Damac Properties launches Paramount Residences in Dubai
The 64-storey project will offer a sky lobby and private Paramount Pictures screening room, developer says
The Dubai-listed property developer Damac has launched a 64-storey tower in collaboration with Paramount Hotels & Resorts, which is set to house 826 hotel rooms and residences.
The Paramount Residences at the Paramount Tower Hotel & Residences project will include a sky lobby with views over Dubai’s Burj Khalifa area, a private Paramount Pictures screening room and infinity pool, the developer said.
Construction of the project is already underway, with completion scheduled for the third quarter of 2019, Damac said. Prices for the hotel residences, which will be located on the 36-64th floors, will start at Dh1,800 ($490) 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.
The developer has several Dubai projects under construction with Paramount Hotels & Resorts, including Damac Towers by Paramount Hotels & Resorts, a four-tower project in the Burj Khalifa area.
