Schon moves to allay investor concerns

Dubai: Schon Properties has come up with a final comprehensive schedule of its Dh4 billion Dubai Lagoon project in an effort to calm frustrated investors.

Investors said there was a distinct lack of refunds being given despite promises, leaving many out of funds. One investor has bought four properties since 2005 yet none is ready, so she is still paying rent.

"Three years is a long time to wait for an apartment, even in Europe. My family needs somewhere to live and we just want to stop wasting money on rent when we own four non-existent apartments," she said.