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Old March 6th, 2013, 05:35 PM   #1
Face81
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DUBAI | Damac Towers by Paramount | 279m x 4 | 915ft x 4 | 64 fl x 4 | T/O

Damac, Paramount launch $1bn Downtown Dubai project



Rising over 250 metres, the four tower project will have 540 hotel rooms and over 1,400 service apartments

By Parag Deulgaonkar
Published Wednesday, March 06, 2013

[IMG]http://i50.************/244e81w.jpg[/IMG]
Damac Towers by Paramount (Supplied)

Damac Properties, a Dubai-based developer, on Wednesday launched a $1 billion hotel and branded serviced apartment project in Downtown Dubai, a master development that has seen the maximum project launches to date this year in the emirate.

The developer, in a statement, said the project, christened Damac Towers by Paramount, is being developed in collaboration with Paramount Hotel & Resorts, the official licensee of Paramount.

The four tower project, with each tower rising over 250 metres, will comprise 540 room Paramount Hotel & Residences and over 1,400 serviced apartments in Damac Maison.

The announcement follows the developer’s launch of the two towers in Dubai and Riyadh last month which are being built in partnership with Italy’s Fendi Group. The new project, which is currently under construction, will be completed by end of 2015, according to the developer.


.............



http://www.emirates247.com/business/...03-06-1.497629
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Old March 6th, 2013, 05:38 PM   #2
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Construction update

Quote:
Originally Posted by The-King View Post
12/2012
Pictures by DAMAC





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Old March 6th, 2013, 06:32 PM   #3
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Looks nice, reminds me a bit of the Abu Dhabi Investment Authority Tower.
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Old March 7th, 2013, 03:27 AM   #4
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@Mods: 56 storeys.
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Old March 13th, 2013, 02:49 AM   #5
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http://www.worldarchitecturenews.com...=22186&q=dubai Images: DAMAC
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Old March 21st, 2013, 03:49 AM   #6
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Old March 21st, 2013, 10:57 PM   #7
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Interesting design, bit bulky though. Not keen on podiums either and this is no exception.
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Old March 21st, 2013, 11:11 PM   #8
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cool design, nice to see it's U/C already
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Old March 21st, 2013, 11:15 PM   #9
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Quote:
Originally Posted by AUTOTHRILL View Post
Interesting design, bit bulky though. Not keen on podiums either and this is no exception.
That is good for Dubai.
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Old March 21st, 2013, 11:16 PM   #10
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I didn't like this design
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Old March 27th, 2013, 08:48 AM   #11
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Phase 1 of Damac’s $1bn Paramount project sold out on Night 1 - http://www.emirates247.com/news/emir...03-27-1.500287

The first phase of Damac Towers by Paramount, a luxury hotel and serviced residences in the Burj Khalifa Area of Dubai, has sold out the first phase during an exclusive invite-only launch event.

More than 1,000 investors were in attendance at the IMAX cinema at Meydan Hotel for the ‘premiere’ of the $1 billion development. Executives said the event was among the most successful launches since the Dubai property market resurgence of the past 12 months.

Clients came from as far afield as the UK, the Kingdom of Saudi Arabia, Lebanon, India, Nigeria and Russia. Damac Properties have announced they will release the second phase of apartments during a road show in India and the Kingdom of Saudi Arabia.

Developed by Dubai-based Damac Properties, in partnership with Paramount Hotel & Resorts, the project offers an ambience and reflection of the Hollywood glamour and California cool lifestyle, synonymous with Paramount Pictures over the past 101 years.

“We were blown away with the positive response from clients looking to make their home in one of the most anticipated projects in Dubai,” said Ziad El Chaar, Managing Director, Damac Properties.

“Families seek out places to go and places to stay primarily based on the entertainment proposition. Damac Towers by Paramount offers a unique movie concept for every moment of the stay – this is what makes us different,” he added.

A recent report by Knight Frank showed that projects in Dubai associated with luxury brands are demanding nearly 60 per cent more value than non-branded projects in the same area. The report added that: ‘it seems likely that as global wealth creation expands, the demand for high-quality, branded residential developments in key global centres will undoubtedly rise.’

Damac Properties has already secured approval from RERA, TECOM, and DTCM and the plot of land has been fully paid for. All funds received from the initial unit sales have gone into the Escrow account, specifically tied to the project.

“Residents in the Middle East love going to the movies and enjoy the escapism, anticipation and fantasy that the experience offers,” said Thomas van Vliet, CEO, Paramount Hotel & Resorts.

“The Paramount Hotels & Resorts Hotel, luxury serviced residences and Damac Maison serviced apartments provide that experience in a high-class and stylish manner. The project will bring guests and residents closer to their favourite movies and actors, while creating a refined environment to escape and relax.”

The four towers which make up ‘Damac Towers by Paramount’ are brought together with a multi-level plaza, offering a selection of themed food & beverage concepts, meeting & events facilities, a screening room, wellness & fitness centres, swimming pools, kids club, retail, and merchandise all featuring the Paramount brand or select partner brands. Each tower stretches over 250 metres into the air.

“The initial response from our clients is testament to the recovery in the market and supports our move to develop luxury branded serviced living,” added El Chaar. “We will now bring forward the release of Phase Two of the project to allow those who missed out the opportunity to share in this exciting development.”

For the sale of the second phase of the development, the company will now host events in Mumbai and Delhi on April 5, 2013 and in Jeddah and Riyadh in KSA on April 6, 2013. There will be further events in Dammam and Mecca on April 7, 2013.

The one, two and three bedroom serviced hotel residences will be managed by Damac Maison, the hospitality division of the developer.

Serviced Hotel residences will feature fully-fitted kitchens and services that also include valet parking, concierge, housekeeping, in-room beauty treatments and 24-hour kids club. In addition owners can elect to add their residence in the ‘rental pool’ whilst they are away, allowing for rental returns to be generated.
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Old March 27th, 2013, 09:44 AM   #12
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Where is it actually going to be?
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Old March 27th, 2013, 03:24 PM   #13
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Here
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Old March 28th, 2013, 11:24 AM   #14
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yeah, its at the intersection of financial road and al khail road... could see a few workers there working
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Old April 4th, 2013, 09:10 AM   #15
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Damac to launch Paramount project sales in Saudi - http://www.arabianbusiness.com/damac...di-496550.html

By Andy Sambidge
Wednesday, 3 April 2013 5:17 PM



3
inShare




Damac Properties said on Wednesday it is launching phase two of a $1bn luxury hotel and serviced residences to Saudi investors, following a sell-out event in Dubai.
Damac Towers by Paramount is being developed overlooking the Burj Khalifa and the world's largest mall in Downtown Dubai.
More than 200 units were snapped up in just a few hours when the project was launched in Dubai, making it one of the most sought-after projects in the region.
Damac Properties said it will be presenting the project during a road show in Riyadh and Jeddah on April 6 with further events in Dammam and Makkah on April 7, with exclusive launch prices for the second release of the project.
"The response we have seen from Saudi investors is unprecedented," said Ziad El Chaar, managing director, Damac Properties.
"Our partnership with one of the most established movie houses in Hollywood has proved a big draw. Saudi investors make up a good percentage of our loyal client base and they recognise the intrinsic value of this unique project," he added.
Damac said it has already secured approval from RERA (Real Estate Regulatory Authority) and DTCM (Dubai Tourism and Commerce Marketing) and the plot of land has been fully paid for.
All funds received from the initial unit sales have gone into the Escrow account, specifically tied to the project, the company added.
Due to open at the end of 2015, Damac Towers by Paramount will be based close to the world’s tallest building, Burj Khalifa, and will reportedly feature two aspects – a 540-unit Paramount Hotel & Residences, and 1,400-unit Damac Maison-Paramount co-branded service hotel residences.
Paramount Pictures, part of media conglomerate Viacom, is a 101-year-old film and television production and distribution studio responsible for films including Titanic, Breakfast at Tiffany’s, The Godfather, Raiders of the Lost Ark, Forrest Gump and Braveheart.
A recent report by Knight Frank showed that projects in Dubai associated with luxury brands are demanding nearly 60 percent more value than non-branded projects in the same area.
The report added that "it seems likely that as global wealth creation expands, the demand for high-quality, branded residential developments in key global centres will undoubtedly rise".
The one, two and three bedroom serviced hotel residences will be managed by Damac Maison, the hospitality division of Damac Properties.
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Old May 3rd, 2013, 12:48 PM   #16
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2013 - April





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Old May 16th, 2013, 05:39 AM   #17
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Dubai's DAMAC Towers by Paramount sales top $272m

Quote:
on May 15, 2013

DAMAC Properties has announced sales exceeding AED1bn ($272m) in its DAMAC Towers by Paramount development, which is under construction in the Burj Khalifa area of Dubai.
http://www.constructionweekonline.co.../#.UZRCF7V01ik
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Old May 16th, 2013, 12:31 PM   #18
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I wonder how this will turn out in reality. At least on the renders it looks quite cool so far.
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Old May 23rd, 2013, 07:53 PM   #19
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any new photos about this building?
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Old May 24th, 2013, 12:06 AM   #20
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dubai really has its come back. with these, the address blvd. and possibly the lagoons coming back with a lot of towers!
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