ARABTEC Holding, a leading engineering and construction group, said its subsidiary, Arabtec Construction, has been awarded a contract for construction of the final phase of Tiara Hotel on Palm Jumeirah in Dubai.

The 332-room project comprises two mixed-use towers, including a 216-room hotel as well as 116 residential apartments.

The earlier phases of the Dh550-million ($149.72 million) project were executed by Arabtec Construction, and work on the final phase, valued at Dh196 million ($53.36 million), will begin in the first quarter of 2014 and is expected to take up to 18 months to complete.

“Arabtec’s appointment to build The Tiara Hotel project on Palm Jumeirah confirms our status as the contractor of choice for a wide range of hospitality projects and it further demonstrates our unique capabilities in delivering best-in-class mixed-use developments,” said Hassan Ismaik, managing director and CEO of Arabtec Holding.

Designed by Dar Al Handasah (Shair and Partners), the Tiara Hotel is the latest addition to Arabtec’s hotel portfolio which includes Abu Dhabi’s iconic landmark: the seven-star Emirates Palace Hotel, as well as a host of towers for world-renowned hospitality brands.

Recent contract awards in the UAE include the Fairmont Hotel and Serviced Apartments in Abu Dhabi and a five-star hotel and serviced apartments tower located in the Business Bay district of Dubai.