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There will also be a drop in horizontal visibility as light to moderate winds are expected, causing blowing dust
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Schon launches payment plan for Dh3 billion ‘Dubai Lagoon’
DUBAI — Schon Properties announced the launch of a construction-linked payment plan, which has been approved by the Real Estate Regulatory Agency (RERA) for the Dh3 billion ‘Dubai Lagoon’ project in Dubai Investment Park.
The newly-introduced scheme will ensure that payments will be made based only upon completion of the project phases, which will be monitored through a ‘Joint Monitoring System’ between RERA and developer Schön Properties. The announcement is in line with the developer’s plans to fast track construction of the project despite the global downturn, which has negatively impacted the real estate sector in the region.
At present, construction of the first four phases of ‘Dubai Lagoon’ are continuing albeit at a pace slower than planned, with Zone 1 recording the highest percentage of progress, with all building structures and block works complete. Zones 2 and 4 have reached the completion of each of their enabling works, while construction within Zone 3 is complete up to the second floor slab.
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