Dubai developer Nakheel has awarded a joint venture of South Korea’s Ssangyong Engineering Corporation and China State Construction Engineering Corporation the contract to build its Palm Gateway schemeon the Palm Jumeirah.

The AED1.4bn ($381m) contract involves the construction of three towers and a beach complex.

Construction is expected to start in the first quarter of this year and take just over two years to complete, according to a statement from Nakheel.

The AED3bn development will be built on top of an existing car park that serves the Palm monorail on Al-Sufouh road. Project owner Nakheel has said the monorail station will remain operational during construction.

The first tower, known as the Tubular Tower, will be 285 metres tall, with 59 storeys, including 44 above podium level. The Central Tower will be 205 metres tall, with 48 storeys. The Beach Tower will be 206 metres tall, with 48 floors. The development also includes a beach club, as well as retail, dining, and health and fitness outlets.

The consultant is the UK’s Mott MacDonald, which worked on the scheme before 2008, when it was known as the Gateway Towers. Japan’s Taisei Corporation completed the car park podium in 2008.