Sama Dubai has acquired a 46,000 m[sup]2[/sup] plot of land owned by Istanbul's Transport Authority in the Levent district of the city for $705 mln (EUR 528 mln), Italian news agency Ansa reported. The company, a subsidiary of Dubai Property Group, launched a bid significantly higher than the ones made by Fiba-Nurol's joint venture ($364 mln) and Zorlu Holding ($600 mln). Sama Dubai is planning to use the land to rise the Dubai Towers, a project that will cost about $500 mln. About 300-metre high, the towers should be completed by 2009.
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