Sungwon’s $300 million, mixed-use project at Culture Village will have a built-up area of 11,000 square metres and will offer 410 residential, commercial and retail units. The local Adnan Safarini is the consultant. Its $100 million residential project at Business Bay is a 20-storey tower with a built-up area of 5,000 square metres. South Korea’s Keunwon is the consultant. Sungwon may act as the contractor on one of the projects. The company is also planning a project at Sama Dubai’s Lagoons development, and is considering plans for other schemes across the federation and in Qatar.
Rani will invest $205 million in developing two 30-storey towers at Business Bay. One of the towers will house a hotel with 250 rooms and 40 furnished apartments which will be operated by India’s Oberoi Group, while the second tower will be for offices. The total built-up area of the two buildings will be 84,000 square metres, and completion is scheduled for the last quarter of 2008.