The local Al-Shafar General Contracting & Engineering Contracting Company has been awarded the estimated AED 270 million main construction package for a new tower project planned on Sheikh Zayed road by the local Al-Tayer Real Estate (MEED 31:3:06). Located next to the Burj Dubai development, the 55-storey residential tower will have a built-up area of 61,000 square metres with a 16,000-square-metre parking structure at the rear.