(Dubai, UAE- December 13, 2017) – Dar Al Arkan, the largest listed real estate developer in the Kingdom of Saudi Arabia, announced today its plans to expand to global markets, selecting Dubai as the launchpad for its international business, with an AED 800 million development on the Dubai Water Canal in the Business Bay area. The construction of the tower is set to start on January 2018.
The company has partnered with the luxury brand, Roberto Cavalli, to design the interiors of the iconic 38-storey waterfront skyscraper, located in one of the world’s greatest urban destinations. Rightly 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.
A ceremony was organised in Dubai to launch Dar Al Arkan’s (DAAR’s) international expansion and its high profile collaboration with Italy’s topmost luxury fashion brand. The event was attended by Yousef Bin Abdullah Al Shelash, Chairman of Dar Al Arkan, Gian Giacomo Ferraris, CEO of Roberto Cavalli Group, in addition to a number of government officials, diplomats, dignitaries and investors.
At the ceremony, Yousef Bin Abdullah Al Shelash said “Dar Al Arkan, since its establishment in 1994, has been offering Saudi investors unique investment opportunities that enhance, protect their wealth and preserve it for the next generation. 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".
Towering over the 3.2 kilometres man-made waterway, the high-rise will feature stunning views of the canal’s vibrant outdoors, just like the views from Florence’s Ponte Vechioo upon river Arno. This is the first time ever that the iconic “Roberto Cavalli” fashion brand lends its name to a real estate development to present rich interiors and bespoke living spaces that reflect the core features of everything “Roberto Cavalli”.
Gian Giacomo Ferraris commented, “For the first time ever, Roberto Cavalli brand partners with real estate sector and we are excited about this. 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.”
The “I Love Florence” Tower, which will have unique views of the Dubai Canal, will feature for the first time in Dubai, New York style apartments, with elevators that open directly into the living room, providing utmost privacy. Units will be available in one, two, three and four bedroom apartments.
Yousef Al Shelash concluded: “When we set out to draw our vision to become leaders in global real estate development, we decided to settle for the best, therefore we chose Dubai Canal. Roberto Cavalli will create truly outstanding living spaces for the tower including lobby, gym, swimming pool, yoga area, outdoor training area, and hallways.
The tower architecture has been designed by VX Experts. DAAR has also appointed La Casa Engineering Consultants. Construction will start in January 2018.