Rakeen

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Frank Khoie, the jailed developer behind the US$800 million (Dh2.93 billion) La Hoya Bay project in Ras al Khaimah, has withdrawn his consent to let the Government of the emirate develop part of the project.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,”...