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China’s Oriental Pearls reveals 8,000-unit, Lamborghini-branded Dubai development

China’s Oriental Pearls reveals 8,000-unit, Lamborghini-branded Dubai development

The project is expected to cater to investors in the UAE, India, China and Saudi Arabia

Chinese developer Oriental Pearls has released the first renders of a major Tonino Lamborghini-branded real estate development being built in Dubai.

The company said the project, which comes under a multi-million dollar deal with the Italian brand signed in May, would span 4.6 million square feet in total in the Meydan area of Dubai.

Read: Dubai developer Oriental Pearls signs branding deal with Tonino Lamborghini

It will include 8,000 units with smart technology and home automation services as well as landscaped gardens, retail and climate-controlled community spaces.

“We are delighted to announce that we are a step closer to fulfilling our vision of delivering upscale and bespoke homes for the modern consumer,” said Oriental Pearls CEO Ma Guolong.

“We are seeing a demand for luxurious and well-designed homes in Dubai – and we are proud to announce that with Tonino Lamborghini Residences Dubai we will be able to add an inventory of premium apartments to the market.”

The project is expected to cater to investors in the UAE, India, China and Saudi Arabia.

“Furthermore, given its location in Meydan, we are confident that it will provide the ideal home-base for residents and investors who embrace progress, with future-ready infrastructure, amenities and convenient and advanced services,” added Guolong.

Tonino Lamborghini was founded by the heir of the Lamborghini family in 1981 but is a separate company to the famous car brand.

In a visit to the region in 2014, Tonino Lamborghini CEO Gianluca Filippi said the brand had plans for hotels and retail stores across the Gulf Cooperation Council.

Read: Exclusive: Tonino Lamborghini Plots GCC Hotel And Retail Expansion

To date the brand has for four hotel hotels in China and has recently launched a real estate development.

The Dubai real estate market is currently going through a downturn linked to limited demand and new supply. Prices fell 7.4 per cent in the third quarter of 2018 from a year earlier, according to the UAE Central Bank.

Read: Dubai property prices down 7.4% in Q3 as UAE job growth slows – central bank

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