The Address portfolio to grow to six as Emaar gives contract to build 72-storey hotel to Brookfield Multiplex
Downtown Dubai’s second tallest tower will be built by Brookfield Multiplex Construction LLC after developer Emaar Properties awarded it the construction contract for five-start hotel, The Address The BLVD.
The BLVD will be the sixth addition to The Address Hotels and Resorts portfolio, and will feature 200 hotel rooms and 523 serviced apartments. The 72-storey building will stand at 370 meters high, shorter than only one building in the area – Burj Khalifa – and is scheduled for completion in 2015.
Emaar has not disclosed the value of the contract.
The new building’s apartments sold out on the first day of sales in September 2012, with prices ranging from AED1.1m (US$299,500) for a studio to over AED6m (US$1.6m) for a four-bedroom unit.
Emaar Properties has worked with Brookfield before, with the construction company building the raft to Emaar’s signature project, the world’s tallest building, Burj Khalifa. The two companies also worked together on the Dubai Marina waterfront development.
Brookfield is responsible for several more Dubai landmarks including Emirates Towers, the DIFC Gate Building, and the recently opened Standard Chartered Bank Building.