UAE - Ras Al-Khaimah - La Hoya Bay Residence

[koss]

Originally Posted by SeaHorse

I have a sea / pool facing studio on 'F' block first floor for resale at the discounted price. Anyone interested to buy, please contact me at the email address:

Are you guys having much luck with selling your apartments in RAK?

[vanityfair]

Have just arrived back to uk from Ras Al Khaimah. Visited Al Marjan island and La Hoya Bay residence. Some work going on but not as much as needed to keep within completion dates. Still quoting June 2009. I think Sept 2010 at the earliest. Very disappointed with finish of show home. Interior fitted wardrobes especially poor. The interior designer needs shooting. Light blue ceramic tiles in bathroom and cloakroom. Awful. I suggest they should introduce a Bronze, Silver, Gold finish package, i.e standard, mid range, and top range. Top range being granite worktops in kitchen, better quality fitted wardrobes, marble bathrooms. Anyone else out there viewed the show home.

[asif08]

Any updates on La Hoya Bay construction?

[vanityfair]

A belated happy 2009 to all. I think this year will be testing to say the least. Still happy with my investmant in La Hoya Bay. With all the current economic trouble I believe Ras Al Khaimah to be a sound investment. My only concern is that large parts of Al Marjan island will remain undeveloped due to developers consolidating there current positions. This will mean a prolonged construction period on the island probably 5 years+. Unfortunately La Hoya Bay is right by the main access road to the other two islands. With La Hoya Bay being one of the first developments to be completed this will mean heavy road noise for end-users.

[ANARLALANI]

I am currently over in Dubai and have just learnt that the construction has stopped at lahoyaBay as the company is looking for another construction company as they are opening an escrow a/c and this is one of the requirements. Anybody heard anything similar

[vanityfair]

Khoie have written to say they are employing a different construction company from Dubai. They will be starting stortly(what does 'shortly' mean in UAE I don't know) They will be working 24 hours. We will wait and see. There does appear to be a lot of talk and no action at the moment in Dubai and RAK.

[basedindubai]

Originally Posted by vanityfair

Khoie have written to say they are employing a different construction company from Dubai. They will be starting stortly(what does 'shortly' mean in UAE I don't know) They will be working 24 hours. We will wait and see. There does appear to be a lot of talk and no action at the moment in Dubai and RAK.

hello all , I am also a investor in LHB but follow the forum on SKY SCraper City DOT COM ... we have been told there will be a official announcement by khoie within first week of march 09 !! lets see what they have to say

[basedindubai]

LHB is to be handed over to Rakia in the next couple of weeks and they will complete the construction.
Depending on your point of view this is good news and explains why Khoie have been tight lipped of late.
I have been assured that the interests of the loyal and patient investors will be upper most in the minds of Khoie and Rakia.
I expect we will be asked to sign a new contract and if we do not agree with the terms of the new contract , will be offered a refund. (then again this is the UAE and the norms don't necessarily apply).
I would suggest that Rakia will hand this over to RAK Properties to build and market. Judging by the progress of Bab al Bahr and the "Mina", progress should accelerate and the tone of this forum will once again become positive.
All those at Khoie, that you used to deal with will no longer be involved. They will talk to you but they can not discuss details. I guess we just have to wait to hear from Rakia.

copied from SSC

[vanityfair]

Khoie have been extremely bad at communicating. Even if the are waiting for further imformation, they should still communicate. No communication makes people worry and panic. I hope the outcome will be positive. Al Marjan will be fantastic when completed along with La Hoya Bay. Does anyone know the problems with the previous contractors.

[basedindubai]

Originally Posted by vanityfair

Khoie have been extremely bad at communicating. Even if the are waiting for further imformation, they should still communicate. No communication makes people worry and panic. I hope the outcome will be positive. Al Marjan will be fantastic when completed along with La Hoya Bay. Does anyone know the problems with the previous contractors.

you not getting the point "THEY DUMPING THE PROJECT" & PROBABLY raKIA that is the governing authority is intervening !!!!