South Korea’s Sungwon Corporation has won a AED300m ($82m) construction contract for a hotel apartment building in Dubai Sports City.
The 26-floor building is called The Cube. BMG Middle East Development, a subsidiary of Germany’s BMG is the client. It is the first project for BMG in the Middle East.
Construction work is set to start in March and the project is expected to be completed by the end of 2010.
It is the second contract awarded this week to the contractor, following the award to build the Silver Star Tower, a AED400m office tower in Business Bay. Germany’s Trend Capital is the client for that project.
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