A subsidiary of Dubai developer Damac International has awarded a $308m (£240m) contract to Australian contractor Multiplex to build Aykon London One.
Located in south west London’s Nine Elms, which is between Battersea and Vauxhall, the project will include interiors designed by high-end Italian fashion house Versace.
The development will provide 450 homes and is part of a wider multi-billion pound regeneration scheme that includes the redevelopment of Battersea Power Station as well as the location for the new US Embassy.
The tower was designed by New York architect Kohn Pedersen Fox Associates and is valued at $759m (£591m).
In addition to residential units, the tower will have four storeys of office space and will contain a sky bridge between the south building and north tower, which is topped by an extensive roof garden.
Further residential amenities include a children’s play area, expansive indoor swimming pool, jacuzzi, gymnasium, residents lounge, hospitality services and 922 sq m of communal gardens.
Hussain Sajwani, Damac Chairman, said: "Aykon London One is our premiere international development outside of the Middle East and a landmark project for the UK’s capital.
"Based on its 50-year track record and expertise in the construction industry, we are delighted to appoint Multiplex as the main contractor to build this iconic residential project which will be the first-of-its-kind in London.
"The project continues to garner interest from investors who appreciate such a niche investment opportunity and seek premium branded real estate in one of the most desirable cities in the world."
At present 45% of the tower is pre-sold. It is scheduled to be completed in 2020.
Images courtesy of Aykon London One