UAE: Schon Properties, a private developer in Dubai, and Dubai Civil Engineering (part of Al Hamad Group of Companies), have broken ground on the iSuites project.
A joint venture single-site hotel apartment project, iSuites, is being developed at an investment of Dh3.2 billion ($871 million) in the Dubai Investment Park neighbourhood. It will be surrounded by a manmade beach and a lagoon spread over five acres.
Schon says the project is well positioned to host visitors to the Expo 2020.
Danial Schön, the founder and president of Schön Properties, said: “The ground-breaking ceremony within a month of our announcement of the joint venture reflects our strong commitment to expedite completion of the iSuites project prior to Expo 2020 and to contribute to the growth story of the UAE as a private developer.”
The branded hotel apartments will be managed by an as yet unamed international hotel operators.
Nashat Sahawneh, chairman of Al Hamad Group of Companies, said: “The ground-breaking ceremony is our first step towards completion of one of the region’s largest single-site development of hotel apartments. The move reflects our strong commitment to the project and we are determined to deliver it in time for Expo 2020.”</p
