Facade work on $1.3bn four-tower complex is 60% complete
Damac Properties says a four-tower development it is building in Dubai in collaboration with Paramount Hotels & Resorts has topped out.
Facade work is also 60% complete at Damac Towers by Paramount Hotels & Resorts, a luxury hotel and serviced residences project in Dubai’s Burj area, the developer said.
“The interior fit out is progressing by the day with a significant acceleration in construction in recent months,” Damac, which is listed on the Dubai Financial Market, said.
The development, one of the single largest projects currently under construction in Dubai, is expected to be completed in 2017. Each of the four towers will be more than 250 metres high, with 10 podium levels and 58 additional storeys.
“Today is a significant breakthrough for this project and we are pleased with how construction at Damac Towers by Paramount Hotels & Resorts is progressing,” said Ziad El Chaar, Managing Director of Damac Properties.
“The 1,200 luxury serviced residences in three of the towers will offer luxurious living with a Hollywood flavour. The fourth tower, the Paramount Hotel, will house more than 800 rooms and suites,” he added.