Serviced Apartments the Most Profitable Investment in Dubai
As a result of the rise in the tourism industry in Dubai, serviced apartments are rapidly becoming the most profitable investment with serviced hotel apartments in the lead. There are many of these projects underway throughout the city and not only are they designed to attract investors but also serve a growing demand as well.
Schon Properties, a major developer in Dubai, currently has four projects in various sectors with a new concept of mixed use. The Schon Business Park and the Dubai Lagoon Development are two examples of the success of the company’s vision. The Schon Business Park, leased up to 75% within five days. One of the main reasons for the high demand was the ideal location within Dubai Investments Park. The Investments Park incorporates office, serviced apartment, retail and recreational areas all at the same site, and is within close proximity to Dubai World Central, Jebel Ali Free Zone, and the Jebel Ali International Airport.
The four new projects will be designed with the same concept in mind. The new properties will accommodate small businesses and provide a work from home, home from work, type of environment with a unique combination of serviced offices and serviced apartments. The company predicts that the concept will prove popular as commercial rents continue to rise.
According to Daniel Schon, Vice President of Schon Properties, the four projects that are currently underway will allow people to utilize one space for their business and residential needs. This will solve the problem of rising rental costs that people and businesses face when moving to Dubai. Schon commented that serviced hotel apartments are definitely the most profitable due to the fact that Dubai is built on tourism.
As a result of extensive research conducted by Schon Properties, the investment offers a phenomenal return. Following researched based on ten year historical information of the tourism market, the investment has projected yields of up to 20% per year. This information is a result of research with the Department of Tourism and Marketing, the inflation rate, growth of the serviced apartment industry, and other determining factors.
Schön Properties is a newly established holding company that has several real estate projects in the United Arab Emirates. The company portfolio includes Dubai Lagoon a three billion Dirhams city built in the heart of Dubai Investment Park with over 6 million square feet of development area, 53 buildings consisting of studios 1, 2, and 3 bedroom and penthouse serviced apartments.
Schon Properties, a major developer in Dubai, currently has four projects in various sectors with a new concept of mixed use. The Schon Business Park and the Dubai Lagoon Development are two examples of the success of the company’s vision. The Schon Business Park, leased up to 75% within five days. One of the main reasons for the high demand was the ideal location within Dubai Investments Park. The Investments Park incorporates office, serviced apartment, retail and recreational areas all at the same site, and is within close proximity to Dubai World Central, Jebel Ali Free Zone, and the Jebel Ali International Airport.
The four new projects will be designed with the same concept in mind. The new properties will accommodate small businesses and provide a work from home, home from work, type of environment with a unique combination of serviced offices and serviced apartments. The company predicts that the concept will prove popular as commercial rents continue to rise.
According to Daniel Schon, Vice President of Schon Properties, the four projects that are currently underway will allow people to utilize one space for their business and residential needs. This will solve the problem of rising rental costs that people and businesses face when moving to Dubai. Schon commented that serviced hotel apartments are definitely the most profitable due to the fact that Dubai is built on tourism.
As a result of extensive research conducted by Schon Properties, the investment offers a phenomenal return. Following researched based on ten year historical information of the tourism market, the investment has projected yields of up to 20% per year. This information is a result of research with the Department of Tourism and Marketing, the inflation rate, growth of the serviced apartment industry, and other determining factors.
Schön Properties is a newly established holding company that has several real estate projects in the United Arab Emirates. The company portfolio includes Dubai Lagoon a three billion Dirhams city built in the heart of Dubai Investment Park with over 6 million square feet of development area, 53 buildings consisting of studios 1, 2, and 3 bedroom and penthouse serviced apartments.
Posted by Moveandstay
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