Business | Property
Work starts on $300m designer tower in Dubai
Galadari Investment Office (GIO) and YOO (a Phillipe Starck and John Hitchcox-owned design company, yesterday launched a $300 million project in Dubai.
- By Suzanne Fenton, Staff Reporter
- Published: 00:28 April 18, 2008
Dubai: Galadari Investment Office (GIO) and YOO (a Phillipe Starck and John Hitchcox-owned design company, yesterday launched a $300 million project in Dubai.
The G-Tower project, located in City of Arabia, Dubailand, comprises a residential G tower and a commercial G office. It is YOO's first project in Dubai and the Middle East.
G-Tower, a 45-storey tower rising 280 metres, comprises 240 apartments with a a total sellable area worth $300 million.
Its gross floor area is 640,698.51 square feet. Construction has started and the project is set for completion in 2010.
"We have concentrated on translating ideas of art and culture into a physical structure, adding a new dimension to Middle East property development," said Rashid A.W. Galadari, chairman of GIO.
YOO has 45 developments underway in 22 countries. It has a portfolio of over $40 billion and a total built-up area of around 40 million square feet.
John Hitchcox, chairman of YOO, said the company is now looking to expand its development portfolio into the Far East.
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