Dubai – Mubasher: Sobha Group plans to establish a new tower on Sheikh Zayed Road in 2019.
The 60-storey tower will be completed within four years, and construction work will take place by Sobha’s in-house contracting arm in July or August, Construction Week reported.
The project’s total cost amounted to AED 700 million ($190 million), the Dubai-based real estate developer said.
Sobha’s founder and chairman, PNC Menon, said that the skyscraper will have more than 6,500 square metres of office and 1,850 square metres of retail space, plus 140 luxury residential units.
“I want this building to be extraordinary and iconic in terms of its architecture,” Menon added.
The new tower may yield up to AED 1 billion ($272 million) in revenue.
