Hi, Yes I have heard of it. I invested in 2006 and acquired a few units. Have sold nearly all of them in the last 3 months, I think the buyers from Dubai are now heading to Ras Al Khaimah.
I bought a selection of one beds and a townhouse. Have one of the one beds left facing the lagoon. The payment plan is attractive 55% on completion which is not bad.
If you need advice on this send me a private message - or contact me on mujteba at thaim dot co dot uk.