Preatoni acquires ‘Dubai Star Tower’ at Jumeirah Lake Towers

Dubai: Preatoni, a leading European property developer which recently launched Preatoni Real Estate company in Dubai, has bought a 100 per cent stake in Dubai Star Tower, which is under construction at Jumeirah Lake Towers (JLT).

Ernesto Preatoni, Founder and Chairman of Preatoni Real Estate, said: “Reflecting a rebound in investor appetite for JLT, this strategic acquisition is extremely delighting news to purchasers of Dubai Star Tower as the equity of their homes is automatically raised remarkably given the fact that work was resumed instantly to complete the construction of the project.”

Work is in full swing on the tower and the contractor, Al Rashad Contracting Company, is confident of completing the construction before 2015 ends.