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Hi I am new to this thread, however I have been following it for quite some time! I thought that as nobody has added anything new for 6 days!! then I might as well. We bought a 1 bedroomed apt + car space for 45,000 Dhs in Bldg A LHB. I feel optimistic for the entire Al Marjan Island project. There is no doubt that all investors will be rewarded, some more than others! It really depends on your motive! We have lived in Dubai for the past 11 years and did not buy!!!! agghhhhhhhhh We bought in UK when Dubai just opened up!! This is our first plunge into the UAE property market! When I mention to people that we have bought in RAK they all say " Well done"! and they to are have a look!! Lets count ourselves lucky that we have invested at the right time! Of course Khoie now need to preform and alot of eyes are on them!:)
Agreed - the only issue, most likely, is Khoie's performance. And they need to perform well if they are to hit the big-time. They cannot afford to cut corners or disappoint buyers. They will have no future if they do that but will have a great future if they perform.
 

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Hi I am new to this thread, however I have been following it for quite some time! I thought that as nobody has added anything new for 6 days!! then I might as well. We bought a 1 bedroomed apt + car space for 45,000 Dhs in Bldg A LHB. I feel optimistic for the entire Al Marjan Island project. There is no doubt that all investors will be rewarded, some more than others! It really depends on your motive! We have lived in Dubai for the past 11 years and did not buy!!!! agghhhhhhhhh We bought in UK when Dubai just opened up!! This is our first plunge into the UAE property market! When I mention to people that we have bought in RAK they all say " Well done"! and they to are have a look!! Lets count ourselves lucky that we have invested at the right time! Of course Khoie now need to preform and alot of eyes are on them!:)
Hi,

If it is not too much, can I ask you how much did you pay per sq ft, which floor the apt is in and what is the view from the apt?

Did you visit the place where LHB is coming up and, if so, what was the status of the project and what is your feel?

Thanks.
 

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Irish Colleen,

My above post to you was on the understanding that you bought your apt lately. If not, please add info on when you bought it so that we can see your response in perspective.

Thanks.
 

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Hi Rags,

I don't have our contract with me but it was 800dhs +, per sq ft, I will check the exact amount. Ours is on the 3rd Floor, with a partial sea view and pool view!! Actually it is on the side that will be closes to " Pelican Bay". We can access that beach ( I was told by a foot bridge!!). We went 3 weeks ago to the LHB site. From the "Lakes" it took an hour and a half ( there is a short cut by Baracuda! but we missed it) Of course the show apartment is very impressive and there is evidence of construction!! We will need to monitor progress as our next installment is in September!! I'm not too worried if it goes into middle/end of 2009. Yeah we got a good feel for the Island, I am positive that it will be a rewarding investment and for many a paradise at the weekends and holidays!!:)
 

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We bought end of February 2008! I would like to consider that this is early enough!!!! How about you? LHB will be the showcase development for the entire Island!! The more developments, the more advertising, the more interest!!!
 

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OUr March 2008 trip

Hi All,

We just went out on site in March 2008, so are adding some photos.
The project is selling very well. Buildings A, B and C are almost sold out. Most of the sea/pool views apartments are gone now (that is what we have been advised by the developer Khoie). We have stock left on lower floors only.

Expect to pay around 1000 AED sq ft for sea/pool views. This is may be more expensive than other developments on the island, but you need to consider the payment plan and the fact that LHB will probably be the first development to complete on the island. In fact they have a clause in their Sales contract which specifies 1% compensation per month if the project does not complete within 180 days of the estimated date (Dec 2009). This is a rare clause in any UAE property contract!

We understand that once these are sold then buildings D, E, F will be launched in phases. Prices will of course rise as time goes on.



Khoie are the only developer on the whole of Al Marjan island that has completed piling work.



















The best thing about this development is that it is far ahead of its competitors and has a fantastic payment plan. 15% down, 15% in six months, then 70% on completion.

Brilliant!

I am sure you'll see lots more happening on Al Marjan Island over the coming year, but we are confident La Hoya Bay will be one of the first to complete their project, if not the first.
 

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We bought end of February 2008! I would like to consider that this is early enough!!!! How about you? LHB will be the showcase development for the entire Island!! The more developments, the more advertising, the more interest!!!
We bought it in Nov '07 which would mean you probably paid 7% more than I did as there was a 7% increase in Jan '08 and again now another 7% in Apr '08; unless of course you bought second-hand or you got an (unlikely) discount from Khoie.
 

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Prices & Agents

Hi. I am new to this development that looks like a good investment. I would be grateful if anyone can tell how much I could get a 1 Bed appt sea facing (with a car space) today and how much others paid for their. Would also be grateful if you could provide how details of the agents who are selling these.

Thanks
 

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Availability for 1 bed

Hi,

Cheapest one currently available on 1st floor on block c is currently 954,411 (sea/pool view) total 947 sq ft incl balcony(75 sq ft).

Most expensive 1 bed at present is 1,029,362 (front sea view) total 946 sq ft, (including 76 sq ft balcony).

Regency view apartments are as low as 880,669 for total 1026 sq ft (includes 179 sq ft balcony).

Of course prices will continue to rise. We have been advised that there will continue to be a 7% increase each quarter. The next increment is therefore due 1st June but could come earlier as demand is rising.

You can email us at Our Property World or feel free to call me on 07971 222038 for prices and availability. We are Khoie agents in the UK.

Parking is an additional AED 45,000.
 

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Hi Folks

Virgin poster on this site although I have bought in Dubai. Does anyone have some good info on Select Properties and Marjan Island and their developments. Their Standard Payment Plan is 15% down, 15% every six months and 10% on completin - Seems steep. 2 bed sea view - 1.3m 933 sqft (1041 sqft with balcony) Is LHB residences 1 or 2 beds better bet and still anything out there to buy today?
help apprciated
 

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Hi Folks

Virgin poster on this site although I have bought in Dubai. Does anyone have some good info on Select Properties and Marjan Island and their developments. Their Standard Payment Plan is 15% down, 15% every six months and 10% on completin - Seems steep. 2 bed sea view - 1.3m 933 sqft (1041 sqft with balcony) Is LHB residences 1 or 2 beds better bet and still anything out there to buy today?
help apprciated
Yeah... I understand there are quite a few apts (about 10 percent) available still in blocks A, B and C. The prices though have gone up in March and the apts are about 15-18 percent more expensive in comparison to Nov '07. The prices be put up again by 7% in June, I think.
 

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Discussion Starter #233 (Edited)
Danish Gardener,
Personally, I think B.A.B and L.H.B are the only seroius players at this point. Other developers are still "fine tuning" their designs and others dont have any land under them yet. I like the two bedroom apartments at LHB, they are well designed and spacious. I think the price per sq/ft is still below 1000 which makes a 1300 sqft apartment still reasonable. I believe the largest is 1600 sq/ft with a maids room. The one beds with turret are unique and I think this will enhance their value.
As far as which is the best investment? it depends on your budget. One beds may be easier to sell on but 2 beds are desirable as "keepers". The downside ,if you are buying to keep, is that L.H.B will be completed first, closely followed by B.A.B. well before the other developments. You will have to live with ongoing construction for a few years.
Soen
 

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completion

You will have to live with ongoing construction for a few years.
I was told that at least it will take till 2015 before all projects on this Island are completed. Till that time you will be among trucks and construction workers, who also enjoy the beach for other reasons. :)

If you look to the new resorts in RAK (Hilton, Hamra) they are all very good occupied. There is definetly a market for these projects in RAK.
 

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our property worid//im iterested in buying a studio aprtment part see view and a pool view.any idea about the prices now also do u guys have any agent in sydney austrlia
and if u not can u provide me with a contact number with countrey code.
cheers
 

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our property worid//im iterested in buying a studio aprtment part see view and a pool view.any idea about the prices now also do u guys have any agent in sydney austrlia
and if u not can u provide me with a contact number with countrey code.
cheers
Fyi, the last (about 3 weeks back) I saw was that there was only one studio apt available in Block C (Blue Marlin) amongst the first 3 blocks. It was apt 17 at 3rd Floor. It has a sea/pool view. It is a 597.40 sq ft apt with a balcony additionally of 43.06 sq ft. List price was AED 656315.

I understand the prices are likely to go up next week.
 

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Dear LHB investors

First of all, I am quite jealous of you guys. The project looks really cool, well done :cheers:

I am considering joing the club by buying a studio there but just had a couple of points in mind and would appreciate your comments on them:


1- how do you see the rental potentials (long term tenancy)- is LHB going to be more of a holiday/vacation destination (for mostly Dubai residents or other tourists) or could many (potential tenants) consider it as a permanent home?

2- RAK capital appreciation V Dubai capital appreciation (RAK doesnt obviously have all the infrastructure and other attractions of Dubai!!! which are some important factors for capital appreciation)

Thanks
 

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Hi guys

I have received a very worrying phone call last night from a UK agent who advised me not to buy in LHB as the developer has gone into liquidation???!!!

I am very concerned now... Has anyone heard anything similar? Or is it just unconfirmed rumours????

I will phone the developer today...
 

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Another update from me...

Just spoke to a developer and they confirmed to me that these are all rumours and that the company is not going into liquidation.

Also they plan to finish building first floor in Block A by the end of the month / within a month...
 

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Hi guys

I have received a very worrying phone call last night from a UK agent who advised me not to buy in LHB as the developer has gone into liquidation???!!!

I am very concerned now... Has anyone heard anything similar? Or is it just unconfirmed rumours????

I will phone the developer today...
Irishka,

Could you tell us all who the UK agent is? If he is spreading rumours, we must all boycott him for good after all.

Then again, who is the developer whom you spoke to who confirmed that Khoie is fine after all?

Regards.
 
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