Dubai Properties- a member of Dubai Holding, sold three plots of land worth US $ 100 million each to Korea's top construction firm, Bando Housing Corp, which will be constructing a US $ 350 million twin tower residential, commercial and retail development at Business Bay.

At the signing ceremony, Hashim Al Dabal commented on the agreement: "We are glad to sign this agreement with Bando, which is the first Korean firm to invest in the Dubai property market. We are proud of the confidence that international investors have shown in Dubai's real estate sector and in Business Bay in particular."

The project consists of two 50-storey towers and Bando will apply advanced technology and design to create 'new age' and 'intelligent' buildings that offer for the first time the region 'mobile home networking' capabilities.