Contractors are still waiting for government-owned investment vehicle Mubadala Development Company to award the contract to build the Four Seasons hotel on Abu Dhabi’s Sowwah island.

Contractors gave final offers to Mubadala in October last year after initial bids were submitted in early 2011.

The planned five-star hotel will be a 144-metre high tower, with a gross floor area of about 100,000 square metres (sq m).

The 200-room hotel will contain restaurants, a swimming pool, spa, gym and conference centre. The development will also include 124 apartments and a 6,000 sq m retail area. In addition, the hotel will have 16,000 sq m of car parking space. The estimated duration of the construction work is 24 months.

Mubadala is also responsible for the development of the rest of Sowwah Island, located between Reem island and the port area of Abu Dhabi island.

An award has been made this year for another tower on Sowwah island. In April this year, the local Al-Faraa General Contracting Company won the estimated AED300m ($82m) contract to build the new headquarters for the local Al-Hilal Bank. Other financial institutions that will have a presence on Sowwah Island include National Bank of Abu Dhabi (NBAD) and the Abu Dhabi Securities Exchange.