#PROJECT-Ras Al Khaimah: LA HOYA BAY RESIDENCE (Al Marjan Island) - Page 5

rags · January 10th, 2008, 09:07 PM

Khoie's latest newsletter says that there is a surprise 'new element' to be announced in LHB in the forthcoming international property show in Dubai (Feb 17th). Just thought you all might be interested.

Monument · January 11th, 2008, 10:43 AM

Surprises from Developers are often worrying - often to make up for something that has gone wrong!

Morrismarina · January 11th, 2008, 08:23 PM

How does somebody get a copy of the newsletter ??

rags · January 12th, 2008, 06:08 PM

Quote:

Originally Posted by Morrismarina

How does somebody get a copy of the newsletter ??

You can write to khoie and get it in your mail box or see it directly in their website.

http://khoie.com/Newsletter/Khoienewsletter.html

Yousuf27 · January 25th, 2008, 08:24 PM

Does anyone have views about the possibility of a timely completion here? The contract seems to indicate that the contractor will want to go all out to avoid any lengthy delays. The late delivery penalty seems quite punitive and gives me some confidence that we might get these apts more or less on time.

soennecken · January 25th, 2008, 08:35 PM

Quote:

Originally Posted by Yousuf27

Does anyone have views about the possibility of a timely completion here? The contract seems to indicate that the contractor will want to go all out to avoid any lengthy delays. The late delivery penalty seems quite punitive and gives me some confidence that we might get these apts more or less on time.

What is the late delivery penalty??

Yousuf27 · January 26th, 2008, 11:05 AM

I can't recall the exact wordings and I don't have the details with me - I'm travelling, but I remember the sales person pointing out to me that after the normal 6 months grace period the late delivery payments would kick in and in my case I'd be entitled to receive the equivalent of around GBP £1k per month; Thats on a one bed purchase It seemed to indicate the developer has really got to complete on time or within the grace period, because he isn't going to want to make compensation payments at that level.

beer51 · January 28th, 2008, 02:48 PM

Hi Guys

Far as i am aware no one in dubai has received any compensation for the delay in delivering the projects. Take JLT for example projects have been delayed for 2yrs and counting and not a penny in compensation. It might be different now as the money is kept in the Escrow account but i wouldn't bet on it. The contract you get from the developer is not worth the paper it's written on. Sorry to paint a dull picture but take it from someone who has experienced all this.

Yousuf27 · February 3rd, 2008, 10:15 PM

Anyone know who is selling LHB units - apart from Block E. Select Property had an exclusive to sell Block E but they now seem to have taken the property off their website. Have all the blocks been released by now?

Greg UK · February 12th, 2008, 02:11 PM

Hi guys I'm new to this forum so please forgive any mistakes. I bought a studio in Block D "Dolphin" yesterday and I beleive they have another few available including one really big at over 50 Sqm. I bought through a Dream Homes Worldwide (dreamhomesww.com). They seemed ok but i am still waiting for formal confirmation from the developer (so far received the confirmation of reservation from Dream Homes). I also contacted Khoie through their website and got a reply today saying they still have units available although the list they sent me was unreadable. I believe it was in Block D as well.
For those of you who are familiar with LHB i wanted to ask if you know what views will the apartments on the back have? I purchased a studio No.22 in block D which is right at the back - the price list specifies it as "regency view" but the guys at Dream Homes told me it will be overlooking some other development. Does anyone know anything about it? Now I'm worried my view will be blocked.
I would appreciate any information you can provide.
Many thanks

Yousuf27 · February 12th, 2008, 04:30 PM

Hi Greg, - welcome! I have a 1 Bdr in Block E - and bought it through Select Property in the UK. My apt is described as having a sea/pool view, As far as I can see if you are "at the back" with a Regency view you must be overlooking the main road onto Marjan Island. Obviously beyond the road there will be a better view but during the various constructions going on over the next several years the main access road for the whole island complex could be quite noisy. I can't see that there would be much risk of your view being blocked though.

Greg UK · February 13th, 2008, 01:38 PM

Thanks for your reply Yousuf27. I really appreciate it. Do you by any chance have any plans or renders of the whole La Hoya Resort where i could see which block is which and where Regency is planned? I guess i panicked a little and bought the last apartment available as they were selling like hot buns. There were none available with sea view or even pool view. I am worried now that the apartment overlooking the road won't be very easy to rent out or sell during the construction period which will go on for the good few years. What do you think about rental potential.
If any of you guys have more information or renders regarding La Hoya Bay please post them or send a link. Any info about Regency?
Thanks
Greg

Yousuf27 · February 13th, 2008, 05:47 PM

Greg - I've PM'd you a reply.

rags · February 13th, 2008, 10:02 PM

Quote:

Originally Posted by Greg UK

Thanks for your reply Yousuf27. I really appreciate it. Do you by any chance have any plans or renders of the whole La Hoya Resort where i could see which block is which and where Regency is planned? I guess i panicked a little and bought the last apartment available as they were selling like hot buns. There were none available with sea view or even pool view. I am worried now that the apartment overlooking the road won't be very easy to rent out or sell during the construction period which will go on for the good few years. What do you think about rental potential.
If any of you guys have more information or renders regarding La Hoya Bay please post them or send a link. Any info about Regency?
Thanks
Greg

Greg,

If you are in one of the rear studios of Dolphin, particularly in a lower floor, your view of the sea will be fully blocked. It is not clear as yet what the height of the building/s on the other side of the road is going to be but the fact is that they too are multi-storeyed. It is beyond those buildings you have the sea and the land. Which floor you are in, what is the area of your studio and what was the price you paid, if I may ask?

I have some floor plans and if you can send me email ID, I can send you the doc.

Rags.

soennecken · February 14th, 2008, 07:13 AM

If any of you guys have more information or renders regarding La Hoya Bay please post them or send a link. Any info about Regency?
Thanks
Greg[/QUOTE]

Greg please see my post 37 for the latest renders and you can also go to www.lahoyabay.com for floor plans.

Soen

Yousuf27 · February 17th, 2008, 01:57 PM

Any news on the "surprise new element" to be added to LHB? The announcement from Khoie was due today I believe?

Monument · February 17th, 2008, 04:13 PM

Quote:

Originally Posted by Yousuf27

Any news on the "surprise new element" to be added to LHB? The announcement from Khoie was due today I believe?

That's the surprise - No Surprise.

martinfields · February 17th, 2008, 11:19 PM

i lived in Dubai for 2 years and ras al khamai and is an oasis of a county. i am also aware of the al marjan island which will compete very favourably with the palm in Dubai and only 45 minutes away. Many people i now are planning to move to this emirate as it offers far better tax incentives and privacy and al marjan island will be the most prestigious man made islands in the world.

Unlike dubai that dredged sand al marjan island is not thus allowing the sea to stay clean. i have invested in 6 properties to date on al marjan island and by far the most exciting development on the island will be the new 6 star marriott development previously known as aakar. This has only recently been announced but is positioned in the most favourable position with the most beach front for the size of the development.

i do not work in anyway with this development but advise smart investors to take a look at the aakar development that is being sold by http://www.7cinvest.com/uae/aakarmarjan.php

this is not the actual development as Marriott have now taken over but is going to be spectacular and wheras other developments are around the 1200 Dirham per square foot, this is similar, but is 6 star and is in a better location. Furthermore there are 2000 apartments in la hoya but there are only 300 exclusive apartments in this development making it very easy to sell on later. I know dozens of people who have bought terrible identikit apartments in massive developments in dubai and there is difficulty selling.

Anyone who has done the research will take a wide berth of la hoya and blu mirage as these are both in terrible locations at the entrance without facing onto a beach and not cheap either for what is being offered. There are also 1000s of apartments very close together. The marriott development is also surrounded by town houses and villas and will have a premium location and make rental considerably easier. the apartments also face south west so gets excellent light all day.

please do not take my word for it but definately worth looking into if you are looking to invest.

i would be interested to hear otehr peoples experiences or ideas on the al marjan island development as it will take off in the next 6 months as the interest picks up.

Yousuf27 · February 18th, 2008, 12:03 AM

Sorry Martin - this is pretty transparent mate! You work for them! This is neither better nor cheaper than LHB! You'll need to do better than that! The aspect is no better - LHB will have access to a beach, and what is the completion date of your recommended alternative? I'm happy with what I bought! I hope you'll be happy with your purchase too! Have a nice day.

martinfields · February 18th, 2008, 02:12 AM

i was just opening a debate regarding prospects on the island. importantly about any investment is timing and i understand LHB is due for completion earlier than others. Personally the longer completion date the better for investors as this provides a longer period of time for which the island to develop and for prices to rise. developments a year ago were 900 Dirham a sq ft and several are now nearing 1300 per sq ft. Therefore investors have locked in 40% increases with little investment. lHB is one of the early developments so should experience good returns but the without direct beach access or being sheltered to some extent will reduce its true potential. blu mirage looks a little soulless. I am interested to explore other projects and viewpoints. I am not working for anyone but i have pointed out have 6 properties reserved spread across 2 developments and looking to add more to the portfolio for the right development. i have not to date invested in lhb but interested to consider viewpoints. The main reason for not investing in such a development is that i look for long development times so that price rises can be maximised as generally i sell before completion or shortly after completion.

February 12th, 2008, 02:11 PM	#90
Greg UK Registered User Join Date: Feb 2008 Posts: 5 Likes (Received): 0	Apartments still available in La Hoya Bay Hi guys I'm new to this forum so please forgive any mistakes. I bought a studio in Block D "Dolphin" yesterday and I beleive they have another few available including one really big at over 50 Sqm. I bought through a Dream Homes Worldwide (dreamhomesww.com). They seemed ok but i am still waiting for formal confirmation from the developer (so far received the confirmation of reservation from Dream Homes). I also contacted Khoie through their website and got a reply today saying they still have units available although the list they sent me was unreadable. I believe it was in Block D as well. For those of you who are familiar with LHB i wanted to ask if you know what views will the apartments on the back have? I purchased a studio No.22 in block D which is right at the back - the price list specifies it as "regency view" but the guys at Dream Homes told me it will be overlooking some other development. Does anyone know anything about it? Now I'm worried my view will be blocked. I would appreciate any information you can provide. Many thanks

February 13th, 2008, 01:38 PM	#92
Greg UK Registered User Join Date: Feb 2008 Posts: 5 Likes (Received): 0	Block D "DOLPHIN" Thanks for your reply Yousuf27. I really appreciate it. Do you by any chance have any plans or renders of the whole La Hoya Resort where i could see which block is which and where Regency is planned? I guess i panicked a little and bought the last apartment available as they were selling like hot buns. There were none available with sea view or even pool view. I am worried now that the apartment overlooking the road won't be very easy to rent out or sell during the construction period which will go on for the good few years. What do you think about rental potential. If any of you guys have more information or renders regarding La Hoya Bay please post them or send a link. Any info about Regency? Thanks Greg

February 17th, 2008, 11:19 PM	#98
martinfields Registered User Join Date: Feb 2008 Posts: 10 Likes (Received): 0	Al Marjan i lived in Dubai for 2 years and ras al khamai and is an oasis of a county. i am also aware of the al marjan island which will compete very favourably with the palm in Dubai and only 45 minutes away. Many people i now are planning to move to this emirate as it offers far better tax incentives and privacy and al marjan island will be the most prestigious man made islands in the world. Unlike dubai that dredged sand al marjan island is not thus allowing the sea to stay clean. i have invested in 6 properties to date on al marjan island and by far the most exciting development on the island will be the new 6 star marriott development previously known as aakar. This has only recently been announced but is positioned in the most favourable position with the most beach front for the size of the development. i do not work in anyway with this development but advise smart investors to take a look at the aakar development that is being sold by http://www.7cinvest.com/uae/aakarmarjan.php this is not the actual development as Marriott have now taken over but is going to be spectacular and wheras other developments are around the 1200 Dirham per square foot, this is similar, but is 6 star and is in a better location. Furthermore there are 2000 apartments in la hoya but there are only 300 exclusive apartments in this development making it very easy to sell on later. I know dozens of people who have bought terrible identikit apartments in massive developments in dubai and there is difficulty selling. Anyone who has done the research will take a wide berth of la hoya and blu mirage as these are both in terrible locations at the entrance without facing onto a beach and not cheap either for what is being offered. There are also 1000s of apartments very close together. The marriott development is also surrounded by town houses and villas and will have a premium location and make rental considerably easier. the apartments also face south west so gets excellent light all day. please do not take my word for it but definately worth looking into if you are looking to invest. i would be interested to hear otehr peoples experiences or ideas on the al marjan island development as it will take off in the next 6 months as the interest picks up.

February 18th, 2008, 02:12 AM	#100
martinfields Registered User Join Date: Feb 2008 Posts: 10 Likes (Received): 0	al marjan i was just opening a debate regarding prospects on the island. importantly about any investment is timing and i understand LHB is due for completion earlier than others. Personally the longer completion date the better for investors as this provides a longer period of time for which the island to develop and for prices to rise. developments a year ago were 900 Dirham a sq ft and several are now nearing 1300 per sq ft. Therefore investors have locked in 40% increases with little investment. lHB is one of the early developments so should experience good returns but the without direct beach access or being sheltered to some extent will reduce its true potential. blu mirage looks a little soulless. I am interested to explore other projects and viewpoints. I am not working for anyone but i have pointed out have 6 properties reserved spread across 2 developments and looking to add more to the portfolio for the right development. i have not to date invested in lhb but interested to consider viewpoints. The main reason for not investing in such a development is that i look for long development times so that price rises can be maximised as generally i sell before completion or shortly after completion.

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January 10th, 2008, 09:07 PM	#81
rags Registered User Join Date: Dec 2007 Posts: 380 Likes (Received): 0	Khoie's latest newsletter says that there is a surprise 'new element' to be announced in LHB in the forthcoming international property show in Dubai (Feb 17th). Just thought you all might be interested.

January 11th, 2008, 10:43 AM	#82
Monument Registered User Join Date: Nov 2006 Posts: 265 Likes (Received): 1	Surprises from Developers are often worrying - often to make up for something that has gone wrong!

January 11th, 2008, 08:23 PM	#83
Morrismarina Registered User Join Date: Nov 2005 Posts: 2,612 Likes (Received): 0	How does somebody get a copy of the newsletter ??

January 25th, 2008, 08:24 PM	#85
Yousuf27 Registered User Join Date: May 2007 Posts: 615 Likes (Received): 0	Does anyone have views about the possibility of a timely completion here? The contract seems to indicate that the contractor will want to go all out to avoid any lengthy delays. The late delivery penalty seems quite punitive and gives me some confidence that we might get these apts more or less on time.

January 26th, 2008, 11:05 AM	#87
Yousuf27 Registered User Join Date: May 2007 Posts: 615 Likes (Received): 0	I can't recall the exact wordings and I don't have the details with me - I'm travelling, but I remember the sales person pointing out to me that after the normal 6 months grace period the late delivery payments would kick in and in my case I'd be entitled to receive the equivalent of around GBP £1k per month; Thats on a one bed purchase It seemed to indicate the developer has really got to complete on time or within the grace period, because he isn't going to want to make compensation payments at that level.

January 28th, 2008, 02:48 PM	#88
beer51 Registered User Join Date: Nov 2007 Posts: 664 Likes (Received): 1	Hi Guys Far as i am aware no one in dubai has received any compensation for the delay in delivering the projects. Take JLT for example projects have been delayed for 2yrs and counting and not a penny in compensation. It might be different now as the money is kept in the Escrow account but i wouldn't bet on it. The contract you get from the developer is not worth the paper it's written on. Sorry to paint a dull picture but take it from someone who has experienced all this.

February 3rd, 2008, 10:15 PM	#89
Yousuf27 Registered User Join Date: May 2007 Posts: 615 Likes (Received): 0	Anyone know who is selling LHB units - apart from Block E. Select Property had an exclusive to sell Block E but they now seem to have taken the property off their website. Have all the blocks been released by now?

February 12th, 2008, 04:30 PM	#91
Yousuf27 Registered User Join Date: May 2007 Posts: 615 Likes (Received): 0	Hi Greg, - welcome! I have a 1 Bdr in Block E - and bought it through Select Property in the UK. My apt is described as having a sea/pool view, As far as I can see if you are "at the back" with a Regency view you must be overlooking the main road onto Marjan Island. Obviously beyond the road there will be a better view but during the various constructions going on over the next several years the main access road for the whole island complex could be quite noisy. I can't see that there would be much risk of your view being blocked though.

February 13th, 2008, 05:47 PM	#93
Yousuf27 Registered User Join Date: May 2007 Posts: 615 Likes (Received): 0	Greg - I've PM'd you a reply.

February 14th, 2008, 07:13 AM	#95
soennecken We will not be the last Join Date: Jan 2005 Location: Dubai Posts: 555 Likes (Received): 0	If any of you guys have more information or renders regarding La Hoya Bay please post them or send a link. Any info about Regency? Thanks Greg[/QUOTE] Greg please see my post 37 for the latest renders and you can also go to www.lahoyabay.com for floor plans. Soen

February 17th, 2008, 01:57 PM	#96
Yousuf27 Registered User Join Date: May 2007 Posts: 615 Likes (Received): 0	Any news on the "surprise new element" to be added to LHB? The announcement from Khoie was due today I believe?

February 18th, 2008, 12:03 AM	#99
Yousuf27 Registered User Join Date: May 2007 Posts: 615 Likes (Received): 0	Sorry Martin - this is pretty transparent mate! You work for them! This is neither better nor cheaper than LHB! You'll need to do better than that! The aspect is no better - LHB will have access to a beach, and what is the completion date of your recommended alternative? I'm happy with what I bought! I hope you'll be happy with your purchase too! Have a nice day.