Arabtec Holding, a Dubai-based construction company, has secured a contract to build twin-towers project in Central Dubai at a cost of AED1.1bn ($300m).

The new project features 50 storey towers.

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This is the third contract that Arabtec has won in a span of three months.

The project will be built on 227,800m² and include residential apartments.

"We are delighted to have been chosen to execute this important project adding further to the strong momentum in which we have begun 2016."

The construction of this structure will begin immediately and is expected to be completed in a span of two-and-a-half years.

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

The other projects are from Aldar Properties, where it has been tasked to construct 1,000 villas at West Yas at a cost of AED2bn ($544m).

Arabtec Holding also bagged an award worth $1bn for building new terminal at Bahrain International Airport along with joint venture partner TAV Construction of Turkey, reported Thenational.ae.