The prequalifiers include the local Arabtec Construction, the local/Belgian Six Construct Abu Dhabi, Germany's Ed Zueblin, the local Cypriot Abu Dhabi J&P, the local Target Engineering Construction Company and Greece's Terna.
The contract involves the construction of a 161-room, five-star hotel which will be made up of chalets on individual islands and suites built around a central lagoon.
Six Construct was awarded the estimated AED600m ($163m) residential construction package in May 2007.
It involves the construction of villas as well as mechanical, electrical and plumbing works.
Each of the 59 homes will have a private pool and jetty, and some will have a private beach. Nine of the homes will be on individual islands.
The company was awarded the piling package in December 2006 (MEED 25:5:07).
Lebanon's Dar al-Handasah is the consultant.