The Paramount & DAMAC are in tandem to build a new Hotel project in Dubai
25/03/2013
After celebrating more than 10 decades in film & television production, the Paramount Company is now in tandem with the largest property development company in the Middle East, DAMAC Properties, to build a five-star hotel which will be located closer to the world’s tallest tower, Burj Khalifa. Both of them agreed to put that $1 billion hotel and apartment complex project into reality.
Based on the plan, the project will consist of four 250-meter towers to be linked by a platform that offers the following: retail, entertainment, restaurants, and an intimate cinema. The first three towers will have a total of 1, 400 DAMAC Maison-Paramount serviced hotel residences, while the last tower will be called as ‘Paramount Hotel and Residences’ that will have a mix of typical hotel rooms and self-service apartments as well.
According to Ziad El Chaar, Managing Director of DAMAC, he said that the Paramount Hotels & Resorts that manages the Paramount’s hospitality portfolio has been also planning to build similar hotels in the following countries: Qatar, Brazil, Carribean, and Indonesia. However, the name of the project in Dubai will be DAMAC Towers by Paramount, which will be the latter’s first international project.
As Chief Executive Officer (CEO) of Paramount Hotels & Resorts, Thomas Van Vliet said that being in partnership with DAMAC which is one of the leading property development companies in the region, it helped advertise the project to some extent that truly reached the targeted audiences.
Based on the plan, the project will consist of four 250-meter towers to be linked by a platform that offers the following: retail, entertainment, restaurants, and an intimate cinema. The first three towers will have a total of 1, 400 DAMAC Maison-Paramount serviced hotel residences, while the last tower will be called as ‘Paramount Hotel and Residences’ that will have a mix of typical hotel rooms and self-service apartments as well.
According to Ziad El Chaar, Managing Director of DAMAC, he said that the Paramount Hotels & Resorts that manages the Paramount’s hospitality portfolio has been also planning to build similar hotels in the following countries: Qatar, Brazil, Carribean, and Indonesia. However, the name of the project in Dubai will be DAMAC Towers by Paramount, which will be the latter’s first international project.
As Chief Executive Officer (CEO) of Paramount Hotels & Resorts, Thomas Van Vliet said that being in partnership with DAMAC which is one of the leading property development companies in the region, it helped advertise the project to some extent that truly reached the targeted audiences.
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