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Key Aspects of the Announcements
1. Golden opportunity to businesses planning to benefit from the Expo 2020 business opportunities
2. More than 400 office and retail units have been delivered for businesses to move in and get ready for the Expo 2020 opportunities
3. Investors can benefit financially from at least 11 per cent rental yield per year
4. Massive capital appreciation of assets as the pressure builds up before Expo 2020
Dubai - Schon Properties, developer of quality assets, is offering office space at the recently delivered Schon Business Park for companies planning to tap the growing business opportunities run up to the Expo 2020 – that will serve 25 million visitors in six months and create 277,000 new jobs in Dubai.
Located within five minutes driving distance from the World Expo 2020 site within the Dubai Investment Park, Schon Business Park offers tenants and investors 1.6 million square feet commercial space or 400 office and retail units either for long-term lease or rent – and set up their office – to benefit from the massive business opportunities.
Schon Business Park is a large scale commercial development which is offering a cluster of office spaces for different business types with a huge variation in their sizes (starting from 500 square feet), design and purpose. Segregated in different stages- Phase 1, Phase 2 and Phase 3, Schon Business Park office spaces has already been delivered and ready to move on.
Schon Business Park is a low-rising commercial project with each floor having a corridor length of up to 1.8 kilometres. If developed vertically, the project could have risen to 100 floors with an average floor size of 16,000 square feet.
The project offers the best return and security of investment, capital appreciation and pride of ownership.
“Companies located within the close proximity to the Expo 2020 site have a better chance to benefit from opportunities as it will save them from possible logistics issues,” Noorul Asif, Chief Operating Officer of Schon Properties, says. “That’s why Schon Business Park is ideally suited to cater to all those companies – be it sub-contractors, suppliers, fit-out companies, marketing companies, travel and tour operators, cargo agents, courier services, transport services, rent-a-car operators and event organisers.
“In fact there couldn’t have been a better commercial property available right now for those who want to serve Expo 2020 and Dubai South – the 140-square kilometre purpose-built aviation district that will host the world’s largest greenfield airport development with a design capacity to handle 160 million passengers per annum that will be built with an investment of $30 billion.”
Following the announcement in 2007 to develop a new airport city at Jebel Ali, Dubai Government has successfully created the Dubai Logistic City as part of the Dubai World Central project – later rebranded as Dubai South. Currently construction works on other residential, commercial and logistics facilities have been going on to ensure success of Expo 2020 mega event.
“In the next two to three years, a lot of businesses will shift to Dubai Investment Park and Dubai South. Organisers of national pavilions, sales and marketing companies and other companies will progressively set up their operations close to Expo 2020 site – that will push up the demand for more office space,” Asif says.
“Investors could own office units with a long lease with prices starting at Dh600 per square feet or Dh750,000 – by just investing six year’s rental value into office units. Rental yield could be more than 12 per cent per annum – higher than the average 7 per cent rental yield in apartments.”
Schon Business Park is close to Mohammed Bin Zayed Road – the main inter-state highway of the UAE – and ideally located to serve Dubai South, Al Maktoum International Airport, Jebel Ali Port, Jebel Ali Free Zone and Dubai South. Since the project has been delivered, companies with good credit rating could command a better finance deal to acquire the office units – that would be covered by the rental income.
Interested companies can directly contact Schon Properties sales team for a better price and location. Commercial units are being sold on first-come-first-serve basis.
“We have already leased out a number of units while the rest of the inventory is being snapped up by buyers as we speak,” Asif says.
About Schon Properties
Schon Properties, one of the top private real estate developers in the UAE, has an 8 million square feet development portfolio valued at Dh7 billion. The company has over 3,000 customers and as of October 2016 has successfully delivered over 1.6 million square feet of developments till date. Schon was the first company in Dubai to launch affordable housing targeting midmarket buyers, and the first company to introduce a post-handover payment plan.
Schon Vision 2020 entails focusing on sustainable income models via hospitality investments next to EXPO 2020. As a corporate policy, the company intends to retain its assets for sustainable income, as opposed to conventional methods of sales used by other developers. With a staff of over 400 and being vertically integrated, the company strives itself on corporate governance and best practices worldwide.
-Ends-
For Additional Information, kindly contact:
Mr Alaa Massoud
Vice President Marketing
Schon Properties
P.O. Box 111976, Dubai, UAE
Tel : +9714 4071000
Fax : +9714 3522400
Email : alaa.massoud@schon.properties
© Press Release 2017
