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Khoie Properties denies insolvency reports
- United Arab Emirates: Wednesday, September 30 - 2009 at 12:26
Dubai-based Khoie Properties has issued a statement denying recent reports of financial difficults surrounding its La Hoya Bay project in Ras Al Khaimah. The developer said it remains in control of over Dhs1bn assets in land and Dhs700m in receivables on account of its ownership of the Dhs5bn project. Company officials are positive of completing construction of the project, given that piling and foundation works have been completed for several buildings, the statement added.
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StaffWednesday, September 30 - 2009 at 12:26 UAE local time (GMT+4)
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