South Korean contractor Ssangyong Engineering & Construction has been awarded an estimated $223m deal to build the Immersive Tower project in Dubai.

The contract was awarded by Dubai International Financial Centre (DIFC).

The project involves the construction of a commercial tower at DIFC consisting of 37 storeys and a built-up area of over 115,000 square metres (sq m).

It will offer 58,573 sq m of office space, 10,596 sq m of retail space and over 680 sq m of space for other amenities.

The project is designed by Hong Kong-headquartered Aedas and Lebanon's Dar Group. Canadian firm AtkinsRealis is the project cost consultant.

DIFC broke ground on the project in May last year. Local firm NSCC International is undertaking the enabling works.

The project is set for completion in April 2027.

Dubai real estate developments dominate the UAE’s construction market, with schemes worth over $323bn in execution or at the planning phase.

As the market develops further, a broader range of opportunities is expected to emerge for both local and international contractors.

This is in line with GlobalData’s forecast, which expects the UAE construction sector’s output to grow by 4.2% in real terms in 2025, supported by developments in infrastructure, energy and utilities and residential construction projects.