Damac launches latest Paramount property in Dubai
826-key Paramount Residences at the Paramount Tower Hotel & Residences to open in 2019
Damac Properties has launched Paramount Residences at the Paramount Tower Hotel & Residences, an 826-key hotel and residences tower on Sheikh Zayed Road, Dubai.
The 64-storey project will have a sky lobby with views across the Burj area, a private Paramount Pictures screening room, and a rooftop infinity pool overlooking the Downtown area.
Damac properties managing director Ziad El Chaar commented: “As the number of tourists to Dubai continues to outpace most of the world, there is a huge demand for quality, stylish and luxury living experiences, both with hotels and the high-end hotel apartments sectors.
“Paramount Tower Hotel & Residences will bring to life the Hollywood glamour and California cool lifestyle synonymous with Paramount Pictures in an environment which is stylish and aspirational.”
Construction work on Paramount Tower Hotel & Residences is already underway, with completion scheduled for Q3 2019.
Prices for the hotel residences, which will be located on the 36-64th floors, will start at AED 1800 ( US $490.07) per square foot.
Damac Properties has a number of projects under construction with Paramount Hotels & Resorts across the Middle East.
These include Damac Towers by Paramount Hotels & Resorts, a four tower project in the Burj Area which is due to open in the last quarter of 2016; Damac Tower by Paramount Hotels & Resorts in Riyadh, KSA; Paramount Hotel Dubai Jumeirah Waterfront in Maritime City and serviced villas within the company’s Akoya by Damac golf community.
Paramount Hotels & Resorts CEO Thomas Van Vliet commented: “This sleek new addition to our portfolio will be the hot spot of this buzzing metropolis – boasting artistically infused exquisite design, with a premium on service.
“This will be our boutique signature that reflects the infectious energy of Dubai.”
Each fully furnished unit includes access to a film library of more than 3000 titles.
The residences have separate living and dining areas and units are available in one, two and three bedroom options, in addition to two penthouses.
The Paramount Tower Hotel & Residences also includes entertainment and dining options on the podium levels, with two restaurants, a cinema modelled after the professional screening rooms of Paramount Pictures, luxury shops, art galleries and an all-day kid’s studio club.
The Fitness & Wellness Centre and spa, offer will have personal trainers, yoga teachers and skin-care specialists.
As of March 31, 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.
Included are more than 10,000 hotel rooms and serviced hotel apartments under development, which will be managed by its hospitality arm, Damac Hotels & Resorts.