Italian design house Gianfranco Ferre has signed multi-billion dollar deal to develop real estate projects with a fashionable flair. Ferre is partnering with Mideast-based GIO Developments on the deal, and the first project, called "Gianfranco Ferre Stresa," will be a mixed-use highrise in Dubai. The $1.2 billion tower will combine residential, commercial and hospitality spaces, and the partnership has dubbed it the first example of "concrete couture." Other similar projects are planned around the globe. Mr. Ferre himself, who was fittingly known as the "architect of fashion," died last year. The company bearing his name already has a strong presence in the region with existing stores in Dubai, Beirut and Istanbul and new openings planned for Bahrain, Qatar, Saudi Arabia and Kuwait within the year. Other design houses currently collaborating on Dubai developments include Versace, Christian Lacroix and Elie Saab.

Where would you auction off a diamond shirt? Where else but the Middle East? The $1.4 million diamond-studded top which was shown on the runway during Milan Fashion Week last February will go on the auction block in Dubai in December. The top was created with the late fashion designer Gianfranco Ferré and diamond company and DTC sightholder Dalumi.The top has more than 900 diamonds stitched along a sheer black vest. The over 300 carats of diamonds are of G color and VS or higher clarity and are set in white gold studs. One dedicated employee hand stitched each diamond on the shirt. No details have been released about the auction but I would love to see some of the proceeds go to charity,

At the Academy Awards people wore diamonds on their wrists, ears, necklaces and even shoes but no one had a little number like this, a diamond top worth $1.3 million. JCK reports that the top was shown off during Milan fashion week. It is represents a partnership between Gianfranco Ferré and Dalumi. The sheer black top is covered with more than 900 diamonds weighing more than 300 carats. The outfit was modeled by singer Skin and also featured tuxedo pants and a silk cape. The shirt will be on display at various events and may actually be worn on some occasions but is not currently for sale.