Arabtec Construction, a subsidiary of UAE-based construction group Arabtec Holding, has won a contract to build an AED1.1bn ($300m) residential project in central Dubai, UAE.

The project will involve the construction of two 50-storey towers featuring residential apartments. It will have a built-up area of over 227,000 sq m.

Construction on the residential apartments is due to commence immediately, with completion expected within two-and-a-half years.

Arabtec has not yet disclosed the name of the project’s client.

Arabtec Holding acting CEO Saeed Mohamed Al Mehairbi said: "We are delighted to have been chosen to execute this important project adding further to the strong momentum in which we have begun 2016."