Multiplex has signed a £240m contract to build the luxury AYKON London One tower in central London.

Developer Nine Elms Property Ltd – a wholly-owned subsidiary of DAMAC International -chose Multiplex after an earlier agreement with Lendlease fell through.

The 50-storey tower building has been dubbed the Jenga tower due to its distinctive stepped design.

Hussain Sajwani, Chairman of DAMAC said: “AYKON London One is our premiere international development outside of the Middle East and a landmark project for the UK’s capital.

“Based on its 50-year track record and expertise in the construction industry, we are delighted to appoint Multiplex as the main contractor to build this iconic residential project which will be the first-of-its-kind in London.

“The project continues to garner interest from investors who appreciate such a niche investment opportunity and seek premium branded real estate in one of the most desirable cities in the world.”

Ashley Muldoon, CEO Multiplex said: “We have an enviable track record of completing on time, on budget and to the highest quality and design criteria and a prestigious project such as this allows us to demonstrate our proven capabilities.”

Interiors of the apartments will be designed in partnership Versace Home.

The development will provide 450 new homes at Nine Elms on the South Bank.

It has been designed by architect Kohn Pedersen Fox Associates and is scheduled for completion in 2020. It is already 45% pre-sold.

In addition to residential units, AYKON London One will contain four storeys of office space and a sky bridge between the south building and north tower.