Italian firm plans $25b smart city in UAE

July 12, 2014 12:05 am

Italian company, Stile Italiano Real Estate Industry (Sirei), in collaboration with UAE partners, is proposing a $25bn (Dhs91.95bn) to $30bn investment to build a new smart city in the country, Gulf News has reported. “We are proposing the project in the UAE because our priority is to make it either in Abu Dhabi or Dubai. We have had some discussions with potential partners, but we have not come to a decision yet,” said Massimo Mazzi, president of Sirei, without disclosing names of potential partners.