" Festival Tower is an important addition to our commercial office portfolio with a modern working environment seamlessly connected to leading business conference venues with stunning waterfront views," said David Glanville-Williams, managing director, Dubai Festival City.

" Festival Tower will be adjacent to our Festival Centre waterfront retail and leisure hub which allows unrivalled access to over 90 fashionable restaurants and cafes, within a Riviera style setting, providing the perfect place to unwind after a hard day at the office."

"We have already received expressions of interest from several leading firms and we are confident the Festival Tower will become a high desirable business location," said Phil McArthur, director of leasing and marketing, Dubai Festival City.

Meanwhile, construction on Dubai Festival City 's core hospitality cluster, which includes the 318 room Crowne Plaza Dubai Festival City as well as InterContinental properties, is well underway with over 50 per cent of the intended site on reclaimed land.

Construction of the first five levels of the 33 storey InterContinental flagship property has started and the initial floors of the 18 story Crowne Plaza hotel are about to commence with piling and foundation work for the Convention Centre nearing completion.

"Work is progressing as scheduled for both hospitality properties," said Glanville-Williams. "This is a massive undertaking but through intricate planning we are continuing to drive forward the initiative as planned."