$1 Billion ‘Damac Towers By Paramount’ To Be Built In DubaiThursday, March 07, 2013
Damac properties will develop a partnership with Paramount Hotels and Resorts for the construction of four buildings- ‘Damac Towers by Paramount’ in Dubai. The development is expected to comprise a 540 key Paramount Hotel & Residencies along with 1400 units of co-branded serviced hotel residencies.
$1 billion Damac Towers by Paramount is currently under construction and it is expected to complete by the end of 2015. It will provide an easy access to Dubai Mall and enviable view of Burj Khalifa.
Ziad El Chaar- the managing director of Damac properties has mentioned that they will employ tested and tried development process that has been pioneered by Paramount Pictures, to direct an exclusive world-class experience.
The four towers of Damac Towers by Paramount are likely to offer meeting & events facilities, wellness & fitness centers, a selection of themed food, kids club and swimming pools, all featuring Paramount brand or otherwise selected partner brands. Amongst the four towers, one will comprise of Paramount Hotel & Residencies while the other three will house co-branded serviced Hotel residencies by Damac Maison and Paramount.
Damac Masion- the hospitality division of Damac Properties is expected to manage the one, two and bedroom serviced residences along with luxurious penthouses in the three towers. Whereas, in the ‘mixed tower’, one, two and three bedroom serviced residencies are expected to be managed by Paramount Hotel and Resorts.