The local Arab Technical Construction Company (Arabtec), which is being taken over by Arabian Technical Construction Company, has been awarded an estimated AED 485 million ($132 million) contract to build a hotel within the AED 3,000 million ($816 million) Dubai Pearl development.
The contract calls for the construction of a 60-storey tower over 287 metres, located within Dubai Media City. The property, which will be managed by Swiss hotel chain Moevenpick Hotels & Resorts, will comprise 760 rooms and business, leisure and entertainment facilities. Canada's NORR Group Consultants Internationalis the consultant; the UK's Chapman Taylorcarried out the masterplan and is the architect. The hotel is being funded by Saudi Arabia's Kingdom Holding Investment Groupand Dubai Pearl Incorporated. The Dubai Pearl project will cover over 10 million square feet including three hotels, 2,000 residential units, an opera house and retail facilities. The development is scheduled to be completed by 2006. Omnix International, part of Qatar's Salam Holdings, is the developer. The project manager is the US' Turner International(MEED 1:11:02).
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