South Korean construction firm Sungwon Corporation is set to launch its new $700 million project at The Lagoons master development in Dubai.
The project is the company’s its third in the emirate – it also has developments running at Dubai’s Business Bay and Culture Village.
Sungwon’s vice-president for the Middle East, Richard Lee, told Emirates Today that the company is “following the water” in Dubai, and progressing with its investments in the emirate.
“In July last year, we said we would invest $1.2 billion in Dubai over two years. Santevill [at Business Bay] and Santeview [at Culture Village] have accounted for $500 million,” he told the newspaper.
Sama Dubai is set to be the project’s master-developer, while HSBC has agreed to offer finance to buyers of Sungwon properties.
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