Abu-Dhabi based International Capital Trading (ICT) has awarded an estimated AED420m ($114m) contract to the local Pivot Engineering & General Contracting Company to build its Marasy development in Abu Dhabi.

The construction contract was awarded to Pivot in mid-April, according to a source close to the project.

ICT will build the Marasy project on two plots of land at the Al-Bateen wharf, located on the southwestern edge of Abu Dhabi island, close to the Intercontinental hotel overlooking Hudairyat island.

The larger plot will have seven apartment buildings and the smaller plot will have one.

The total built-up area is about 100,000 square metres, which includes about 24,000 sq m of parking.

ICT had received bids from prequalified contractors in August last year. The bidders included Greece’s Aktor, the local/UK Al-Futtaim Carillion, the local/Australian Al-Habtoor Leighton Group, local/Lebanese Arabian Construction Company, Arabtec Construction, the local Construction General Contracting House, and the local National Projects Construction.

The Al-Bateen district is the oldest occupied area of the capital and is currently being redeveloped by Abu Dhabi’s Tourism and Development Company (TDIC).

The project comprises of a new fishermen’s marina, a five-star hotel and apartments.

TDIC is managing the redevelopment of the fishermen’s marina independently, and is developing the Al-Bateen Wharf Hotel and Residences as part of a joint venture with the local firm Belbadi Enterprises.

The marina will consist of 323 fishing boat berths, a fisherman’s community centre, a dry stack building for approximately 150 boats and a boardwalk.

The first phase the marina was completed earlier this year, and the second phase is to start in the third quarter of 2010..

The Al-Bateen wharf hotel project has been designed by US architecture firm Kohn Pederson Fox. The five-star hotel will include 397 rooms, and will cover an area of 131,475 sq m.