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Schon keeps investors on old payment schedule
- United Arab Emirates: Tuesday, September 16 - 2008 at 09:31
Dubai-based developer Schon Properties says payment rescheduling is not under consideration for the Dubai Lagoon project, despite comments by an official from the emirate's Real Estate Regulatory Agency on a local radio station, reported 7DAYS. The Rera official told the station that payment schedules should be aligned to construction timetables. However, the project is now scheduled to finish construction in phases across 2010 to 2011, and investors remain on payment plans based on previous construction schedules. Schon said it could not reschedule because 'it would cause further delays in the project'.
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Jeff Florian, Senior ReporterTuesday, September 16 - 2008 at 09:31 UAE local time (GMT+4)
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