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.
"Dubai has carved its position as the house of fashion and design in the region. I see a strong correlation between Florence and Dubai, with both cities projecting elegance, art and design in everything they do, each in its own way. The new tower will embody Roberto Cavalli’s passion for beauty, design and his celebration of Italian craftsmanship. It will encapsulate the high-end luxury our fashion house has been famed for.”
The tower will feature New York style homes, with elevators opening directly into the apartments, providing utmost privacy. Units will be available in one, two, three and four bedroom penthouses.
The tower architecture has been designed by VX Experts while Dar Al Arkan has also appointed La Casa Engineering Consultants.
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