Dubai Lagoon FAQ

Schon Business Park FAQ

• What Is Dubai Lagoon?

Dubai Lagoon is set in charming, tranquil, and luxurious surroundings. The development is on 1.75 million ft² of land and has several low rise buildings consisting of studios, 1 & 2 bedroom and 3 & 4 bedroom penthouse apartments. Seventy five percent of the land is dedicated to landscaping, water, community facilities, and roads with a lagoon, waterfalls and fountains and pools serving as the main features. Additional facilities like a state of the art gym that has a purpose built exercise studio, sauna, Jacuzzi, steam room and tennis courts, plus an exclusive tenant’s health club facility will be available in the community.

• Where Is Dubai Lagoon?

Dubai Lagoon is situated in Dubai Investments Park near “The Green Community” with easy access to Sheikh Zayed Road and the new Emirates Road. Dubai Investments Park (DIP) is a modern, environmentally friendly mixed-use residential, recreational, business, and industrial development located in Dubai, UAE.
DIP is 3,200 hectares in size and is located in close proximity to all the major attractions of Dubai. It is approximately 3.5 km in width and 9.7 km in length. DIP is being developed, managed, and operated by the Dubai Investments Park Development Company LLC., a wholly owned subsidiary of Dubai Investments, a joint public stock holding company with a subscribed capital base of US$ 350 million. Location Map

Who is The Developer?

Town Centre Management Ltd.

• What Are The Facilities?

District cooling and state of the art air conditioning
Health club including sauna, steam room & Jacuzzi
Restaurants & cafes
Large landscaped areas
24 hour security
Mosque
Laundry
Supermarket
Swimming pools
Tennis courts
Ample parking – indoor & outdoor

• Is Dubai Lagoon leasehold or freehold?

It is leasehold for 90 years possession period

• Can I Sell My Property To A Third Party?

The property can be transferred to a third party subject to the payment of transfer fee.

• Who are the Contractors?

Dubai Lagoon is being built by Belhasa Engineering & Contracting Company LLC (BHECC) and Commodore Contracting Co. LLC.BHECC has undertaken a wide range of construction projects comprising - 5 star Hotels, Mosques, Multi-storey residential complexes, buildings for governmental institutions, shopping malls, multipurpose indoor sports halls, auditoriums, schools and office blocks. Since 1976 Commodore Contracting has constantly pursued the highest standards of quality and safety, creating a long and distinguished history with year on year growth and success. They hold numerous quality recognitions to their name, including the ISO 9002:1994, the ISO 9001:2000 and the ISO 9001:2005.

• What is the anticipated completion date?

The anticipated delivery of units in Dubai Lagoon is expected to start from 2012.

• Is Dubai Lagoon registered with the Land Department?

Yes. The registration number is 266/2007.

• Is Dubai Lagoon in compliance with the Escrow account?

Yes. The project is in compliance with the escrow account.

 

 

 

• What is Schön Business Park?

The SBP project is a timely response to growing demand for flexible, location-conscious and cost-effective office space in new Dubai. It is a unique complex of self-contained and versatile units, sharing high-tech facilities and retail space. The structure itself comprises of ground plus three levels. The ground level is primarily retail plus shell and core offices and the remaining floors are all shell and core offices.

• Where is Schon Business Park?

Schon Business Park is located in Dubai Investments Park (DIP). Location Map

• Where & what is Dubai Investment Park (DIP)?

Dubai Investment Park is located approximately 5 km from the upcoming Jebel Ali International Airport and with quick access to the motorways and Jebel Ali Port. A staggering Dhs. 5 billion has already been invested into the Park, making it one of the premier locations within the Middle East. The Park is fully self- supporting, with power and water supplies as well as other state-of-the-art amenities and services; an environmentally-friendly mixed use and self-contained city, which combines industrial, business, residential and recreational areas spread over 32,000 hectare site.

• Who is the Developer?

Schon Investment Limited.

• What does SPB include?

Food and Retail Shopping plus shell and core offices on the Ground floor.
Shell and Core offices on the first, second & third floor.

• What is the total number of units?

350 units in total.

• What is a Shell and Core office at Schon Business Park?

Shell and core means the bare Unit shell that will be let to the tenant, stripped back to bare concrete and devoid of any partitioning, fixtures and fittings, but includes all of the Mechanical, Electrical and Plumbing installations originally provided by the Landlord. This is the same condition that the Unit has to be returned to the Landlord at the end of the agreed tenancy period. This gives the tenant the opportunity to provide or subcontract the necessary finishing and decorations.

• Is Schön Business Park leasehold?

It is leasehold for a 60 year possession period.

• Is sub-leasing allowed?

Yes, any tenant has the right to sublease their leased unit subject to the payment of necessary transfer fee.

• What kind of license does a company need to operate in DIP?

To operate in DIP, one does not require a specific trade license and can operate under any of the commercial trade licenses issued in UAE.

Examples are Dubai Economic Department, Jebel Ali Free Zone Authority, and Dubai Airport Free Zone Authority etc.

• When is the Schon Business Park Completion Date?

The expected Completion Date is Second Quarter of 2012.

• Is Schon Business Park registered with the Land department?

Yes. The registration number is 384/2007.

• Is Schon Business Park in compliance with the Escrow account?

Yes. The project is in compliance with the Escrow account.