Arabtec announces Dh1.8bn contract for construction of Dubai's second tallest skyscraper which will also be the world's 26th highest building.
New Dh1.8bn Dubai skyscraper to rise high in emirate’s top 10 tallest
Arabtec Construction has won a Dh1.8 billion contract to build what is expected to be one of Dubai’s tallest towers.
The order is for the construction of a mixed-use 369-metre tower in Dubai’s central business district, one block away from Burj Khalifa, which Arabtec also helped to build, the company said. It did not disclose the client.
Upon completion, the high-rise tower, which has yet to be named, will be one of Dubai’s 10 tallest buildings. Designed by Atkins, the building will have 77 floors, comprising 22,000 square metres of office space on 18 floors, and 908 sq metres of retail area. The tower will include a 350-room hotel and 83 serviced apartments, as well as 180 luxurious apartments.
The new tower will be the tallest building to start construction in Dubai since the global financial crisis and is the latest evidence of rebounding confidence in the property market.
Earlier this week Burj Khalifa developer Emaar denied press reports that it was planning to build a tower taller than Burj Khalifa, the world’s tallest building.
Negotiations are under way with a number of world-leading hospitality brands for the management of the hotel and serviced apartments, Arabtec said.
“This tower will be a quality addition to Arabtec’s already high-profile backlog in the UAE and across the region,” said Hasan Abdullah Ismaik, the managing director and chief executive of Arabtec Holding. “Our appointment to build this high-rise building in the heart of Dubai’s business centre is a strong endorsement of our unique capabilities in delivering high-quality complex structures.”
Construction of the tower will begin this month, and is expected to be completed by May 2017.