The property is part of the $3.3bn Yas Bay master development
Contractors are preparing to submit commercial bids on 6 August for the contract to build the family hotel that Abu Dhabis Miral is developing as part of its AED12bn ($3.3bn) Yas Bay master development
Technical bids for the contract have already been submitted.
The four-star hotel will have 641 rooms, 43 retail units and 1,500 car parking spaces.
Contractors have also submitted bids for the contract to build the indoor arena at Yas Bay. The bidders include Bam of the Netherlands, the local/Belgian Six Construct Abu Dhabi, and the local/European Ed Zueblin.
The project involves building an arena with about 15,000 seats that will be used to host events in a temperature-controlled environment.
The project manager for the Yas Bay development is the UKs Faithful + Gould.
Miral is developing other schemes on Yas Island as part of a broader plan to double visitor numbers to 48 million by the year 2022.
It has formed a partnership with the US Seaworld Entertainment to develop a SeaWorld theme park on Yas Island in Abu Dhabi. That project is still in the early stages and Miral is in the process of appointing a project manager.
Mirals other assets on Yas Island include Ferrari World Abu Dhabi, Yas Waterworld and a Warner Bros theme park that is due to open in 2018. Yas Island is also home to Yas Marina Circuit, seven hotels, a golf course, a marina and Yas Mall.