#PROJECT-Ras Al Khaimah: LA HOYA BAY RESIDENCE (Al Marjan Island)

[soennecken]

5 (Phase II will add two more).Buildings on AL MARJAN ISLAND in the emirate of R.A.K consisting of one level covered parking and seven floors of studio, 1 bed, 2 bed and 3 bedroom apartments. The first development on the Island and it is being built by Frank Khoie.
Ground breaking this week and expected completion date DEC 2007. (probably March 2008)(or June 2008)

www.lahoyabay.com

[Nasrawi]

Al Khaleej

Construction work starts for La Hoya Bay residences on Marjan Island of RAK. The project costs USD 800 million, and the announcement has come 2 months after the launch of the project.

Phase One costs USD 180 million, and is made up of 6 stages. It includes 725 residential units that should be completed by March 2008.

There will be a 5 star health club and spa, tennis courts, swimming pool, and an 18 hole golf course.

[Emirati_Girl]

fdeet ana raki... wallah man6e8atna 7elwa and testahal kel shay 7elow sharat hal projectat.. bas atmanna enna el nature ma tet3'ayyar inshallah..

[RAKPROP]

Published: 13/11/2006 12:00 AM (UAE)

Ras Al Khaimah: Khoie Properties, developers of the luxury waterfront development La Hoya Bay Residence, at Marjan Island, recently launched the construction of their $800 million project.

The latest development comes only two months after the initial project launch by Shaikh Saud bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah, in Sep-tember.

The $180 million phase one of the six phase development consists of 725 freehold studio, one, two and three bedroom apartments and on site leisure amenities and is due for completion in March 2008. The appointed contractors are Torque LLC.

Frank T Khoie, Chairman and CEO of Khoie Properties, said: "This was a landmark occasion for us as it inaugurates the start of a dynamic construction period that will see the project successfully through to completion. It also acts as a clear indicator that the project will be completed on time and delivered to our buyers to the highest quality and standards."

With magnificent sea views, the Mediterranean style development encapsulates the spirit of sought after Riviera style living with the advantage of all year round weather, but situated in the heart of the Middle East. It also provides both buyers and investors from all over the UAE an alternative waterfront residence and weekend retreat.

Dr Imad Haffar, COO of Rakeen, developers of Marjan Island, said: "Ras Al Khaimah is experiencing an unprecedented boom and becoming a highly attractive destination for tourists, businesses and investors alike. This is a visionary emirate with a progressive pro-business government that encourages investors from a wide gamut of industries such as tourism, manufacturing, engineering, commerce, leisure and recreation. With a highly developed structural and logistical infrastructure, coupled with an advanced legal system, Ras Al Khaimah is on a bold and sustainable track to becoming the place for the perfect work-life balance."

[soennecken]

After the Gold Rush – the race for Ras Al Khaimah
Author: Andy McTiernan Sunday, November 12, 2006 at 14:04



It would seem that investor eyes are firmly glued on Ras Al Khaimah these days, for in truth RAK has all the features that have rendered the emerging coastal markets of Central and Eastern Europe so attractive to cross border finance in search of a good home. Acres of well endowed beach front lapped by warm blue sea, ecological and geophysical diversity, from wetlands to mountain peaks and a cultural tradition in this case of old Arabia, which has retained its dignity despite the march of time.

The Government has of course been aware of the crown jewels that it had in the vault in terms of tourism and living potential for some time. As the already crowded thoroughfares that point to Dubai’s ever increasing prosperity and population count get busier by the day, there is a time for reflection. Many of us, in search of a becalmed state, pursue that elusive prize according to the lyric of that old Ben. E. King classic, “Under the boardwalk, down by the sea,” in an environment that still retains a sense of time and space. If we were to reenact the heyday market of the Spanish Balearic islands, Ras Al Khaimah would play the United Arab Emirates Minorca as opposite Dubai’s Ibizia. Although in truth RAK’s grand plan is to create an environment that is far more akin to Monaco than Minorca.

Leading the French Riviera School of art and design is the recently launched La Hoya Bay development, which is the domain of Khoie Properties and its charismatic man for all seasons, CEO Frank Khoie. Frank and his premiership team have embarked on a project that is likely to create interest in the first degree, both from a destination living experience as well as a financial perspective. Located on a rapidly rising land mass known as Marjan Island, astride the isthmus, if I remember my old geography master’s term correctly, La Hoya Bay has the recreation of all that is idyllic about the Côte d´Azur firmly in mind.

Now as one who is permanently driven by dreams, Frank Khoie is of much the same disposition, the top of the surrealist property table for me would be an elegant residence in Cannes or Cap d’Antibes. However, I am a long way from these desirable locations both in terms of distance and personal exchequer, but should such a close fit arrive on my doorstep, then that at least could be my comfort blanket. Equally, as the season draws to a close in the Mediterranean, it would make extraordinarily good sense for the thin blooded to decamp to warmer climes with equivalent amenities, in much the same way as the great artists and writers of the early 20th Century and their attendant high society were inclined to do. So La Hoya Bay has an awful lot going for it.

Ras Al Khaimah of course, is a drive away due north up the Emirates Road from Dubai and there are good and bad times to travel this particular arterial. However, in terms of all round connectivity, the emirate has its own international airport already subject to an expansion programme, as well as Sharjah Airport close at hand and of course the super-hub of Dubai International Airport further on down the aforementioned highway. There is even water transportation in the form of a hovercraft service in the offing between RAK and Dubai and ultimately there will be rail connection, although that is further down the line if you’ll pardon the pun!

The investment in the RAK infrastructure and amenities is already in the substantial spend stage. There is an excellent golf course in place at Al Hamra Village within easy driving distance, a day of days for word play it would seem, and shopping malls, entertainments centres, commercial office parks et al; all cantering smartly along the road to completion. The international business community is also circling the emirate expectantly, as indeed, why operate the less public facing elements of your company in a bright lights, big city environment, when you can occupy more space for less overhead.

However from the property investor’s line of sight, it is the riveted focus of Ras Al Khaimah’s authorities on tourism that has their hearts and minds pumping. The raw material of nature’s endowment policy is already present and the build-resorts-and-they-shall-come policy will almost certainly bear fruit. It is the Europeans in particular who are constantly in search of holiday pastures and experiences new and they represent an exceptionally ripe crop to be harvested by the RAK tourism phenomenon. Naturally as is the case the whole world over, they come and they enjoy - once, twice, thrice even; then they buy a place in the sun.

Not only that, a Ras Al Khaimah hideaway could equally represent the promised land for short-haul expatriates, with neither airports, baggage nor boarding cards to be negotiated. The weekender escapee from the metropolitan escalator may retain his or her country retreat and the right to pursue the therapy of leisure, far removed from the bumper to bumper exasperation of swollen city highways. Ah do I hear the call to La Hoya Bay Residence rising in the distance, humour me I’m an artist with a vivid imagination, now where did I leave my keys?

[philipz]

The launch of RAKEEN will commence at Al Marjan Islands, Ras Al Khaimah by His Highness Sheikh Saud Bin Saqr Al Qassimi, Crown Prince and Deputy Ruler of Ras Al Khaimah in the presence of senior government officials, on December 9, 2006. Also expected to attend the extravagant launch are prominent dignitaries and board members of RAK Airways, RAK properties and RAK Oil.

RAKEEN will develop and manage some key projects in Ras Al Khaimah and overseas. Those projects in RAK include Al Marjan Islands, RAK offshore, The Gateway, Al Hamra Amenity Centre, Jabal Al Jais and Banyan Tree Resort. RAKEEN will also develop and manage projects in Italy Iran, India, Azerbaijan, Ukraine and Georgia.

Located 27 kms southwest of the town centre, Al Marjan Islands is the first man-made islands project to be developed in Ras Al Khaimah. The cluster of five islands extends over 2.7million square metres and is worth over USD 1.8 billion. Land reclamation is expected to finish by end of 2007.The complete project is expected to be ready by mid 2009.

RAK Offshore will be a modern and functional complex destined to become the new hub for the offshore financial operations of the regional business community. This USD 0.8 billion project will include uniquely designed towers which will house residential apartments, hotels, commercial areas and retail components.

The Gateway - an integrated commercial and residential development will be built in 5 phases and will be complete by 2012. The development will house 50,000 residents.

Source: AME Info

[soennecken]

Now, I am not a salesman but I can get you a 1% discount off the asking price of these apartments. Give me a pm if you are thinking of buying here......Soen

[dubaigreen]

Tried to go onto it, but not possible, so hard to see how far they are with this development.

Anyone know the prices for a sea-view apartment, and the Service cost?

[soennecken]

This picture was taken last week. It is in the rain but it gives an idea of the view back to the mainland. They hope to have a show apartment ready soon and this will be located where you see the palm trees.

[dubaigreen]

Hi,
Visited La Hoya Bay Construction yesterday. The piling was not started. According to Khoie, the existing company was fired, and now they hired 2 other ones to work from two sides to speed up the piling, but no activity visible.
However, they created a 1 bed-room demo on-side, which looked ok. See pictures below.

First the demo (you see an Asian TV company interviewing Frank Khoie, by the way):






And than the side where the Apartments will be build (no activity yet)



Where "seagull" block will be situated:



The canal next to Seagull block:

[soennecken]

I have been told that the first phase will be ready by March 2008. A few months later than originally planned but then are'nt they all. the apartments look roomy, I like the round dining area.
soen

[farnush]

too expensive for RAK

[soennecken]

Originally Posted by farnush

too expensive for RAK

It depends on what your expectations are. If price is the main factor in a purchase then there is always International City. I think La Hoya Bay is good value for what is on offer. Besides this is not RAK City but AL MARJAN ISLAND. Those who "missed the boat" on the Palm have another chance now.:-)

[soennecken]

G+7 Spanish style waterfront freehold apartment and office tower on Al Marjan Island to be developed by Khoie properties. This is the second development on the island and is to be built next to the La Hoya Bay Residence

[soennecken]

Originally Posted by Emirati_Girl

fdeet ana raki... wallah man6e8atna 7elwa and testahal kel shay 7elow sharat hal projectat.. bas atmanna enna el nature ma tet3'ayyar inshallah..

Please may this be translated, sukran

[GoDubai!]

That view over the water from the show flat is incredible. It actually seems nicer than the Palm view-wise. It looks like a real resort destination. The Palm rather looks like an extension of Dubai (which it is, of course), like another Emirates Hills, Jumeirah Islands... just as crowded with only a little more in the way of water.

But I have one concern about La Hoya. No doubt Nakheel has been able to spare no expense to make sure its dredged islands are completely up to form. But how deep are the pockets of the La Hoya developer? The RAK coast is more susceptible to siesmic activity--due to its proximity to the Iranian fault zone--than Dubai's coast. Is there any evidence that the soil on this man-made island will be able to withstand any strong siesmic activity?

[soennecken]

Originally Posted by GoDubai!

That view over the water from the show flat is incredible. It actually seems nicer than the Palm view-wise. It looks like a real resort destination. .

But I have one concern about La Hoya. No doubt Nakheel has been able to spare no expense to make sure its dredged islands are completely up to form. But how deep are the pockets of the La Hoya developer?

Al Marjan Island construction and infrastructure is being developed by RAKEEN a fully government owned company with very deep pockets.

http://www.rakeen.com

I have started a forum for purchasers or potential purchasers at the residence and BizVil on www.eyeonworldwide.com

[soennecken]

From Frank

[dubaigreen]

Hi,

Nice pictures, hopefully they can deliver.

Marjan Island will get a brother, "Dana Island", just right of Al Hamra Village, in the shape of a tree (kind of).

Cheers
Dubaigreen

[soennecken]

Originally Posted by dubaigreen

Hi,

Nice pictures, hopefully they can deliver.

Marjan Island will get a brother, "Dana Island", just right of Al Hamra Village, in the shape of a tree (kind of).

Cheers
Dubaigreen

Hi DG..........How did you find out about DANA island? is there any info on it, ?Soen