Arabtec, a subsidiary of Arabtec Holding, has won a contract worth Dhs1.8 billion to build a mixed-use high-rise tower in Dubai.
Situated just a block away from the world’s tallest building the Burj Khalifa, the new tower will measure 369.1 metres high and will be one of Dubai’s top ten tallest buildings and the second tallest tower in its central business district.
Arabtec did not name the tower’s developer who had awarded the contract.
The 77-floor building will comprise over 22,000 square metres of office space spanning 18 floors, and 908 square metres of retail area. It will also include a new international 350-room hotel and 83 serviced apartments along with 180 luxurious apartments.
Construction of the tower, which will be designed by Atkins, is scheduled to begin mid-November and will take around 42 months to complete, the contractor said.
“This tower will be a quality addition to Arabtec’s already high profile backlog in the UAE and across the region,” said Hassan Abdullah Ismaik, managing director and CEO of Arabtec Holding.
“Our appointment to build this high-rise building in the heart of Dubai’s business centre is a strong endorsement of our unique capabilities in delivering high-quality complex structures.”
Ismaik added that the project is another sign of recovery in the UAE’s property sector.
The new tower will be the world’s 26th tallest building once it is completed in May 2017.
Arabtec has already built seven out of the world’s 150 tallest structures, including the world’s tallest man-made structure, the 830-metre Burj Khalifa.
The contractor is also involved in building a branch of France’s Louvre museum after bagging a Dhs2.4 billion contract from the Abu Dhabi government.
Arabtec’s other major projects in the country include the construction of Abu Dhabi’s midfield terminal and a Fairmont branded hotel.