The contract will see ACC build three residential towers comprising 283 units called Emaar Residences at the masterplanned community, Jeddah Gate.
A company spokesperson has told MEED delivery is expected in 2018.
Jeddah Gate is located close to the Haramain high-speed train station and near the headquarters of major banking institutions and the Jeddah Chamber of Commerce & Industry. The development is also near the main railroad linking the two holy cities of Mecca and Medina.
Developed by Emaar Middle East, Jeddah Gate is sited on a 400,000-square-metre plot of land in Jeddahs new downtown area. Emaar has already handed over homes in the first residential project, Abraj al-Hilal 1.
Earlier this year, MEED reported that Emaar Hospitality Group plans to open 35 new hotels and serviced residences in Dubai, the UAE and international markets.
The properties will be managed by its three brands: The Address Hotels & Resorts; Vida Hotels & Resorts; and Rove Hotels.