Local real estate developer RAK Properties has awarded Sharjah Al-Hamad Contracting Company the estimated AED 430 million ($116 million) main construction contract on the Julfar towers project in Ras al-Khaimah.Located opposite the Hilton hotel facing the creek, the development consists of two 43-storey towers, which will comprise 349 apartments and 468 offices. Both towers will be built over a three-level podium with retail and food outlets. The buildings will have about 1,500 car parking spaces. The local/Swiss Arabian Forasol is working on the foundations package. Al-Hamad completed the site preparation works. The local Arenco is the consultant (MEED 24:2:06).