Dubai: Catering to a new niche market, Schon Properties on Tuesday launched The Signet, a Dh465 million project for commercial and residential use in Downtown Jebel Ali.
Said to be a new concept of "home-office" in the property development market, the tower will be completed in June 2011, Danial Schon, vice-president of Schon Properties told Gulf News.
Regarding the laws prohibiting offices in a residential tower under normal circumstances, Daniel Schon said, "Jafza is the most open free zone around and we have full authority to carry out this concept," he told a media roundtable.
Designed by Mimar Emirates, the project will have 17 floors with a total of 273 units.
They will comprise 91 one-bedroom apartments to be sold for about Dh1.5 million, 14 two-bedroom apartments for about Dh1.8 million, 80 studios for almost Dh1 million, seven loft home offices for about Dh8 million and 18 home offices for almost Dh3.5 million.
The residential apartments are priced at about Dh2,400 per square foot, home offices at Dh3,800, and loft offices at about Dh3,100, according to Asher Schon, vice-president.
"The prices are extremely affordable considering there is no other product of this kind on the market," Asher Schon said.
