Project Summary

Project Name:

Paramount Tower Hotel and Residences


Location

Business Bay


Developer

Damac


Handover Date:

Q4 2020


Type:

Apartment


Bedroom(s):

- Studio


Average Area:

517 SQFT


Average Price:

980000


Price/Sqft:

1895.55 AED


Payment Plan

During Construction

50%

On Handover

10%

Post Handover

40%

Damac

Paramount Tower Hotel and Residences

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About the Project

Paramount Tower Hotel and Residences by Damac is a luxury hotel and residences tower on Sheikh Zayed Road. Paramount Tower Hotel and Residences is a 64-storey project which is offering sky lobby with views across the Burj area. It is surrounded by some of the most distinguished landmarks in the world, Paramount Tower Hotel & Residences Dubai is set on the famous Sheikh Zayed Road, adjacent to the Business Bay area, which combines commercial, residential, hospitality, entertainment, shopping and leisure facilities in an inspired, central setting. The striking hotel and residential tower boast incredible views of the surrounding area, including the Burj Khalifa, along with vistas of the Palms, The World Islands and the iconic Burj Al Arab. Dubai International Airport is just a 15-minute drive away and there are two metro stations in close proximity.

 The hotel

Floors 15 to 36 present a selection of beautiful hotel rooms which not only offer an incredible experience for guests but also provide the opportunity for a very lucrative investment too.

Rooms are tailored for comfort and but also to inspire creativity. They feature a spectacular in-room home theatre and access to a library of Paramount films. When the credits roll, the signature bed is the grand finale to your day.

The residences

For those seeking a little more room, with separate living and dining areas as well as numerous bedrooms, floors 37 to 63 offer a collection of luxury residences. Combining the comforts of home with the Paramount amenities and service, if you wish to take that option, they are great investments that are easily let out if you’re away.

Whatever your choice of property, whilst in residence, you can experience the height of fashionable living; and when you’re away, you’ll earn impressive rental income.  

  • Grand lobby
  • Ample parking
  • Two and three-bedroom apartments
  • Two exclusive penthouses
  • Restaurants and lounges
  • Retail outlets including The Vault, Paramount Hotels & Resorts' merchandise store
  • Wellness and fitness centre
  • Steam room and sauna
  • Kids Studio Club
  • Luxury spa
  • Meetings and events facilities
  • Screening room modelled after the professional studios at Paramount
  • Temperature-controlled swimming pool
  • State-of-the-art gymnasium

 

About Location

Business Bay is a central business district located besides Downtown Dubai, United Arab Emirates. The project features numerous skyscrapers located in an area where Dubai Creek has been dredged and extended. Business Bay will have upwards of 240 buildings, comprising commercial and residential developments.The entire development covers an area of 46,900,000 sq ft (4,360,000 m2), and the gross leasable area is 78,500,000 sq ft (7,290,000 m2). The projected population of the entire development is more than 191,000, and the estimated population of employers and others is 110,000, making the total population more than 300,000. In Dubai Business Bay is known to be a mixed-use neighbourhood with residential and commercial areas and is home to several high-end hotels including the former tallest hotel in the world JW Marriott Marquis. Business Bay is also closely located to the upcoming design destination, Dubai Design District and one of Dubai’s oldest hotspots, Jumeirah. Popular off-plan communities to invest in Business Bay include Reva Residences by Damac, Binghatti Star by Binghatti Developers and Vera Residences by Damac.

About the Developer

Damac properties are one of the leading luxury developers in the Middle East since 2002 they have delivered to more than 18500 customers with a development portfolio of more than 40,000 units at various stages of progress and the number grows daily. The developers pride itself on its uncompromising commitment to service excellence.  The highly experienced management team of directors and senior managers has significant experience in the real estate and construction industry. The company has also released two master developments in Dubai, totalling nearly 100 million square feet between them. In January 2017, DAMAC Properties had awarded more than 370 contracts worth AED 3.5 billion. The contracts included construction, supplier and consultancy services across its portfolio of developments. Projects like Artesia, Aurum Villas, Akoya City Tower B, Carson and Damac Heights are some of the iconic developments by Damac Properties. 

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