Arabtec announced in March that it had been awarded a contract to develop a $300m residential project in Dubai, without revealing the name of the project.
The contract involves the construction of two 50-storey towers with a total area of approximately 227,800 square metres. The contract during is about 18 months.
Before the Arabtec award, the local Wasl Asset Management Group had invited companies to bid by 10 April for the contract to complete the towers. It is understood that tender was cancelled.
Located on Dubais Sheikh Zayed Road in the Business Bay area, the project involves the construction of two steel frame towers with a height of about 212 metres each.
The residential towers consist of 846 apartments and eight penthouses, as well as recreational facilities including a gym and a pool.
The consultant is Frances ADPI.
The project had previously been developed by Zabeel Properties. The local developer had appointed Arabtec as the contractor. The project was put on hold in late 2008.