Arabtec Holding has announced that it has won a AED2.59bn ($706m) contract to build a mixed-use development on Abu Dhabi’s Reem Island.

The project, which was awarded to its subsidiary Arabtec Construction, will house a 61-storey residential tower, featuring 613 furnished apartments and 15-storey C-shaped tower that will host a five-star hotel offering 400 guest rooms and 200 serviced apartments. The two towers will be connected by a ballroom and retail block extending 4,600 square metres in area.

Construction work on the project, designed by the Architecture and Planning Group, is scheduled to begin in the first quarter of 2014 and will take 36 months to complete.

With the new contract, Arabtec said its backlog in 2013 crossed AED33bn, a record for the company.

Arabtec has more than $8bn-worth of ongoing projects on its books, including construction of a branch of France’s Louvre museum in Abu Dhabi.

In December, Abu Dhabi General Services (Musanada) awarded a $1.2bn contract to a consortium of Arabtec and Spain’s Constructora San Jose to build the New Al-Ain hospital.

In November, Arabtec won a $490m contract for the construction of a 77-storey mixed-use tower on Sheikh Zayed Road in Dubai. The tower will be 369 metres tall and will comprise more than 22,000 square metres of office space on 18 floors, and 908 sq m of retail area. It will also include a 350-room hotel and 83 serviced apartments, as well as 180 apartments.

The company also secured work on a hotel project in Dubai in October when it was awarded a contract to build the final phase of the Tiara Hotel on Palm Jumeirah. The 332-room hotel project comprises two mixed-use towers, including a dedicated 216-room hotel and 116 residential apartments.