Dubai – Mubasher: Schon Properties on Monday announced it sold the first phase of units at its isuits hotel project which is located in Dubai Investment Park and close to the Expo Dubai site.
The first phase of the project is a hotel complex consisting of three buildings comprising 292 furnished hotel apartments, and covering an area of 220,000 square feet.
In December 2016, Schon Properties revealed its plans to develop the project at a value of AED 3.2 billion ($879 million), including 2,700 hotel apartments.
The company expected the entire project delivery to end by 2020, ahead of the Expo 2020 launch, scheduled to take place during the last quarter of 2020.
Schon is considered one of the biggest real estate development companies in the UAE, with a portfolio of 8 million square feet worth AED 7 billion.
