The joint venture of Dubai-based Arabtec Construction and local SIAC Industrial Construction and Engineering has formally signed $153m contract to build two towers in Egypt.

The contract was awarded in July last year. The joint venture will build the Second Nile Towers in the Maadi suburb of Cairo. Both towers will be 22-storey high and the scheme will have a total built-up area of 105,000 square metres. The first tower will contain a 256-room Hilton hotel, while the second tower will contain residences and hotel apartments.

The client for the project is the Saudi Egyptian Construction Company (Secon), which is a joint-stock company founded by the Saudi Arabian and Egyptian governments.

The local Space Consultants is the consultant for the project and US-based Hill International will provide project management services.