RELEASED ON: Monday 21st July, 2008

Khoie Properties, the real estate arm of the $2 Billion UAE-based Khoie Group, was one of the early movers in the Ras Al Khaimah property development market when the company announced the Dh1bn La Hoya Bay in Al Marjan Island development. In addition, Khoie Property has gone on to acquire land worth Dh 750 Million across Dubai and Abu Dhabi will announce Dh 3 Bn worth of projects in the two emirates by the end of this year.

The group is also branching out into the financial sector with the subsidiary called Khoie Finance, which will be registered at the Dubai international Financial Centre (DIFC).

Mr Frank Khoie, Chief Executive of Khoie properties and Group, said:
“ The paper work is still underway and we hope the final approvals from DIFC will come through by early 2009. We already have in-house financing options but we are looking to set up some thing on the lines of what finance companies in Dubai are offering.”

Besides Khoie properties and other group subsidiaries include Khoie Constructions, Khoie Trading, Khoie Industries and Khoie Education.

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