Sungwon Corporation to invest $500 mln in mixed-use project in Dubai's Culture Village (UAE/KR)

South Korea-based Sungwon Corporation are to invest approx. €348 million ($500 mln) in a mixed-use project in Dubai's Culture Village. The project involves a 32-story office tower and 40-story residential tower creating more than 400 apartments, and linked by a shopping podium.

The development will be launched in the latter part of April 2007. Sungwon meanwhile broke ground on its $109-million (approx. €76m) Santevill project located at Business Bay on the 1st of April. The 25-story residential tower offers 195 units which launched for sale in December 2006.

Source: Property World Middle East

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