Dubai Properties, a leading UAE-based real estate master developer, is set to start work on its luxury project 1/JBR, a 46-storey tower located at the entrance of Jumeirah Beach Residence in Dubai, said a report.   

The iconic tower, which will be built at a cost of over Dh1 billion ($272 million), features 161 two-, three-, and four-bedroom apartments as well as some five-bedroom penthouses, reported The National.

Dubai Contracting Company (DCC) has been signed up as the main contractor for the project, which is due for handover in the final quarter of 2019, it stated.

Jumeirah Beach Residence is one of the leading destinations in Dubai developed by Dubai Properties Group, renowned for its stunning beachfront setting. With a promenade that stretches 1.7 km overlooking the Gulf, it is one of the most popular tourist destinations in the region.

The 1/JBR boasts ultra-luxury living with each apartment providing panoramic sea views, said the report.

The selling price of the two-bedroom apartments starts at Dh5.4 million ($1.46 million), it added.