Schön Properties
Schön Properties logo
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| Private | |
| Founded | 2007 |
| Founder | Tahir H. Schön Nasir H. Schön |
| Headquarters | Dubai, United Arab Emirates |
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Area served
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Pakistan |
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Key people
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Tahir H. Schön (Chairman) |
| Products | Real estate |
| Website | schon |
Tahir H. Schön (Chairman)
Nasir H. Schön (Co-Chairman)
Danial H. Schön (President)
Asher Schon (President)
Schön Properties is a real estate development company located in the United Arab Emirates. It is part of diversified conglomerate Schön Group.
Schön Properties was founded and incorporated in 2007 by two brothers Tahir Schön and Nasir Schön. They started their business in Emirates due to high demand of property projects. This earned them huge fortune in booming city of Dubai.
Schon Properties and Al Hamad Group of Companies announced a joint venture to develop the $870m iSuites, which will see the development of 2,550 hotel apartments at Dubai Investment Park. iSuites is a 21 building project (2B+G+8), comprising 2,550 luxurious hotel apartments, 52 restaurants and cafes, and 125,000 square feet shopping mall called the Laguna Centrale Mall. The project aims to serve the shortage of 4-star hotel rooms close to the EXPO 2020, Al Maktoum International Airport, and Dubai Parks and Resorts. iSuites' total constructible area is upwards of 2.6 million square feet.
Schon Properties and Al Hamad Group of Companies held a ground-breaking ceremony for the iSuites Project on site in Dubai Investments Park, within a month of the announcement of their joint venture development.
Schon Properties announces phase one of $871m iSuites mega project sold out.
Schon Properties’ flagship project was Dubai Lagoon which also won a CNBC Arabian Property Award for Best Mixed Use Development. Dubai Lagoon was to be a residential complex located in Dubai Investment Park. The development would have covered 40 acres (160,000 m2) of land with 49 residential buildings comprising over 4,000 apartments with on-site amenities, however, the project was suspended well before completion. The Development has started again and branded the AVA Designer Residences with the first phase being delivered in March 2020.
Schon Properties transferred 2.33 million square feet of development at Dubai Lagoon to Xanadu Real Estate Development LLC, the move is part of the overall development of the Dh7 billion master-planned mixed-use project. The agreement involves the development of three phases of Dubai Lagoon, including Rowan, Lilly and, Winterberry developments by Xanadu Real Estate Development, a Dubai-based private developer. This restructuring was to focus on their iSuites project.
Launched in 2007, this office development is located in the heart of Dubai Investment Park featuring industrial, business, residential and recreational areas within the complex. Schön Business Park houses 410 offices with a capacity for 4,000 employees. Schon Business Park won last year’s CNBC Arabian Property Award for the Best Office Development.
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