‘DAMAC Towers by Paramount’ Brings Hollywood Glamour to Middle East Living and Hospitality

20130317_hero-paramount-exterior20130317_hero-paramount-cigarlaunge20130317_hero-paramount-apartment-lobby20130317_hero-paramount-pool20130317_hero-paramount-bedroomParamount Hotels and Resorts, the Official Licensee of Paramount Pictures, and
DAMAC Properties Launches the first Paramount-Branded Hotel in the Middle East
US$ 1 Billion Five-Star Hotel and Branded Serviced Hotel Residences
in Burj Khalifa Area, Dubai.

Global Launch at ITB Berlin – the World’s Leading Travel Trade Show
From “The Godfather”, “Breakfast at Tiffany’s” and “Titanic”, Paramount Pictures has become synonymous with
entertainment and above all creativity, and today the brand stands for more – adventure and escape. Now, in its
101st year, the global launch of ‘DAMAC Towers by Paramount’ in Dubai marks the company’s first venture into
the hotel and real estate industry.

Paramount Hotels and Resorts, the Official Licensee of Paramount Pictures, and
DAMAC Properties Launches the first Paramount-Branded Hotel in the Middle East
US$ 1 Billion Five-Star Hotel and Branded Serviced Hotel Residences
in Burj Khalifa Area, Dubai.

DAMAC Towers by Paramount
The lobby of DAMAC Towers by Paramount
In an exclusive partnership with DAMAC Properties, the leading luxury private developer in the Middle East, and
Paramount Hotel & Resorts (PHR-FZ-LLC), the official licensee of Paramount, ‘DAMAC Towers by Paramount’,
will comprise a 540 key Paramount Hotel & Residences and more than 1,400 units of DAMAC Maison –
Paramount co-branded serviced hotel residences located in the heart of the downtown Burj Khalifa area in Dubai, a
new tourism hotspot.

The US$ 1 billion ‘DAMAC Towers by Paramount’ is currently under construction, and once completed by the
end of 2015, will provide enviable views of the world tallest tower, the Burj Khalifa and provide easy access to one
of the world‟s largest shopping malls, The Dubai Mall. This area welcomed more than 65 million visitors in 2012, an
increase of over 20 percent compared to 2011. The number is more than the amount of annual tourists to New
York City (52 million).

Speaking at ITB Berlin, the world‟s leading travel trade show, in order to launch the project to the global travel
market, DAMAC Properties Managing Director, Ziad El Chaar, said: “The history, glamour and tradition of the
movies indirectly transcend every element of the design and ethos of this aspirational project. We will employ the
same, tried and tested production process, pioneered by Paramount Pictures at the studio, to direct, design and
detail a world-class experience. The Paramount brand stands for more than exceptional film and entertainment: it’s
an inviting lifestyle.”

The four towers which make up ‘DAMAC Towers by Paramount’ are brought together with a multi level plaza, offering an eclectic 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.
One tower will comprise of the Paramount Hotel & Residences with the remaining three towers, housing the
DAMAC Maison – Paramount co-branded serviced Hotel Residences.

“Most people know the famous Paramount Pictures logo, with the mountain and 22 stars, and they also watched
many of the iconic movies the studio produced. The hotels, resorts and residences produced by PHR FZ-LLC will
be developed using the creative process honed over Paramount’s 100 year history. Warm service, design,
entertainment, food, beverage and spa concepts will combine magically to mark a new chapter for the brand and to
set a rare standard in luxury hospitality,” said Thomas van Vliet, Chief Executive Officer, PHR FZ-LLC.
Further, he explained that: “‘DAMAC Towers by Paramount’ will include a series of dynamic and sensory
experiences that live up to our mantra of producing hospitality that is unmistakable, unforgettable and
consequentially unmissable. The guests in our audience will be led on a journey that delights the eyes and
engages the emotions. We are thrilled to be partnering with DAMAC Properties on this mega project and sharing
this exciting news today.”

Drawing on the 100 year history of Paramount, ‘DAMAC Towers by Paramount’ will showcase authentic
California lifestyle, the glamour of Hollywood, and be conceived as a “major release” by a team of uniquely creative
people, working together in a uniquely creative process. Reassuring signatures of the Paramount brand, including
access to the Paramount movies library, a Paramount screening room and creative usage of the transformational
elements like digital signage, media mapping and lighting effects throughout the public areas will be complemented
by accents of local colour.

The hotel and one, two and three bedroom serviced residences in the “mixed tower” will be managed by Paramount
Hotels and Resorts, whereas the one, two and three bedroom serviced hotel residences as well as the ultra
luxurious penthouses in the other three towers will be managed by DAMAC Maison, the hospitality division of
DAMAC Properties.

Serviced Hotel residences will feature fully-fitted kitchens and services that also include valet parking, concierge,
housekeeping, in-room beauty treatments, a child minding service and 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.
“We have been saying for a while that the luxury serviced hotel apartments sector is set to drive the resurgence in
the Dubai property market, and ‘DAMAC Towers by Paramount’ is the realization of that prediction. The project provides a unique opportunity for both the end-user and the investor,” added Al Chaar.

A recent report by Knight Frank stated 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
centers will undoubtedly rise.”

Luxury branded hotel apartments in Dubai are attracting prices in the region of AED 5,000 per sq. ft. compared to
ordinary unfinished apartments in the same area attracting AED 3,000-3,500 per sq. ft.
ITB in Berlin is the largest travel and trade show in the world, providing an unrivaled business-to-business platform
for trade professionals to do business and discover the latest trends in the industry.

DAMAC Properties has completed 37 buildings to date with 7,817 units and has a further 66 buildings at various
stages of progress across the Middle East and North Africa region. These consist of 12,100 units.

Paramount Hotels & Resorts is a lifestyle hospitality company that celebrates the power of creativity in all its forms
– entertainment, design, service, cuisine, wellness, and technology – to meet the needs of the new creative spirits
of discerning luxury travelers.

For further information, leads, or to meet with a Damac properties consultant, reach me on: Phone: +2347067418088, email: ayiranor@mysolutionhub.com or visit: http://www.affordableluxuryindubai.blogspot.com


4 thoughts on “‘DAMAC Towers by Paramount’ Brings Hollywood Glamour to Middle East Living and Hospitality

  1. Hi just a warning when dealing with Damac . I bought an apartment in 2007 they had no intention of building it it took me 5 years and legal fees and air fares to get my money back less 5 % and loss of all that interest . This company has no integrity so beware when handing over your money all is good till you sign . They even sent me false pictures that they were building . BEWARE OF THIS COMPANY

  2. Hello George Georgiou
    I do completely understand your grief. it so happen that you invested with Damac at a bad time. it was during or almost when the real estate in Dubai was about to crush and for that matter the recession was in place in 2008. During that period most constuction where on hold, even then Damac delivered some of it projects. However since that recession period there has been systems but in place by the Dubai Government to safe gaurd the investors from all over the world. currently its not only safe to invest in Damac Properties but Dubai as a whole.

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