Schon in Dh500m contract with Bin Sabt Building

Schon Properties announced yesterday that it signed a Dh500 million contract with Bin Sabt Building Contracting to handle the construction of remaining zones, four and seven, in its Dubai Lagoon project

Fully-fledged construction will start on zone four, which comprises 497 apartments, followed by zone seven, which consists of 490 apartments as well as a shopping mall with a built-up area of 109,263 sqft. Completion on both areas is pegged for 2011, at which time the entire Dubai Lagoon community will be completed.

Asher Schon, Vice-President of Schon Properties said: "We have been intensely deliberating over the search for a competent and efficient contractor to handle the remaining areas of Dubai Lagoon and are thrilled to be joining forces with Bin Sabt, who have a solid background of very high quality work and timely delivery."