On Yas island, the contractor is working on the substructure for a flagship hotel that will straddle the Formula 1 race track.

On the Al-Raha beach project, Al-Futtaim Carillion is in negotiations for the contract to build the Al-Muneera precinct.

The contract for the Yas island hotel has yet to be signed, but it is understood to be worth in excess of AED1bn ($272m).

The landmark hotel is one of seven planned for the AED147bn Yas island scheme, and all must be completed in time for the first Abu Dhabi Grand Prix, which is due to take place in late 2009.

Three contractors are working on the remaining six hotels.

Aldar formed a joint venture management contracting company for Yas island with Belgium’s Besix earlier this year. Under the terms of the agreement, the joint venture is responsible for delivering the shopping and entertainment projects, including the Ferrari theme park infrastructure and the hotels.

Al-Muneera precinct will be a mixed-use waterfront district and will include two circular apartment buildings on a reclaimed island, a series of other, mid-rise apartment buildings, low-rise town houses, a 14-floor commercial building, retail outlets and community facilities.

The client at Al-Raha beach is Aldar Laing O’Rourke