Riyadh – Mubasher: Saudi Arabia-based Dar Al Arkan Real Estate Development has begun establishing "I Love Florence Tower" in Dubai in collaboration with the designer Roberto Cavalli.

Roberto Cavalli is the designer of the tower’s interior decoration.

The firm signed a contract with GFG Group to implement the tower’s ground and digging work, according to a statement on Sunday to the Saudi Stock Exchange (Tadawul).

The tower consists of 38 floors, residential units with private lift that includes one, two, and three houses, and penthouses.

In December, the major Saudi real estate firm kicked off an AED 800 million residential tower in Downtown Dubai, which is close to the Business Bay and Dubai Canal district.

The stock increased 2.34%, closing Thursday at SAR 10.94.