Schon plans Dh10b property portfolio

Dubai: Schon Properties has announced that it is pursuing an aggressive expansion plan, aimed at creating a portfolio of Dh10 billion worth of properties over the next two years, with plans to launch several new residential, commercial and hospitality projects in Downtown Jebel Ali over the coming weeks.

The news comes as the Dubai-based developer has seen impressive results with its projects launched to date: Dubai Lagoon, the Quartet residential towers, Schon Business Park and Schon Residences, which was pre-launched at the International Property Show last February.

Asher Schon, vice-president of Schon Properties, said, "This is a very exciting time in the UAE real estate market, especially in Dubai. Our philosophy at Schon Properties is based on responding directly and quickly to what the market is seeking, and we are now looking ahead with new projects that will serve market segments that were previously ignored."

"In this next stage, we are planning to launch new hotel apartment developments, as well as residential projects that continue our successful practice to date of meeting and exceeding our customers' expectations," added Schon.

Schon Properties was launched in Dubai in 2007, and is part of the larger Schon Group conglomerate. It managed to exceed Dh2 billion in sales in just six months, achieving eye-catching success in Dubai's real estate industry.