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MEEF - Middle East Projects News & Analyses - previous page

Khoie Properties breaks ground in RAK

Source: Property World Middle East Sunday

The occasion was marked by a “Ground Breaking” ceremony which took place on Marjan Island, the site of the development, and was attended by senior dignitaries from RAKIA (Ras Al Khaimah Investment Authority) as well as RAKEEN, the private joint stock property establishment in charge of master developments on Marjan Island. The USD 180 million phase one of the six phase development consists of 725 freehold studio, one, two and three bedroom apartments and on site leisure amenities and is due for completion in March 2008. The appointed contractors are Torque L.L.C. the established UAE company specialising in advanced foundation, marine structure and shoring works.

Mr Frank T Khoie, Chairman and CEO of Khoie Properties, commented on the launch, “We are both delighted and proud of commencing work on this project in such quick procession after the launch. This was a landmark occasion for us as it inaugurates the start of a dynamic construction period that will see the project successfully through to completion. It also acts as a clear indicator that the project will be completed on time and delivered to our buyers to the highest quality and standards.”

With magnificent sea views, the Mediterranean style development encapsulates the spirit of sought after Riviera style living with the advantage of all year round weather, but situated in the heart of the Middle East. It also provides both buyers and investors from all over the UAE an alternative waterfront residence and weekend retreat.

Dr Imad Haffar, COO of RAKEEN said “Ras Al Khaimah is experiencing an unprecedented boom and becoming a highly attractive destination for tourists, businesses and investors alike. This is a visionary Emirate with a progressive pro-business government that encourages investors from a wide gamut of industries such as tourism, manufacturing, engineering, commerce, leisure and recreation. With a highly developed structural and logistical infrastructure, coupled with an advanced legal system, Ras Al Khaimah is on a bold and sustainable track to becoming the place for the perfect work-life balance.”

Only 45 minutes from Dubai, the charming, tranquil and luxurious waterfront apartments of the La Hoya Bay offer the ultimate in contemporary living, with Smart Home technology, multiple security systems, professional house keeping service and a 24/7 concierge to attend to resident’s every wishes. The development also places great emphasis on leisure and recreation with water front restaurants and coffee shops, a five star health club and spa, on site tennis club, and temperature controlled swimming pool. Residence will also enjoy a free lifelong membership to the La Hoya Bay Golf Club, an 18-hole golf course. For buyer’s convenience, there are several attractive financing schemes available, including a 75% package, available through major banks who will provide flexible payments terms.

About Khoie Properties Ltd:

Khoie Group today is the amalgamation of several companies that Frank Khoie has built over the last 32 years. It started with humble beginnings when Khoie, back in 1973. At the age of 24, Frank started his first company IPC Engineering involved in industrial projects design and development in the golden years of Tehran, Iran. By 1975 IPC had formed two joint venture partnerships with HDR, an American architectural and design firm and Pipeline Technologies, a major oil pipeline engineering company. It was through these relationships that Khoie set up Sood Industries in Los Angeles California and Sood Investment to expand the group’s interest into land development projects.

By 1980 Sood investments had several projects in its portfolio and Sood Industries had moved into the technology sector by setting up FreeMax - its brand name for CNC machine tools production operations - which expanded into CAD/CAM software development and its inevitable hardware component which had entered the market as IBM PC.

By 1985 Frank Khoie started a computer brand under IMI and moved forward with setting up a sales office for personal computers for machine shops in the U.S., markets and sales being successful enough to consider assembly of its own machines under the brand IMI computers worldwide. By 1990 IMI Electronics was established in Singapore. At the same time Sood Investments in Los Angeles, California continued with property development activities in Southern California. In 1997, the group began automotive parts manufacturing in Iran where Neekon Automotive was established and acted as pioneer in the automobile Air Conditioning industry for Iran´s National Car.

In 2001 Frank moved to Dubai and established Maxam Publishing House and by 2002 established Khoie Control Systems as a specialist MEP sub-contractor, Khoie Power LLC as main contractor with emphasis on MEP works, Khoie Properties as its property development arm and Khoie Real Estate as its real estate marketing arm.

In 2005, Khoie Investments Ltd was incorporated in London as the group´s capital management arm. Khoie Group, through its land development arm Khoie Properties, now pursues plans to penetrate the Unites Arab Emirates market and a number of other countries through carefully targeted projects within the framework of an ambitious contemporary plan for the future.

Khoie Properties is involved in construction of real estate projects distinguished by a clear vision that relies on accurately selecting the unique location and careful target marketing. It also sets itself apart by adopting a niche marketing strategy focusing on competitive sale prices that are within the reach of many people for title ownership or investment. In all its dealings, Khoie adopts a strategy of transparency and maintains credibility, which it considers to be its most remarkable and main characteristic assets.

Khoie Construction has successfully concluded a number of MEP projects in Dubai, and Khoie Properties is negotiating with master developers such as Nakheel, Emaar and Dubai Properties for larger scale projects. This has enhanced its standing and been a factor to various potential real estate opportunities.

Khoie´s niche marketing strategy and value driven approach to architectural solutions is clearly reflected and signified in the 20 story residential Al Noor Tower project in Ajman that has a value in excess of AED 100 million. There is a further AED 800 million in projects on the drawing board. The carefully structured development program will become apparent in several promising projects in the United Arab Emirates that will be offered for sale to investors over the coming months.

Khoie Properties Ltd's contact details:
Phone: +971 4 3384845
Fax: +971 4 3384846





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