Leading real estate developer Damac Properties has announced the completion of the 16th floor on each of its four towers at the $1-billion Damac Towers by Paramount resort in the Burj area of Dubai, UAE.

The luxury project includes more than 1,800 units comprising 1,000 one-, two- and three-bedroom serviced suites and an 800-key five-star Paramount Hotel.

Each will reflect the style and ambience of the movies produced by Paramount Pictures over the past century, said a statement from Damac.

Damac Towers by Paramount is currently one of the single largest projects under construction in Dubai. The total number of floors will exceed that of the Burj Khalifa, the world’s tallest tower, when it is completed in 2016, it added.

According to Damac, each tower will stretch more than 250 m into the sky, with 10 podium levels and 58 additional storeys. The core walls on each of the four towers have now reached the 16th level, with the slabs already passing the 13th floor of the project, it added.

“Developing such a huge project, with four towers all being constructed simultaneously, has brought some challenges, but we are delighted with the way the project has grown in the past year,” remarked Niall McLoughlin, the senior vice president of Damac Properties.

“Damac Towers by Paramount is already an iconic development coming up in the Burj area and we look forward to opening the first ever Paramount Hotel & Resort anywhere in the world,” he added.

The project includes a multi-level plaza, offering a selection of 11 themed food and beverage concepts, unique meeting and events facilities, a private screening room, wellness and fitness centres, swimming pools, kids club, retail, and merchandise.

Such has been the response to the project that Damac has already announced plans to build another Paramount Hotels and Resorts project in Dubai.

Paramount Hotel Dubai, Downtown will include 1,250 rooms & suites, making it one of the biggest hotels in the emirate. The development will support Dubai’s tourism growth in the lead up to the World Expo in 2020.

Damac is also building the 276-key, Paramount Hotel, Jumeirah Waterfront, Damac Villas by Paramount within the Akoya by Damac master development and Damac Tower by Paramount in Riyadh, Saudi Arabia.

“We see these unique branded developments with Paramount Hotels & Resorts as a key tranche of our business moving forward,” noted McLoughlin.

"The hospitality sector needs to grow three-fold in the coming six years, just to keep up with the number of tourists set for Dubai and we believe that the Damac Towers by Paramount developments will prove a huge draw to international visitors," he added.-TradeArabia News Service