Dubai – Mubasher: Schon Properties celebrated the continuation of the drilling works for the iSuites project, after a month of announcing a partnership with Al Hamad Group.

After the foundations for the project were completed, the drilling resumed, according to a statement.

Some hotel apartments in the project will be available to investors to take advantage of a 12% to 15% return on investment, founder and president of Schon Properties Danial Schon said.

In mid-April, Schon and Al Hamad signed a contract to develop the iSuites project at a value of AED 3.2 billion.

The project aims to provide four-star hotel apartments, near the location of the Expo 2020 Dubai, Al Maktoum International Airport, and Dubai Parks and Resorts, with an area of more than 2.6 million square feet.

Schon Properties, a property developer in the UAE, owns 8 million square feet and an investment portfolio of AED 7 billion.