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