Al Hamra divests retail asset to Aldar Properties for $112mn – Construction Week Online

Al Hamra divests retail asset to Aldar Properties for $112mn – Construction Week Online

Ras Al Khaimah-based real estate development and investment company Al Hamra has divested one of its retail assets the Al Hamra Mall to Abu Dhabi’s Aldar Properties, for a consideration of $112mn (AED410mn).

Al Hamra Mall is spread across G+1 floors and offers an area of 27,000m2 and caters to both residents and tourists.

This reflects Al Hamra’s record of creating high-value real estate assets at key locations in Ras Al Khaimah which have the potential to attract inbound investments from reputed investors and developers.