UAE-based developer Emaar Properties has shortlisted two contractors for the deal to build The Address The BLVD hotel and residential development in the Downtown Dubai area.

The two contractors are the local/UK Al-Futtaim Carillion and Canada’s Brookfield Multiplex.

Emaar received revised prices from selected bidders for the contract at the end of November. Contractors initially submitted bids in October.

The other bidders included:

Located adjacent to the world’s tallest tower, Burj Khalifa, the 63-storey tower will contain 200 five-star hotel rooms and 542 serviced apartments. The 340-metre tower will house studios and apartments with up to four bedrooms. The project will be funded by offplan sales. The tower was designed by UK-based architecture firm Atkins.

The Address project is one of several new property schemes planned by Emaar. In March, the developer announced plans to build a cultural district next to its Burj Khalifa development in the Downtown Dubai area. The cultural area will contain a modern art museum, an opera house and other cultural facilities. The Dubai Modern Art Museum and Opera House District will also contain two hotels, studios and leisure facilities.

The cultural district is part of the much larger Westside development, which is now expected to be procured using a series of construction contracts rather than letting the work as a much larger partnering agreement.

In addition to the cultural district, the Westside development also involves building about 14 residential blocks with a built-up area of about 1.2 million square metres across the artificial lake from the Burj Khalifa and Dubai Mall. It will also have a promenade with shops and food and beverage outlets looking out to the 828 metre-tall tower.

In June, Emaar received prices from contractors that could be have been used to form the basis of a partnering agreement. The contractors that submitted rates included the local Alec, Al-Futtaim Carillion, Brookfield Multiplex and the local/UK Dutco Balfour Beatty.

Atkins and South Africa’s Mirage Mille are the consultants working on the scheme.