Emaar Properties has awarded the contract to build the first three of six apartment towers of the first phase of the Dubai Marina project to a joint venture, the company announced.

It said the contract for the northern half of the first phase has been awarded to the joint venture of NASA Multiplex and Al-Futtaim Tarmac.

Construction work has now started on the three northern towers and the two-storey podium which will take 24 months to complete and be ready prior to the IMF and World Bank conference in 2003.

The contract for the north half of Phase 1 is worth more than Dh500 million ($136 million) and other major subcontractors on the project include Concrete Technology, ETA, York, ETA Melco and Cox International.

The almost identical south half of the project will be awarded before the end of the year which will complete the significant 3.5 million sq ft complex.

The project involves the building of the 41-storey Al Murjan, 34-storey Al Mass and 26-storey Fairooz towers that will total 569 apartments.

It also includes constructing 34 villas and a two-storey podium that will contain parking for about 1,000 cars, a fitness centre and space for 20 retail outlets.

Emaar Properties chairman Mohamed Alabbar said: "The awarding of this major contract and the start of construction represents a major landmark in the development of Dubai Marina and the creation of the first 'intelligent' city in the Middle East.

"We are creating a truly world-class project that is proving a breakthrough in the real estate market in Dubai and we have already sold over 370 apartments off the plan.

The entire Phase 1 building complex when completed will be home for up to 3,500 people. Each tower has its own private swimming pool, children's nursery and fitness centre.

At the peak of construction work, over 3,000 workers will be employed on site involved in the placing of 100,000 cu m of concrete and 17,000 tonnes of reinforcement.

The Nasa Multiplex/Al Futtaim Tarmac joint venture brings together the complementary international and local skills required to undertake this project.

Nasa Multiplex is a partnership comprising Nasser Abdulla Hussain Lootah's Nasa group of companies and Multiplex Construction, Australia's largest commercial building contractor.

Al Futtaim Tarmac, jointly owned by the local Al Futtaim Trading Group and the British construction to services company Carillion, has been providing high- quality construction services to the Dubai market for over 35 years.

The earthworks and quay walls to the new Marina as well as the substructure of the tower project at Dubai Marina have already been undertaken by Al Futtaim Tarmac.