Located in Dubai, UAE and Riyadh, Saudi Arabia, respectively, the two towers will comprise more than 100 serviced apartments, each boasting a lavish interior designed by the LVMH-owned Italian brand.
Slated for completion in 2016, together the projects will cost in excess of $545 million to build and are currently around 20 per cent complete.
The Damac’s tower in Dubai, which hosts the world’s tallest skyscraper, will overlook the Dubai marina and a palm tree-frond shaped island.
Both towers are owned by Damac Properties Co., which is financing the projects with its own money.
Founded in Rome in 1925, Fendi has grown to become one of the world’s most famous fashion brands. Last month Fendi announced it is to donate €2.1 million to the restoration of the iconic Trevi Fountain in its birthplace of Rome.