Saudi builder Dar Al Arkan announced on Tuesday its plans to expand to global markets, selecting Dubai as the launchpad with an AED800 million ($217.8 million) development on the Dubai Water Canal.
The company said it has partnered with luxury brand, Roberto Cavalli, to design the interiors of the 34-storey waterfront skyscraper. Construction is set to start next month.
Named “I Love Florence”, the new luxury tower will offer its residents an immersive living experience that combines the sophistication of fascinating Florence with the famed luxury of dazzling Dubai, the developer said in a statement.
Yousef Bin Abdullah Al Shelash, chairman of Dar Al Arkan, said: “Our solid track record in delivering 15,000 residential units and 500,000 metres of commercial space in Saudi Arabia for over 23 years will support our global expansion, which aims at presenting further diversification to our existing investors, as well as attracting international investors to our investment portfolio.”
Gian Giacomo Ferraris, CEO of Roberto Cavalli Group, added: “We are excited to be entering for the first time as a group to the real estate sector with the Roberto Cavalli brand, and we believe that the developer couldn’t have chosen a more suitable location for this project in the Middle East, where Roberto Cavalli enjoys a strong following. More info
By Staff arabianbusiness.com
