Skip to content Skip to Search
Skip navigation

Damac awards $241m main works contract for Cavalli Tower

By Pramod Kumar
Damac Properties
The enabling works for Cavalli Tower in Dubai Marina was finished in December 2022

Damac Properties has awarded the main construction contract for its 71-storey Cavalli Tower in Dubai Marina to China State Construction Engineering Corporation, the developer said in a statement.

The contract, valued at approximately AED886 million ($241.22 million), was awarded to finalise the main works construction of the high-end residential tower. 

The tower will feature premiere interior designs by Italian fashion house Roberto Cavalli, which was bought by the Dubai-based developer in 2019.

The tower was designed by Shaun Killa, who also designed the Museum of the Future in Dubai.

With a development value of nearly AED2 billion, Cavalli Tower comprises 436 units and includes a four-storey-high lobby, a Malibu Bay-inspired beach pool in the gardens and a la carte housekeeping service.

National Piling Corporation completed the enabling works for Cavalli Tower in December 2022.

China State Construction Engineering has previously worked on Damac Aykon City on Sheikh Zayed Road.  

Damac Group has developed around 39,400 homes and has partnered with brands such as the Trump Organization, Versace, Rotana, Paramount Hotels & Resorts and Radisson Hotel Group.

Latest articles

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

Flavio Cattaneo of Enel, of which Endesa is a subsidiary, and Mohamed Jameel Al Ramahi at the signing of the deal

Masdar buys stake in Spanish utilities company Endesa

The UAE’s state-owned clean energy company Masdar has agreed to acquire a minority stake in Spanish electric utility business Endesa to partner for 2.5 gigawatts (GW) of renewable energy assets in Spain. Under the agreement, subject to regulatory approval, Masdar will invest nearly $890 million to acquire a 49.99 percent stake in Endesa, with an […]

UAE markets Hong Kong

UAE capital markets partner with Hong Kong exchange

The Hong Kong Stock Exchange (HKSE) has added the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) to its roster of recognised marketplaces. The move opens the door for UAE-based companies to pursue secondary listings on one of Asia’s premier financial markets. It also follows the inclusion of the Saudi Exchange (Tadawul) […]

Person, Worker, Adult

Aramco and PIF invest in Saudi-Chinese steel venture

Saudi Aramco and the Public Investment Fund have doubled their investment in a steel plate joint venture with a Chinese company to $500 million. The two Saudi companies each own 25 percent shares in the new venture in Ras Al Khair industrial city, Bloomberg reported, quoting a statement published on the Chinese stock exchange. Chinese […]