NewsRakeen
Frank Khoie freezes La Hoya Bay
Frank Khoie, the jailed developer behind the US$800 million (Dh2.93 billion) La Hoya Bay project in Ras al Khaimah, has withdrawn his consent to let the Government of the emirate develop part of the project. Speaking from his cell, Khoie told The National that he now requires dismissal of charges as...
Khoie Properties ‘insolvent’, says CFO
Khoie Properties, the developer behind Dh2bn La Hoya Bay which was sold to Rakeen last week, is insolvent its Chief Financial Officer said on Saturday. La Hoya Bay is located on the man-made island of Al Marjan in Ras al Khaimah and was sold to 800 investors, of which 50 % are from the UK. The investors...
Khoie sells RAK projects to Rakeen
Khoie Properties yesterday confirmed the sale of all the company’s projects in Ras Al Kamiah to Rakeen. This includes the La Hoya Bay development in Al Marjan Island. “We will not be able to build any project in RAK now. Everything that we own in the emirate has been sold to Rakeen,”...
Bab Al Bahr piling works on track, says Rakeen
Rakeen, the master-planner and land developer of the Ras Al Khaimah government, that exercises environmental responsibility when planning and developing, has announced that it has recently completed the piling works for half of the residential component of the Bab Al Bahr and is set to proceed with the...
Rakeen announces sales launch of Bab Al Bahr Office Tower
Rakeen, the master-planner and land developer of the Ras Al Khaimah Government that exercises environmental responsibility when planning and developing, has announced the sales launch of the Bab Al Bahr Office Tower, one of the centrepiece projects within Ras Al Khaimah’s AED 1.2 billion mixed-use...
Work started on Gateway City
Ras Al Khaimah has started work on a multi-billion dollar new city, which will house 200,000 people and have its own mass rapid transport system, according to the daily Emirates Business 24/7. Rakeen, the real estate development arm of the Ras Al Khaimah Government, has commenced work on the project...
