Fendi and the BinLadins come together: BinLadin group awarded $94 million luxury tower contract
Damac Properties announced that it has awarded the main construction contract for its Riyadh project, Damac Esclusiva Luxury Serviced Apartments to construction company Haramain Gate.
The SAR353 million ($94 million) contract has been awarded to construct a 150 metre high, luxury serviced apartments tower in the strip on King Fahad road whose interiors will be designed by Italian fashion house Fendi.
“Damac Esclusiva Luxury Serviced Apartments in Riyadh are being made available by invitation and pre-approval to a limited number of VIP’s only, reflecting the quality and refinement on offer,” said Niall McLoughlin, senior vice president at Damac Properties. “We believe these will be the most desirable serviced apartments available anywhere in the Middle East.”
The real estate developer announced its regional strategic tie-up with luxury global brand Fendi in February, to provide interior designs on projects in Riyadh and Dubai.
The two companies will also partner on the interiors for exclusive private apartments in Damac Residenze in the Dubai Marina.
In the last year, Damac has launched a number of luxury properties in Dubai in partnership with global brands.
The company is developing Damac Towers by Paramount, a $1 billion hotel and luxury serviced residences in Downtown Dubai, which will comprise the first Paramount hotel and residences in the region.
In May 2013, Damac announced the launch of Trump International Golf Club at its master plan development ‘Akoya at Damac’ off Umm Sequim road, which includes mansions, villas and luxurious apartment units.
- Good news for Dubai's real estate as deals boosted by $31 billion
- Sale prices in Abu Dhabi's residential property sector up by 17 percent in H1
- Unholy spending? Luxury leasing options on the rise in Mecca
- Ajman: a viable, more affordable property market?
- Putting things in perspective: how many apartments in the Middle East can Ronaldo buy with his World Cup salary?
- Revolutionary: DAMAC properties introduces Fendi-styled villas
- Dubai’s luxury Loretto apartment complex sells out in one night
- DAMAC Properties announces the launch of its 19th development “Lago Vista”
- Park Avenue at New Cairo Construction Contract Awarded by DAMAC Properties
- Damac teams up with Ivana Trump for Beirut's 'La Residence' tower