Construction work on DAMAC Towers by Paramount Hotels & Resorts in Dubais Burj area is over 85 percent complete.
Developed by DAMAC Properties in collaboration with Paramount Hotels & Resorts, the project continues to make good progress with superstructure works 100% complete, and internal finishes, façade works, MEP works, carpentry and joinery works nearing completion.
The complex comprises four towers stretching 250 metres high and will feature one, two and three bedroom luxury serviced branded apartments.
DAMAC Properties is currently selling units in three of the towers to be operated under its DAMAC Maison brand, with the development having an estimated sales value of $1.35bn.
One tower will contain a five-star hotel complex to be operated by Paramount Hotels & Resorts, which will have over 800 rooms.
The successful collaboration between DAMAC Properties and Paramount extends across various projects, including the $500mn Paramount Tower Hotel & Residences strategically located on Sheikh Zayed Road in Dubai.
China State Construction Engineering Corporation was awarded a AED 554mn contract to build the 27 floors that comprise the luxury residences.