DAMAC Properties Brings Hollywood Glamour to Reality in Dubai

May 6, 2015

60% of Superstructure in DAMAC Towers by Paramount Hotels & Resorts Completed;

Four Tower Luxury Project in the Burj Area to be Finished Next Year – Three Other Paramount Hotels and Resorts-Branded Properties all Under Development

Luxury real estate developer DAMAC Properties is turning Hollywood glamour into a reality with extensive construction on its Paramount Hotels & Resorts branded projects across the region.

The company has confirmed that 60% of the superstructure works of the iconic DAMAC Towers by Paramount Hotels & Resorts project in the Burj Area is now complete. Speaking at the Arabian Travel Market (ATM) in Dubai, executives confirmed that work has reached the 28th level, in less than two years of construction.

Development on the US$1.35 billion project has been moving forward at a good pace and already the core walls at the four towers have been cast with construction moving at an average of a floor a week on each tower.

In addition, DAMAC Properties has topped out its major DAMAC Tower by Paramount Hotels & Resorts hotel residences in Riyadh, KSA, construction is underway on its DAMAC Villas by Paramount Hotels & Resorts luxury living within its AKOYA by DAMAC master community and work has started on the Paramount Hotel, Jumeirah Waterfront in Dubai Maritime City.

The DAMAC Towers by Paramount Hotels & Resorts luxury project, which will stretch 250 metres into the air includes more than 1,800 units comprising approximately 1,000 one-, two- and three-bedroom hotel apartment suites and circa 800-key, 5-star Paramount Hotel & Resorts Hotel.

“DAMAC Towers by Paramount Hotels & Resorts has seen a significant acceleration in the construction in recent months, despite the fact that the project is one of the largest and most complex in Dubai,” said Niall McLoughlin, Senior Vice President, DAMAC Properties. “The exciting development will provide a unique lifestyle bringing to life the class and style of Hollywood for the first time in the Middle East.”

“DAMAC Towers by Paramount Hotels & Resorts is already an iconic development coming up in the Burj Area and we look forward to opening the first ever Paramount Hotel & Resort anywhere in the region by the end of next year.”

The project provides a wide range of restaurants set within a glamorous environment, including the Italian restaurant – an authentic Italian to make you feel you are sitting in a set from the Godfather.

On the ground floor is a Lebanese-style restaurant, which leads up to the Uber lounge with Shisha and All Day Dining. There is also a Family friendly kid’s buffet and a special Asian buffet area.

Access to the Paramount movie library of more than 3000 films, a private screening room and creative usage of transformational elements like digital signage, media mapping and lighting effects throughout the public areas are planned along with accents of local colour.

DAMAC Properties has numerous projects with Paramount Hotels & Resorts across the region. In addition to DAMAC Towers by Paramount Hotels & Resorts, the companies are also collaborating on the Paramount Hotel, Jumeirah Waterfront in Dubai, DAMAC Tower by Paramount Hotels & Resorts in Riyadh, Saudi Arabia and DAMAC Villas by Paramount Hotels & Resorts in the AKOYA by DAMAC Master Development off Umm Suqeim Road in Dubai.

DAMAC Properties is showcasing its latest hotel apartment projects, throughout the ATM exhibition running until 7th May at the Dubai World Trade Centre.

As of March 31st 2015, DAMAC Properties has delivered almost 14,000 homes and has a development portfolio of over 37,000 units at various stages of progress and planning.