Dubai developer ties up with luxury Italian brand
Dubai’s real estate continues to attract global brands, with Italy’s Tonino Lamborghini becoming the latest entrant by tying up with local developer Oriental Pearls.
The Italian luxury brand has granted the developer the rights to use its brand for its Dubai projects for a minimum of 10 years.
The first project under the joint venture is Royal Pearls, which is located in Meydan. Spread over 4.6 million square feet, the development will feature over 7,500 freehold apartments, with the first phase to be delivered by 2020. Around 1,565 units will be developed in the first phase.
The agreement also grants Oriental Pearls the right to develop and operate Tonino Lamborghini branded clubs, lounges, restaurants, cafés, gyms, spas as well as Tonino Lamborghini flagship or mono-brand stores in the community.
“This is the first project in the UAE and in the region; we have launched 5-star hotels since 2012 in China and recently signed a deal in January in branded buildings there as well. For luxury and brand, Dubai is a major hub,” said Ferruccio Lamborghini, vice-president, Tonino Lamborghini.
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