Namariq Residency — a jewel in the heart of KAEC

The launch of the Namariq project took place recently.
Updated 06 February 2018

Namariq Residency — a jewel in the heart of KAEC

With the launch of its second accommodation complex in Saudi Arabia, Namariq has set the benchmark in the accommodation sector with its quality construction, state-of-the-art facilities and professional workforce.
Housed in the heart of the thriving King Abdullah Economic City, the Namariq project reflects a progressive spirit, which is in line with the Kingdom’s Vision 2030 toward a bright future.
The launch took place on Jan. 31, and was graced with the presence of VIPs, key businessmen and top executives from leading domestic and international companies, along with Ahmad Linjawi, deputy CEO of Emaar, and Abdul Aziz Al-Mohaimeedm, Emaar’s director general, real estate, municipality and urban planning.
The new Namariq Residency complex in KAEC is thoroughly designed and developed to house and serve employees and workers from all sectors with a single-minded vision — to provide better living to its inhabitants so that they are geared-up to deliver their jobs with optimum productivity.
CEO of Namariq, Hussein Hamed Fayez, said: “Namariq is focused and determined to develop a facility that reflects the industry’s best standards coupled with distinctive services.
The core is to have an accommodation facility for workers and employees from various walks of professions and provide them with a quality-led comfortable living. The company is geared-up to extend its hospitality services on large scale with a motive of becoming the most trusted name in the business.”
The vice president of King Abdullah Economic City, Ahmed Linjawi, described Namariq Residency as a true “jewel” in the heart of KAEC. He appreciated the overall concept and execution of the project with a special mention of the fact that quality is what has impressed him, and he believes that it is a very valuable investment that Namariq has made in KAEC.
The Namariq Residency at KAEC has an impressive capacity of accommodating more than 3,084 residents in the first phase. The facilities include a dining hall, housekeeping, laundry services, indoor and outdoor recreation, coffee shop, commercial shops, mosque, and a first aid clinic.


UAE’s Al-Hamra announces
relief package for partners

Updated 02 April 2020

UAE’s Al-Hamra announces
relief package for partners

Al-Hamra, a real estate developer, services provider and investment company in the northern emirates, has created an economic relief package, which includes several initiatives to help ease the financial burden of its mall tenants, freehold owners, residents and customers, impacted by the COVID-19 outbreak.

The announcement is in line with the UAE government and Ras Al-Khaimah’s objectives to support the economic environment and boost financial stability. The initiatives include up to three months of rental relief, reduction in cooling consumption charges, deferral of fees, waiver of payment delay penalties and payment due date extensions.

Dedicated teams have been deployed to assess specific requirements of various businesses and individuals to provide economic relief and support. The tasked force is also reassessing cost-effectiveness of operations in order to pass on the benefit to the end users and customers.

HIGHLIGHT

The initiatives include up to three months of rental relief, reduction in cooling consumption charges, deferral of fees, waiver of payment delay penalties and payment due date extensions.

Benoy Kurien, group CEO of Al-Hamra, said: “We have been proud partners in shaping the real estate landscape of Ras Al-Khaimah and this pride comes with a responsibility to the emirate as well as to our partners and consumers who have contributed to our success. This pandemic is reshaping the way we think about community and has made one thing strikingly clear: Our interdependence. We are working closely with our stakeholders to ensure that we recover from this period together, stronger and more resilient.

“We understand the predicament faced by all and the impact of the coronavirus outbreak on our economy. During these unprecedented times, we are more committed than ever to stand firmly by our valued partners and customers. Our initiatives aim to support business continuity by offsetting some of the impact, and to promote the welfare of the community. Our dedicated teams will reach out to our partners in the following days to understand and discuss their requirements and implement effective measures. We will continue to support the government, our customers and partners in all ways possible to overcome this challenging situation together.”

Al-Hamra has diversified interests in retail, residential and hospitality in Ras Al-Khaimah and owns iconic assets such as the award-winning master planned community of Al-Hamra Village, Waldorf Astoria Ras Al-Khaimah, Ritz Carlton Al-Hamra Beach, Manar and Al-Hamra Malls. The group is focused on providing premier lifestyle real estate developments, while investing in hospitality and leisure segments.