Local developer Emaar has set 18 January as the tender closing date for the contract to build its Vida Residences development on the site of the recently demolished yacht club in Dubai Marina.

The project involves the construction of a 44-storey tower with more than 350 serviced apartments. The property will also have a seven-level podium, food and beverage outlets, a swimming pool and parking area.

The consultants working on the project include the local WME Consultants and Killa Design.

Compared with previous years, there are now relatively few construction projects being tendered in Dubai Marina as development work in the area approaches completion.

Last year the largest contract to be awarded was the estimated AED2bn ($545m) contract secured by Canada’s Multiplex to build The Address Jumeirah Gate. The contract involves building twin 74-storey mixed-use towers that are 303 metres tall on the beach next to Jumeirah Beach Residence.