The Nasa Multiplex and Al Futtaim Tarmac joint venture has been awarded the contract to build the first three of six apartment towers at Dubai Marina's phase one, according to a statement by Emaar.

"We are creating a world-class project that is proving to be a breakthrough in Dubai real estate market. We have already sold over 370 apartments of the plan and construction is underway now," said Mohammed Alabbar, Emaar Properties chairman.

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

The contract for the north half of phase one is worth more than Dh500 million. Other major sub-contractors include Concrete Technoplogy, ETA, York, ETA Melco and Cox International. Project south will be awarded before the year-end, completing the significant 3.5 million square feet complex.

The project involves the construction of the 41-storey Al Murjan Tower, 34-storey Al Mass and 26-storey Fairooz Towers that will total 569 apartments, said the Emaar statement.

It also includes constructing 34 villas and a two-storey podium with a parking for 1,000 cars, a fitness centre and space for 20 retail outlets including restaurants.

Each tower of phase one will have its own swimming pool. Residents will also have access to a privately operated children's nursery and fitness centre with its own external lap pool, said the statement.

At the peak of construction, over 3,000 men will be employed on site, involved in the placing of 100,000 cubic meters of concrete and 17,000 tonnes of reinforcement.