Akar Properties is set to target high-end office building by developing a $150 million ‘Singapore Tower’ in Dubai’s Business Bay.
Set for completion in 2008, the Singapore Tower will have approximately 240,000 square feet of leasable space. It is design-ed by Singapore-based Ong and Ong Architects, according to Gulf News.
The move is seen as a sign of the growing business ties between the UAE and Singapore Akar has also targetedhigh-end office building in the past in Singapore and other Asian business centers.
"The Singapore Tower is made for Singaporeans and Asians, not only Singaporeans. We believe in our relationship with Singapore and we believe Singaporeans are closer to us as a relation," Sultan Hareb Al Falahi, CEO of Akar Properties, said in a statement on Friday.
"The UAE is a small country serving big nations; Singapore also serves huge Asian nations, so we are having something closer to each other," Falahi added.
