South Korean builder Ssangyong E&C has won a USD 62 million contract from UAE-based wasl Asset Management Group to build five-star, 156-room Andaz boutique hotel at La Mer beachfront development in Dubai, reported Trade Arabia. The property is a Hyatt brand, and will be designed by VX Studio.

Wasl, a public entity that develops and manages government property assets, currently owns 14 hotel properties in Dubai, including Dusit Thani, Park Hyatt and Le Meridien.

Work already kicked off, and the project will be ready in 2020.