The local/South African Al-Jaber Grinaker LTA (Alec)has been awarded the estimated AED 200 million ($55 million) contract to build a mixed-use development adjacent to Dubai Media City. The 22-month contract calls for the construction of the 40-storey Al-Jaber tower.Designed by US-based Jung Brannan Associates, the tower will include a pixelated glass covering. The development will house the region’s first Shangri-La four-star Traders Hotel and business offices. The local Dewan Architects & Engineersis the consultant. Elsewhere, the local National Investment Corporation (NIC) has awarded Dewan the contract for the new Abu Dhabi Yacht club. Located on the Abu Dhabi corniche breakwater, the project is scheduled to be completed by September 2005 (MEED 27:8:04).