Own A House - real estate market news

Italian fashionable house Gianfranco Ferre and company Galadari Investment Office (GIO) will construct in Dubai a magnificent skyscraper for 1,2 billion dollars. The height of skyscraper will make at least 60 floors.

The building will refer to Stresa and will become the inhabited and commercial premises. The termination of construction is expected in last quarter 2011.

Company GIO will borrow in civil work, and also will operate a building after its construction. House Ferre, which founder has suddenly died last years, will incur the responsibility for registration of skyscraper’s interior.

agreement on cooperation between the companies, signed, on June, 25th, the will allow the House to receive profit at least in 23 million dollars, and also to have on 10 % from cost of the real estate sold in a skyscraper.

Ferre mass-media representatives have told that the skyscraper has been named Stresa in honor of city, which the architect Ferre loved so much.

Designer Gianfranco Ferre has died in June of the last year of a hemorrhage in a brain. He has been named “architect” of the Italian fashion not only for its formation, but also for firm suits and blouses in strict, official style.