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FINANCIAL NEWS
Dubai’s Damac, US Paramount launch USD1b hotel project
07 Mar 2013
(MENAFN) Damac Properties announced the launch of the USD1 billion Damac Towers by Paramount in Downtown Dubai, reported Emirates 24/7.
Managing Director, Ziad El Chaar, said that the 4-tower hotel and branded serviced apartment project is being developed with Paramount Hotel & Resorts.
El Chaar added that the height of each tower, which will include 540 room Paramount Hotel & Residences and more than 1,400 serviced apartments in Damac Maison, is 250 meters.
Furthermore, one tower will include the Paramount Hotel & Residences and will be managed by Paramount Hotels and Resorts, whereas the other three will be managed by the Damac Maison, which is the hospitality unit of Damac Properties
It is worth noting that in February, Dubai-based Damac launched 2 towers in Dubai and Riyadh, with the two projects being established in collaboration with Italy’s Fendi Group.
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BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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