“The first zone of the project is anticipated to be delivered by November 2015 followed by others. The whole project could be complete by 2017,” said Yeasin Syedur Rahman, customer service manager of Schon Properties.
Schon Properties last June had secured an investment of AED339 million from the Dubai-based Xanadu Real Estate Development for the completion of the AED3 billion project – more than six years after the delivery deadline.
“A lot of positive development has happened this year. The investment agreement is signed, a new contract awarded to carry out the construction work and work at the actual site is already in progress, especially in Zone 1 where the buildings are almost complete except for the interiors,” added Rahman.