Schon Properties unveils hospitality division
Dubai, May 4, 2008
Schön Properties has established a hospitality division that promises steady returns on funds invested in Schön Suites, a 196-room hotel apartment consisting of standard, executive and deluxe rooms.
The property is ideally located only minutes from the upcoming Maktoum International Airport at the heart of new Dubai.
This new airport is expected to attract a staggering 40 million travellers per year. With current hotel occupancy levels in Dubai at 84.2 per cent, already the highest in the world, industry experts foresee a major shortage of hotel space in Dubai in the coming years.
Schön Suites is well positioned to take advantage of this situation and is offering investors a unique opportunity to benefit from it.
“How it works is that Schön Suites will be rented on a daily basis by the hospitality division of Schön Properties. The rent is split proportionately between all the owners of the property, which is supervised by an independent auditor to ensure complete transparency. In addition, a fully audited financial statement will be furnished to all investors that will reflect the performance of the property,” said vice-president, Schön Properties, Danial H Schön.
“Aside from a purely investment proposition, investors can also look at Schön Suites as an investment into a second home in Dubai - a home which is managed for them by Schön Properties and a second home in which they can stay for 22 days every year as well,” added Danial.
Given tourism numbers that are bound to increase even more in the next five years, Schön Suites affords investors the security of steady income and return, which could reach up to as much as 20 per cent.
The investment also provides additional perks, such as residence visas for investors, as well as free stay at the hotel for 22 days, subject to advance reservation and availability.
“We have successfully pursued our property development plans on the principle that our projects are located in areas that have further potential for development. As a matter of fact, some of the properties we have launched have already appreciated in value by as much as 50 per cent upon turnover,” said vice-president, Schön Properties, Asher H Schön.
Schön Suites has been designed with the needs of the international traveller in mind, whether it’s for a stay of just a few nights, or for a longer duration. Each floor has six standard, seven executive and one deluxe room, which enjoy a full range of facilities and amenities. – TradeArabia News Service