The Dubai International Financial Centre has named Hyder Consulting as the civil and structural engineering designer for its proposed Gateway Building.

The $40 million building will serve as the headquarters for the Dubai International Financial Centre and will be the first in the proposed multibillion-dollar financial district.

The striking arch design, drawn up by architect Gensler & Associates, is a contemporary interpretation of the Arc de Triomphe in Paris. It will be composed of solid stone and stainless steel that will form the main arch. Transparent glazed elements will emphasise the open arch at the centre of the building.

The 15-storey structure will include two levels for the stock exchange and general offices with the upper levels set aside for the headquarters of the Dubai International Financial Centre.

The 440,000 sq ft (gross) structure which will also have underground parking extending to a further 630,000 sq ft.

Piling work will begin this month as part of a total design and construction period of 18 months. The new building is directly adjacent to the Emirates Towers, for which Hyder Consulting was lead structural and civil designer.

Bids are currently being evaluated for a new master plan for the area surrounding both buildings which aims to create a "grand axis".