DAMAC Group has awarded Lendlease a AED 960 ($261mn) contract to build the AYKON London One residential tower, the Dubai-based developers first major project outside the Middle East.
Set to become one of the UK capitals tallest residential buildings, the 50-storey tower will be the first in Europe to be designed in partnership with Versace Home.
The development will provide 450 new homes and is sited within Zone 1, at Nine Elms on the South Bank, part of a wider multi-billion pound regeneration scheme that includes the redevelopment of Battersea Power Station as well as the location for the new US Embassy.
Hussain Sajwani, Chairman of DAMAC Group, said: AYKON London One is a landmark project and our first major international development outside of the Middle East.
We have great confidence in the London marketplace and this project is already proving to be highly desirable to customers and investors from within the UK as well as other parts of the world. We are delighted to be working with a respected partner such as Lendlease.
Neil Martin, Managing Director of Construction for Lendlease Europe, said: Our strategy of taking a selective approach to bidding is paying off, and is allowing us to focus on prestigious projects such as this one. We are looking forward to building a strong relationship with the DAMAC team.
With a total investment of over AED 3.1bn, AYKON London One will also offer an allocation of affordable housing, together with office, retail and amenity accommodation across two-interlinking towers.
The four-storey office space is located above the affordable residential floors at the top of the south block. This forms a habitable sky bridge between the south building and north tower, which is topped by an extensive roof garden at level 24.
Further residential amenities include a childrens play area, expansive indoor swimming pool, Jacuzzi, state-of-the-art gymnasium, residents lounge, hospitality services as well as 9,924 square feet of communal gardens.