The project will be a twin-tower development on Nakheel’s Dubai Waterfront.
Nasri Helow, Saudi Arabia managing director for the Land Company for Property Development & Investment, says the design is currently being finalised.
He says the company hopes to launch the project at the Cityscape Dubai trade fair, which runs from 6 to 9 October.
The Saudi firm has a number of developments under way in the region, including Jordan and Palestine. It is also the largest developer on the Pearl Qatar project, with plans for 17 towers.