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Anita Henry, a British teacher who has invested in a one-bedroom apartment at Dubai Lagoons, now faces a double whammy. So does Purvi Beri, an Indian advertising executive, and many other investors.

The units they bought are delayed for two years and the developer, Schon Properties, is “stonewalling” them.

“It now costs me Dh8,000 per month to rent, as they have delayed this build,” said Henry. “Now, they have advised me of a December 2010 completion – how disgusting is that?”

She said her one-bedroom unit at Dubai Lagoons – a 52-building project at the Dubai Investments Park (DIP) – was scheduled for a June 2008 handover.

“They have no intention of compensating anyone. I had planned my kids’ schooling around this,” she said.

Major payment

“In 2007, I sold my house in the UK and invested that money in a one-bedroom unit at Dubai Lagoons for Dh480,000,” said Henry, who has paid more than 63 per cent of the property price.

Purvi Beri is in the same bind due to the delay. “I am stuck. I took out a bank loan for Dh250,000 to be able to buy this unit. I sold property in India to survive and take care of my son’s fees. Since my property has not been handed over as promised, I was forced to move to my sister’s place. Now, the developers are asking me to pay more, but I’m not going to because the construction hasn’t even happened.”

Asher Schon, Vice-President of Schon Properties, said, “The project has been set back a little, due to numerous reasons,” he said.

“Firstly, the expansion of the two-lane road into a six-lane highway took out about 40 metres off our plot. Secondly, there was an internal feud between partners of our first contractor so we replaced them. We negotiated with the Roads and Transport Authority (RTA), who were cooperative. We are also working with investors to move them into zones that will be completed earlier,” said Schon.

He added that none of their projects have been put on hold.

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2 Comments

  1. Is there any way out of this mess? I want Schon to pay back my deposit so I can do something with that money. I don’t want anything to do with their future projects. Anybody?

    • panj2017
    • Posted 13/02/2017 at 17:50
    • Permalink

    10 long years i have waited and these crooks have delivered nothing!!!Schon properties R fraud!


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