The contract was awarded by Damac Properties and was signed earlier this week, Arabtec said in a statement.

The Dubai-listed contractor previously worked with Damac on its flagship Ocean Heights project, also in Dubai.

Arabtec and Abu-Dhabi-based Aabar recently called off a $1.7 billion agreement for Aabar to take over Arabtec.

The two firms didn’t disclose any reason for canceling the deal, but analysts have said Arabtec no longer needed the funds after Dubai unveiled a debt repayment plan for its flagship conglomerate Dubai World.