Work commences on Marjan Island La Hoya Bay Residence project
The construction of the $800 million La Hoya Bay Residence project on Marjan Island, Ras Al Khaimah, has reportedly begun only two months after the initial project launch in September.
The $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, according to Khaleej Times. The appointed contractors are Torque L.L.C.
The project's developers, Khoie Properties, marked the occasion with a 'ground breaking' ceremony which took place on Marjan Island.
The event 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.
- RAK Court appoints Rakeen as judicial custodian of Khoie Properties
- Rakeen to commence Phase Two of infrastructure work on Al Marjan Island in August 2009
- Rakeen completes 80 per cent of infrastructure work on Ras Al Khaimah's Al Marjan Island
- Rakeen signs mortgage financing agreement with Bank of Baroda for Bab Al Bahr project
- Rakeen completes structural work and block work on Bab Al Bahr