#PROJECT-Ras Al Khaimah: LA HOYA BAY RESIDENCE (Al Marjan Island) - Page 82 - SkyscraperCity
 

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Northern Emirates Projects in Ras al-Khaimah, Umm al-Quwain, and Fujairah


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Old April 4th, 2012, 09:23 PM   #1621
SayNoToRAK
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See

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Old July 16th, 2012, 08:56 AM   #1622
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Latest update http://www.khoie.com/properties/comp..._viewpoint.htm

Last edited by SayNoToRAK; August 27th, 2016 at 12:03 AM.
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Old July 16th, 2012, 09:05 AM   #1623
MANUTD
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I think you mean latest bulls##t dont you ??
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Old March 11th, 2014, 06:17 AM   #1624
soennecken
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Remember these heady days?

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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









When we were all so positive.
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Old March 11th, 2014, 06:31 PM   #1625
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Having been out to Al Marjan recently, the pyramid development by Rakeen at the beginning of Al Marjan is going ahead strongly. However the rest of the island is largely a blank place with no development. Including La Hoya.

So RAK government needs to revitalize the development and they are not focused on Al Marjan in the way they are on their Al Hamra project etc. Al Marjan is a marginal project to them at present.

Iain
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Old March 19th, 2014, 06:19 PM   #1626
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http://www.ameinfo.com/blog/company-...energy-sector/
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Old April 29th, 2015, 03:39 AM   #1627
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Dear La Hoya Bay sufferers: did you receive the questionnaire from Smart Real Estate announced by Frank Khoie a couple of weeks ago?
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Old April 30th, 2015, 10:17 AM   #1628
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Dear La Hoya Bay sufferers: did you receive the questionnaire from Smart Real Estate announced by Frank Khoie a couple of weeks ago?
yes i did !
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Old May 17th, 2015, 02:27 PM   #1629
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And then...?

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yes i did !
And then what? Were you offered anything?

I have called the Real Estate company and they said they NO LONGER have any agreement with Khoie ....!!!!

Please comment.
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Old May 26th, 2015, 06:02 PM   #1630
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UAE Investors Win £1.5m Failed Development Case

UAE Investors Win £1.5m Failed Development Case
September 15, 2014 By Jim Atkins
UAE Investors Win Failed Development Case

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Disgruntled investors who lost £50 million when a planned homes development in the United Arab Emirates failed have won a landmark court case for compensation.
Developer Khoie Properties took the money as deposits on homes that were to be built as The La Hoya Bay Residences in Ras-al-Khaimah between 2006 and 2008.
Around 700 investors staked the cash for the 1,000 homes planned for the resort.
None were built although the developer, Frank Khoie, bought one plot of land for the resort but handed over a £9 million cheque that bounced as payment for two further plots in 2009.
In the UAE, passing a dud cheque is a criminal offence. Khoie was subsequently jailed for a year for writing the cheque.
Landmark case
The development has never started. Khoie claimed the government refused to connect the land to an electricity supply, so he could not begin construction.
The case has passed through three courts and Khoie has lost each hearing.
Now, a class action by 35 investors has won an execution claim that means they can catalogue Khoie’s assets and sell them to meet their claim of £1.5 million compensation plus costs.
The legal firm leading the challenge, Judicare, claim this is the first case property investors seeking compensation for lost deposits have won in the UAE and that a precedent has been set for future claims.
“This is great news for property investors,” said chief executive Neil Heaney. “The court has clearly told developers in the UAE that if they have failed to build property for which they have collected a deposit that they must reimburse the cash.
Cancelled projects
“The decision is a huge boost for investors wondering what they need to do to try and secure the return of their money.”
Heaney alleges Khoie has done everything he can to delay the legal action and his claim that he could not build because of the electricity supply issue was found not to be true by the courts.
Lawyers for the investors in the case are now tracking Khoie’s assets and have threatened to take further legal action if the company is not worth enough to repay the deposits and costs.
The UAE government estimates around 220 property development projects were cancelled during the credit crisis, leading to a massive fall in prices which the country is only just recovering from.
Many of the developers fled the country and left investors millions of pounds out of pocket.
- See more at: http://www.iexpats.com/uae-investors....DwPY3RIo.dpuf
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Old July 4th, 2015, 01:21 PM   #1631
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EXCLUSIVE: Former Premier League football players among dozens of Brits 'conned' out of savings in £50million luxury seaview apartments scandal in UAE

• Ex-Liverpool player David Thompson lost £290,000 in UAE property 'scam'
• Two other top flight players also understood to have invested huge sums
• 700 investors including dozens of Britons lost £50million in deposits
• Iranian developer Frank Khoie was jailed in 2009 after £9.5million cheque bounced but was released a year later

http://www.dailymail.co.uk/news/arti...-scam-UAE.html
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Old July 26th, 2015, 01:40 PM   #1632
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I have just noted the last (useless) update from FK was in April 2015 and none since. Also the address is stated in Dubai. But when I checked Khoie.com the address is in RAK under contact us. But not sure if website has been updated as it still says 2014. Also FK usually sends greeting for ramadan (Muslim fasting month) and Eid greetings (eid was on Friday 16.7.15) and there was no email from FK. Does anyone know what is happening?
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Old May 9th, 2016, 04:11 PM   #1633
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Some investors have successfully completed the legal process against Khoie Properties and recovered their investment in full. It took six years but the success proves that the established legal process designed to deal with unscrupulous Developers who fail to perform their side of the contract, - can and does work. PM me if you want the name of the Lawyer who fought the case and won.
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Old May 31st, 2016, 10:45 AM   #1634
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can you please PM me?

Quote:
Originally Posted by Yousuf27 View Post
Some investors have successfully completed the legal process against Khoie Properties and recovered their investment in full. It took six years but the success proves that the established legal process designed to deal with unscrupulous Developers who fail to perform their side of the contract, - can and does work. PM me if you want the name of the Lawyer who fought the case and won.
Dear Yousuf,
I saw your post on Skyscrapercity and am interested to know what kind of cases have been won and if you can share details of the lawyer/s involved?

I've been stuck with a unit with Khoie with no hope to see it ever constructed.

I tried to PM you but Skyscrapercity does not allow a new member to PM.
I need to build a 'rep' here i guess first.

Appreciate your response. Thanks in advance.

regards,
Ali Shah
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Old June 3rd, 2016, 10:52 AM   #1635
Yousuf27
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LHB

Speak to Ashraf el Motei at Motei & Associates in Dubai. He will tell you exactly what the process involves. Good luck with it.
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Old July 8th, 2016, 06:34 PM   #1636
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LA HOYA BAY INVESTOR GROUP

Dear All, after receiving the last letter from Mr Khoie (June 2016) in which he is still promising to build (!), I have created a group of investors affected by Khoie Properties and to fight for our rights we need to gather as many investors as possible.
To join, please follow these steps:
Search "Google groups" --> select Browse --> search for La Hoya Bay Investor Group --> click on it and "Apply for Membership".
PLEASE JOIN !
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Old December 20th, 2018, 08:23 PM   #1637
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Hi I heard that the CEO of the developer company is trying to make us buy properties in Dubai that he is promising our money back as a discount form the new property if we pay for the rest. it is sarcastic as he is making as it seems a hefty commission on this sale again. could he think that we will fall for it again.
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