a follow up to the inaugural Roundtable in April 2019, where it was agreed to build a prototype with a host city. Busan signed on last year.

“As Mayor of the Metropolitan City of Busan, I take seriously our commitment to the credo ‘The First to the Future’. We joined forces with UN-Habitat and OCEANIX to be the first to prototype and scale this audacious idea because our common future is at stake in the face of sea level rise and its devastating impact on coastal cities,” said Mayor Park Heong-joon, who has set an ambitious agenda, including turning Busan into a green smart city and launching a bid for World Expo 2030.

Speaking at the Roundtable, which took place at the UN Headquarters in New York, and was attended by government ministers of housing, Mayors, Ambassadors, and high-ranking UN officials, the Executive Director of UN-Habitat, Ms. Maimunah Mohd Sharif said. “We cannot solve today’s problems with yesterday’s tools. We need to innovate solutions to global challenges. But in this drive for innovation, let’s be inclusive and equitable and ensure we leave no one and no place behind. I am happy this Roundtable takes place ahead of the High-Level Meeting on the New Urban Agenda, where cities and countries around the world come together to discuss sustainable urbanization.”

“In designing a solution for the most vulnerable coastal locations on the frontlines of climate change, OCEANIX’s new modular maritime neighborhoods will be a prototype for sustainable communities informed by Busan’s unique juxtaposition of old and new. Creating a connection between the city and the seaside, OCEANIX Busan will expand this spirit onto the waterfront,” said Bjarke Ingels, Founder and Creative Director of BIG-Bjarke Ingels Group.

OCEANIX Busan is the world’s first prototype of a resilient and sustainable floating community. The interconnected neighborhoods total 6.3 hectares to accommodate a community of 12,000 people. Each neighborhood is designed to serve a specific purpose – living, research, and lodging. There are between 30,000 to 40,000 square meters of mixed-use programs per neighborhood. The floating platforms connect to the land with link-span bridges framing the sheltered blue lagoon of floating recreation, art, and performance outposts. The low-rise buildings on each platform, defined by their soft lines, feature terraces for indoor-outdoor living, helping to activate the network of vibrant public spaces. OCEANIX Busan will organically transform and adapt over time. Starting from a community of 3 platforms with 12,000 residents and visitors, it has the potential to expand to more than 20 platforms. The floating platforms are accompanied by dozens of productive outposts with photovoltaic panels and greenhouses that can expand and contract over time based on the needs of Busan. OCEANIX Busan has six integrated systems: zero waste and circular systems, closed loop water systems, food, net zero energy, innovative mobility, and coastal habitat regeneration. These interconnected systems will generate 100% of the required operational energy on site through floating and rooftop photovoltaic panels. Similarly, each neighborhood will treat and replenish its own water, reduce and recycle resources, and provide innovative urban agriculture.

OCEANIX is a blue tech company founded by Itai Madamombe and Marc Collins Chen in 2018 to design and build floating cities for people to live sustainably on the ocean. OCEANIX design and engineering partners on the Busan prototype include: Prime Movers Lab, BIG-Bjarke Ingels Group, SAMOO Architects and Engineers, Arup, Bouygues Construction, Helena, the MIT Center for Ocean Engineering, the Korea Maritime and Ocean University, top environmental artist Olafur Eliasson and Studio Other Spaces, Wartsila, Transsolar KlimaEngineering, Mobility in Chain, Sherwood Design Engineers, Agritecture, the Center for Zero Waste Design, Greenwave, and the Global Coral Reef Alliance.

UN-Habitat, works to promote socially and environmentally sustainable cities and human settlements. UN-Habitat’s vision is to achieve “a better quality of life for all in an urbanizing world”. It works in over 90 countries to promote transformative change through knowledge, policy advice, technical assistance and demonstration projects.

Busan, a city of 3.4 million residents, is the second largest city in the Republic of Korea. It is home to the biggest industrial complex in the Southeast Economic Region of Korea. Busan is one of the most important maritime cities of the 21st century, making it a natural choice to deploy the sustainable floating city prototype with its marine engineering capabilities.

First published at TravelNewsHub.com – Global Travel News

Ras Al Khaimah Unveils Megaproject on Falcon Island

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Ras Al Khaimah Unveils Megaproject on Falcon Island - TRAVELINDEX - VISITRASALKHAIMAH.net

Ras Al Khaimah, United Arab Emirates, March 22, 2022 / TRAVELINDEX / Ras Al Khaimah developer Al Hamra unveiled a Dh1 billion ($272 million) residential project as it taps into a broader recovery in the UAE’s property market. The new project, named Falcon Island, will be built within Al Hamra Village, a residential community that contains a mall, a yacht club and hotels, the company said on Wednesday.

• For a comprehensive travel and tourism guide on RAK and UAE go to VisitRasAlKhaimah.net

“This mega-development will further underscore Al Hamra and Ras Al Khaimah’s credentials as a multicultural, safe and progressive destination for its residents, investors and visitors,” group chief executive Benoy Kurien said.

Construction is set to begin in the second quarter of this year and will be completed in 24 to 28 months, Mr Kurien told The National in an interview.

The project will have 501 villas ranging from two- to seven-bedroom units, with prices starting from Dh1.2m.

The launch of the new project comes as the UAE’s property market continues to recover from the coronavirus-induced slowdown. The market has received a boost from new government initiatives such as residency for remote workers and retirees, as well as the expansion of the 10-year golden visa programme.

The UAE’s measures to stem the spread of the pandemic, such as widespread testing and an effective vaccination programme, have also helped the property market to recover.

Al Hamra is seeking to take advantage of the post-Covid lifestyle trend where people are looking to lead a less stressful life in a relaxed atmosphere, Mr Kurien said.

“A lot of employers are offering flexible working hours, so people don’t have to go to offices as much as they needed to go pre-Covid, and the infrastructure connecting the emirates is very good,” he said.

“So, we are looking for small families who want to move from the hustle and bustle of city life to a more leisurely and relaxed atmosphere in Ras Al Khaimah, and young families who want to buy a home at an affordable price yet have an exclusive island living [experience].”

Along with a focus on buyers from the UAE, the company is also seeking investors from India, Commonwealth of Independent States, Africa and the GCC.

“We already did a pre-launch [sale of the Falcon Island project] exclusively to our broker partners and managed to sell everything we launched,” Mr Kurien said. The new project is part of the company’s five-year strategy unveiled earlier this month, which will result in Dh1bn being invested between 2023 and 2027 to boost its market presence.

“Some of this will be deployed in building new assets, some of it will be deployed in refurbishing and upgrading existing assets and some of it will be deployed in optimising some of the services we offer,” Mr Kurien said.

Al Hamra will also be announcing a new apartment project in the coming weeks, he said. Last month, the developer sold its Al Hamra Mall in Ras Al Khaimah to Abu Dhabi’s Aldar Properties in a deal worth Dh410m.

“Aldar has great plans for the mall, for its development, refurbishment and for its growth, and it fits in well for the overall narrative of Ras Al Khaimah … we are proud that we were able to attract investment from a developer like Aldar.”

The company is also planning to work with other developers or investment companies to jointly develop “both greenfield and brownfield developments in future”, he said, without revealing further details.

On the outlook for the UAE’s property sector, Mr Kurien remains confident that the country will continue to attract investment due to the government’s new initiatives.

• For a comprehensive travel and tourism guide on RAK and UAE go to VisitRasAlKhaimah.net

“The UAE has always been an attractive destination for investors because of safety [and] security. Now, with the changing laws on residency, especially with golden visas … those are all game changers for the UAE and I am very bullish about inward real estate investment into the UAE — at least for the next five to 10 years.

“Ras Al Khaimah will also benefit from this and the increase in population will have a ripple effect on shopping malls and hotels,” he said.

First published at TravelNewsHub.com – Global Travel News

Global Real Estate CEOs Plan for Industry Transformation

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New York City, NY, United States, April 25, 2021 / TRAVELINDEX / The real estate industry needs to transform to serve the needs of people and cities in the next decade, according to a new report released today by the World Economic Forum. COVID-19 has revealed vulnerabilities throughout the real estate industry, ranging from indoor air quality problems to excess supply and accelerated underlying…

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First published at TravelNewsHub.com – Global Travel News