La Hoya Bay-Al Marjan Island

Discussion in 'UAE Property' started by vanityfair, Nov 2, 2014.

  1. Jacqui Plews

    Jacqui Plews New Member

    I agree - I also invested in 2 apartments but i don't want to spend anymore money - however if the land has been sold (as previously suggested in the post above), then we must be entitled to some return - surely someone can advice how to go forward
     
  2. Bissime

    Bissime New Member

    Have you thought about contacting a Claims company and seeing if they can help?
     
  3. Yes I have explored all these options before. No claim company is interested without paying them a fee. I reckon writing to RAK government and putting pressure on them may be getting media involve perhaps a Facebook campaign just few thoughts. I don't mind putting some time but not any more money.
     
  4. Bissimi
    Not sure how you PM someone here but I am puzzled why you can't just state name of the company and I can then look it up etc simple!!!
     
  5. Great I have rung them and intend to pursue it for now will see what they are able to do. Thanks again. Has there been any successful claim against Pacific!
     
  6. Bissime

    Bissime New Member

    That's great news I am sure they will do all they can to get things sorted, if you are happy with what they achieve for you then maybe you can share the contact with others.
     
  7. SueinDubai

    SueinDubai New Member

    Hi Everyone, I am also an investor of a one bed in La Hoya Bay. I live in Dubai and have been trying for years to find anything out about LHB or how we can claim our money back. I spoke to a gent at Judicare in the UK and he said not to bother spending more money in legal fees to get our money back because there is no more money to be had. He said that of course we will win our legal cases again Frank-scumbag-Khoie but then we will still have to get the money out of him, and apparently he doesn't have any.
    I went to the LHB site a few months ago and there's absolutely no sign of LHB or Khoie... nothing!
    Also, I read all your comments about the auction of the land, but I didn't think Frank Khoie owned the land. I thought that was why he got slung in jail because he bounced one of the land payment cheques.
    It would be nice to hear from anyone with any other updates. I can't even bear to go to RAK because the thought of all the money I have lost just puts me in a bad mood!
     
  8. SueinDubai

    SueinDubai New Member

    If we do form a group of investors to approach the RAK government then please count me in too. I'm also happy to help out as I'm in Dubai, I just don't want to throw any more money at this situation.
     
  9. Sadly like many promises before this has also turned out to be total waste of my time. I don't know whether you have connection with the firm. But I guess it's for this reason forums like this one has become so useless as investors have become weary.
     
  10. I am happy to invest my time but sadly I am not great at tech knowhow. We could design a letter from individual investors with their details. Sign and scan it and send it to one person who can then print them and post it. Since you are Dubai based. You are best placed to do do this. I suggest we write to Dubai property watchdog as well as RAK. A lot of the developer are based in Dubai who operates project in RAK. Dubai should also ensure that their reputation is preserved etc. We can give investors in various forums few weeks to reply. We should act fast. Thanks
     
  11. Longterminvestor

    Longterminvestor Administrator

    I am not an investor in this project but I do read up on the Dubai real estate market and regulations - they were tightened to help protect investors. I will monitor this thread and am very interested to see what level of protection is now available or is it all talk by the Dubai authorities.
     
  12. Marina Harris

    Marina Harris New Member

    Me too. I called RAK municipality the other day and was told I should find a local lawyer and pursue the Issue. I am also interested in a joint claim.
     
  13. Marina Harris

    Marina Harris New Member

    We would like some information by other investors. Is there anything we can do to claim our money back? we don't want to write our money off.
     
  14. Marina Harris

    Marina Harris New Member

    Would also like to join forces so Count me in too.
     
  15. maccathal

    maccathal New Member

    I invested in the business village and i would like to join any group that is being set up. I got legal advice, around 18 months ago. It was that the cases would probably all be won, but Khoie has no money, or has it well hidden. The fact that so many of the investors, are from outside the UAE, means it is not as much of a problem for the RAK government, as if the majority of investors, were from UAE. I think our best chance of getting any help from the RAK government, is if we can somehow persuade them that the failure of them to act will seriously affect confidence from future european, American etc investors .I realise that this is a very simplistic view, but i think it is our only chance at this stage. I noted earlier in the thread that things have been changed to protect investors. Do any of the "Local" UAE investors, have any knowledge of any changes that were made recently, or do they have any contacts, in the RAK government ?
     
  16. vanityfair

    vanityfair Member

    First time I have looked at a property forum for a whilst, just depressing! In Dubai next week and thought I would see if anything new occurring at la Hoya bay. It is clear there is no money available from frank, so the only way I foresee gaining any funds back is if the land is auctioned and money distributed to investors. There appears to be no appetite for this to occur by RAKIA, until this changes the stalemate continues!
     
  17. maccathal

    maccathal New Member

    I was involved with another property scheme, in another country, which went the same way as LHB.It took almost 12 years to get a refund and it probably would never have happened, without the involvement of the FSCS in the UK. For the first 8 or 9 years, there appeared to be no hope of anything positive happening. In that case, we were all reasonably up to speed, with the status of the different plots of land, during those years. In the case of LHB, I am not up to speed with what has been happening. I have been assuming, given Frank Khoie's reluctance to refund anyone, that some land must have been sold, to compensate the people involved in the Judicare case. Does anyone know what the status of the land plots, is at this stage, ie has any of it been sold or has there been any court determinations of who legally owns the land at this point ? or has there been any activity by the courts or Rakia, in recent years ?
     
  18. Martin Bowker

    Martin Bowker New Member

    Hi
    I’m new to the forum but in the same boat as the rest of you guys
    Would love to fight for my money back
     
  19. Fola

    Fola New Member

    Hi everyone,
    I'm new to this forum but in the rocky boat like every investors of La Hoya Bay.
    I'm in Dubai right now because of my investment in the project.
    Just as everyone, no more corespondent or fancy appeal from Mr Frank and the office tel. is dead and London tel nos rings but no answer.
    Although I have been in Dubai office some years back but my visit yesterday (13/11/17) was unsuccessful because I could not locate the Dubai office ( because there was no proper address on the web-site or on the business card.)
    I went to the Police station, I was told that " it is a civil case -go to court and sue him in Arabic".
    The sad news is that situation like this is common in Dubai, at Dubai Police Station, I met an Arab man from Saudi crying, he told me that his investment was Dhs 5 million in property and he was told that the man he invested with has gone out of the Country because he has dual nationality. This story is my wake up to reality.
    Fellow investors !!! we need action not writing or repeating story because the only different is our investment but our story will be the same. The Police officer said "SUE HIM IN ARABIC" but one person action will not have much grand. I know some people have tried to fight at the initial stage but due to letters from Mr Frank after his release from Prison might have slow down their action then.
    I'm appealing to everyone to stand for action because it is a serious issue especially as majority were foreign investors, let us start something we might achieve something
     
  20. Pat o Grady

    Pat o Grady New Member

    I too Invested in This Project - Would love To Join Forces To Get This Resolved
    Its 8 Years Since We Handed Over Our Deposit - I would Follow This To The End If I Knew What To Do
     
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