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| 30 November, 2016

Schon Properties launches $875m hospitality project in Dubai

Image used for illustrative purpose.
Labourers work at a construction area in Dubai .

Image used for illustrative purpose. Labourers work at a construction area in Dubai .

REUTERS/Ahmed Jadallah

Schon Properties announced the launch of AED3.2 billion ($875 million) iSuites hotel apartment project in Dubai Investment Park.

30 November 2016

Dubai-based real estate developer Schon Properties announced on Tuesday the launch of 3.2 billion dirhams ($875 million) iSuites hotel apartment project in Dubai Investment Park, near Dubai South.

The single-site development consists of 21 mid-rise buildings housing 2,550 hotel apartments, 52 restaurants and cafes and 125,000 square feet Laguna Centrale Mall, according to a company press statement.

Dubai Civil Engineering is the main construction contractor for the project, the statement said, adding that construction works started in October 2016 with project completion scheduled for Q2 2020.

According to the statement, the company has an eight million square feet development portfolio valued at seven billion dirhams.

© Zawya Projects News 2016