The actor will join Shah Rukh Khan, Abhishek Bachchan and Boman Irani in the upcoming production, reports the Mumbai Mirror
"Farah wanted someone with a very cool body language for the fourth male lead," a source revealed. "She had been toying with the idea of casting John for a long time.
"The deal was sealed a few days before John flew off to Turkey to shoot for Race 2."
Abraham is reportedly excited about sharing screen space with Shah Rukh Khan and reuniting with his Dostana co-stars Bachchan and Irani.
"He is very happy he will be working with Shah Rukh for the first time," the source explained. "And he is excited he will share screen space with Abhishek, with whom he enjoyed great camaraderie during the making of Dostana and has been good friends with ever since."
Farah Khan is said to have been planning to shoot the long-delayed Happy New Year for over five years.
Filming is expected to begin on the project by the end of 2012.