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Damac-Paramount luxury project launched

Damac-Paramount luxury project launched

New property to cater to ‘huge demand’ for stylish and luxury living: Damac CEO

By Alvin Cabral

Published: Mon 29 Jun 2015, 9:44 PM

Last updated: Wed 8 Jul 2015, 2:47 PM

Dubai — Damac Properties has announced its latest hospitality project in collaboration with Paramount Hotels & Resorts.Damac-Paramount luxury project

Dubai’s leading luxury real estate developer has launched “Paramount Residences at the Paramount Tower Hotel & Residences”, an 826-key luxury hotel and hotel residences tower on Sheikh Zayed Road. The 64-storey project will offer a sky lobby with views across the Burj area, a private Paramount Pictures screening room, the most picturesque rooftop infinity swimming pool overlooking the Downtown area with a terrace and a fitness and wellness centre with a state-of-the-art spa.

Construction work on Paramount Tower Hotel & Residences is already underway, with completion scheduled for the third quarter of 2019. Prices for the hotel residences, which will be located on the 36-64th floors, will start at Dh1,800 per sq ft.

“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,” said Ziad El Chaar, managing director of Damac Properties. “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.”

Damac Properties has a number of projects under construction with Paramount Hotels & Resorts across the Middle East, including Damac Towers by Paramount Hotels & Resorts, a four-tower project in the Burj Area that is due to open in the last quarter of 2016; Damac Tower by Paramount Hotels & Resorts in Riyadh; Paramount Hotel Dubai Jumeirah Waterfront in Dubai’s Maritime City; and serviced villas within the company’s Akoya by Damac golf community.

“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,” said Paramount Hotels & Resorts chief executive officer Thomas Van Vliet. “This will be our boutique signature that reflects the infectious energy of Dubai.”

The selection of hotel rooms and suites are uniquely designed with reflections of the renowned Paramount Pictures brand throughout. Each fully-furnished unit includes access to a film library of over 3,000 titles and offers decor and luxurious fittings to create a truly individual living environment.

The residences have separate living and dining areas combined with Paramount Hotels & Resorts’ amenities and service. Units are available in one, two and three bedroom options, in addition to two exclusive penthouses.

The Paramount Tower Hotel & Residences also includes entertainment and dining options on the podium levels, with two contemporary and timeless restaurants, an intimate cinema modelled after the professional screening rooms of Paramount Pictures, luxury shops, art galleries and an all-day kids’ studio club.

According to figures released by the Dubai Tourism & Commerce Marketing, Dubai’s hotel market welcomed 11.6 million guests in 2014, demonstrating a six per cent growth on the previous year. Echoing this surge, Dubai International Airport welcomed more than 70 million passengers, making it the busiest international passenger airport in the world, overtaking London Heathrow. Visitor numbers into Dubai are expected to double over the next five years to around 20 million, with 25 million tourists expected in 2020, when Dubai hosts the World Expo.

— alvin@khaleejtimes.com

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