Local developer Nakheel has received bids for the construction of the RIU resort on its Deira Islands development in Dubai.
The developer says it is assessing 10 proposals for the 800-room beachfront resort and the lowest bid is AED363m ($99m).
The construction contract is scheduled to be awarded by the end of this year, and completion is expected in 2020.
The resort has an investment value of AED670m ($183m) and is being developed by a joint venture of Nakheel and Spains RIU Hotels & Resorts.
Located on a prime beachfront plot at Nakheels 15.3 square kilometre Deira Islands coastal city, the resort features seven F&B outlets, three swimming pools, a fitness complex, childrens club and waterpark.
Nakheel says it has awarded over AED7.5bn worth of contracts at Deira Islands. Other projects being built on Deira Islands include Deira Mall, Deira Islands Night Souk and Deira Boulevard. The largest contract award was the AED4.2bn deal for Deira Mall secured by the local Unec in April.