Local developer Mag Lifestyle Development has awarded the local Intermass Engineering & Contracting the AED155m ($42m) main construction contract for its Mag 318 building in Dubai’s Business Bay.

The building is a mixed-use residential tower with 439 residential units, including studios and one and two-bedroom apartments. The building also includes a swimming pool and 1,600 square metres of retail space.

Intermass will start working on the project once the local Dutch Foundation has completed the shoring and piling works.

Project completion is scheduled for the second quarter of 2020.