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Date: 15/12/2008

First eight properties of Dubai Lagoon realty project to be ready by Q4 2009

Dubai-based property developer, Schon Properties said that first eight buildings of Dubai Lagoon real estate project will be ready in the fourth quarter of 2009. Company chiefs said they are moving full steam ahead on all current projects within the portfolio, despite the market slowdown.

Danial H Schon, vice president, said: "2008 has been a challenging year in more ways than one, but we are confident that the new year will bring many positive developments and are taking measures to reinforce our market presence by creating value-added services such as a facilities management division and the recently launched subsidiary company NOHCS Property Advisory."

Other properties including Schon Business Park, Schon Residences, Schon Suites and Libertas are also moving ahead as scheduled, he added.