Riyadh – Mubasher: Saudi Arabia-based Dar Al Arkan Real Estate Development on Tuesday said it will establish skyscraper on Dubai Water Canal at a value of SAR 817.6 million (AED 800 million).

The Saudi real estate developer stated it chose Dubai to start expansion in international markets, according to a statement to the Saudi Stock Exchange (Tadawul).

Dar Al Arkan Real Estate Development partnered with Roberto Cavalli's trademark to design the skyscraper’s internal decoration.

The skyscraper consists of 38 floors.

On Sunday, Dar Al Arkan announced its plans to launch its first residential project in the UAE under the name "I Love Florence Tower", and the project will be implemented in collaboration with Roberto Cavalli's trademark.