Known as Define Essence, the 42-floor residential tower will have 381 apartments, with shops on the ground floor.
The total built-up area will be about 65,000 square metres.
Local developer Nakheel is the master developer of Dubai Waterfront.
The development will be based around a central island surrounded by four neighbouring districts: the Boulevard, Madinat al-Soor, the Resort and the Marina.
It will have an estimated resident population of 92,000 and a working population of 310,000 people.
It will cover an area of 3.3 million square metres (MEED 12:3:08).