Arenco Real Estate is considering building two major towers comprising up to one mn square foot of built up space on neighboring plots at Dubai Media City, according to Reuters-affiliated website Zawya.

The plots, which currently contain surface car parking, sit between the Arjaan Rotana Hotel and the Concorde Tower office building, facing the Jumeirah Palm monorail building.

Rory O’Connor, a director of Arenco Real Estate, tells Zawya in an interview that the company’s chairman, Abdullah Al Moosa, “will probably build an upmarket residential building, with shopping and facilities on the ground floor and parking above,” but adds that plans for the site have yet to be finalized.

“I don’t know until we’ve finally done the numbers, but the view from there, over The Palm and over the One and Only is spectacular. I think that will drive it.”