Complex Made Simple

Khoie asks La Hoya Bay buyers to resume payments

Khoie Properties, the developer of a long-stalled project in Ras al Khaimah, has asked buyers to resume making payments on their unfinished apartments to help restart construction, The National has reported. The developer is offering in return to reduce the price of the apartments by 25% to 35% in the first phase of the Dhs2.5bn ($680.6m) La Hoya Bay development, which was originally scheduled for completion in 2008.