Emaar Properties has awarded the contract to build a 72-storey hotel in Dubai, in what is set to be the sixth property to launch under its Address brand.
The Dubai-based developer said today The Address The BLVD project will be built by Brookfield Multiplex Construction, according to a statement to the stock exchange.
No value for the contract was given in a statement issued by the emirate's largest listed property developer.
The building will include 200 hotel rooms and 523 serviced residences and will be located close to the world's tallest building, the Burj Khalifa.
Hundreds of people queued in line at the development's off-plan sales launch in September, including many labourers paid by property agents and brokerages to stand in the heat on behalf of buyers.
"Emaar has awarded [the] construction contract for The Address The BLVD in Downtown Dubai to Brookfield Multiplex Construction," the developer said.
"The 72-storey hotel is 370 metres high, and will be one of the tallest buildings in Downtown Dubai, next to Burj Khalifa, the world's tallest building."
The building is scheduled for handover in 2015, Emaar said.
* With Reuters