International developer Al Mubaraka plans to build the 242 room full service boutique hotel and 63 managed apartments with a hotel bar, restaurant and cafe at Tobacco Dock.
The hotel job has attracted at least four bidders: Bam Construct, Galliford Try, McLaren and John Sisk, according to construction information specialist Glenigan.
The hotel facade design by Dexter Moren Associates takes inspiration from neighbouring industrial warehouses and uses traditional brick detailing and metal windows.
The aparthotel is differentiated through the use of terracotta cladding in a matching hue.
London Borough of Tower Hamlets granted planning to the hotel this month allowing construction to go ahead once a contractor is selected.