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FINANCIAL NEWS
UAE- Damac Properties to market phase 2 of Paramount in Saudi
04 Apr 2013
(MENAFN) UAE’s Damac Properties announced that it is launching the second phase of the USD1 billion Damac Towers by Paramount, which is aimed at attracting Saudi investors, reported Arabian Business.
Damac’s managing director, Ziad Al Chaar, said that over 200 units of the luxury hotel and serviced residences development were sold when the project was launched in Dubai.
Al Chaar added that the project, which will feature 540-unit Paramount Hotel & Residences, and 1,400-unit Damac Maison-Paramount co-branded service hotel residences, is expected to open in 2 years.
It is worth noting that Damac Towers by Paramount is overlooking the Burj Khalifa, the tallest building in the world, in addition to the world’s largest mall in Downtown Dubai.
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