UAE-based construction firm Arabian Construction Company (ACC) has signed a joint venture contract to build a 170-metre luxury residential tower called ONE in Cyprus.

ACC and its joint venture partners, Joannou & Paraskevaides Group, said in a statement that upon its completion in 2019 the project will be the tallest residential seafront tower in Europe.

The new tower will be located on 28th October Avenue, Limassol's prime seafront boulevard, and is set to become a Cyprus landmark that will redefine the coastal skyline, the statement added.

All 83 apartments across the 37-storey building will have seaviews, with a mix of two, three and four bedrooms, plus a three-floored penthouse.

The building will also feature a spa, a fitness centre and swimming pool, and retail space.

Maher Merehbi, CEO of Arabian Construction Company, said: “We are delighted to undertake our first project in the country. We are proud that the client has placed their faith in the combination of our high-rise expertise and the local experience of our J&P Group partners, to build what will become one of the most iconic buildings in Cyprus.”

Previous ACC projects include the Almas Tower, Princess Tower, Sky Tower, Gate Towers, Etihad Towers, Fountain Views, Sky Views, World Trade Center Abu Dhabi and Rose Rotana.

Earlier this year, ACC was awarded a contract to build Boulevard Point, a luxury 63-storey residential tower in Downtown Dubai.

The new tower, being developed by Emaar Properties, will be situated next to Fountain Views, for which ACC won the contract in 2014 and will be the company's third project in the Downtown area.