Corporate Towers will run across 45 floors and have floor space of 1.1 million ft2

Dubai property developer Sheffield Real Estate has said it is planning to start work on a commercial tower in the emirate by the end of next month.

The 300m Dirham (£57m) Corporate Towers in Jumeirah Lake Towers will run across 45 floors and have a total floor space of 1.1 million ft2.

The job will be the company's seventh in Dubai and will include its flagship 1.7bn Dirham (£324m) Marina 101, which the developer says is the tallest hotel apartment tower in the world standing at 412m high.

Explaining the decision to press on with Jumeirah Lake Towers, Sheffield chairman Abu Ali Malik Shroff said: “We believe that despite the current phase of slowdown, Dubai's real estate market will pick up speed and investors will be tempted to participate because the rental yield is still more attractive compared to other key global real estate markets.”