16 May 2013
DAMAC Properties has announced sales exceeding AED one billion in its DAMAC Towers by Paramount development, which is under construction in the Burj Khalifa area of Dubai.
The Middle East's largest luxury private developer confirmed it has already sold out all units in both phase one and phase two of the luxury hotel and serviced residences, with an average of eight apartments a day were sold since the project launch seven weeks ago.
The company is now bringing the third tranche of apartments to the market early, with road shows in the Kingdom of Saudi Arabia, Qatar and Singapore.
Developed by DAMAC Properties in collaboration with Paramount Hotel & Resorts (PHR-FZ-LLC), the project offers an ambience and reflection of the Hollywood glamour and California cool lifestyle, synonymous with Paramount Pictures over the past 101 years.
"We have sold more than 40 percent of DAMAC Towers by Paramount in just seven weeks," said Ziad El Chaar, Managing Director, DAMAC Properties. "It is testament to the desirability of Dubai's real estate market, especially in the luxury serviced residences sector. The demand for the high-end, refined living in DAMAC Towers by Paramount is unprecedented."
Buyers from 32 countries have already snapped up units in the project, from as far afield as Russia, China, the United States and the United Kingdom. The four towers, which make up DAMAC Towers by Paramount stretch 250 meters high, with one, two and three bedroom serviced hotel residences, which will be managed by DAMAC Maison, the hospitality division of DAMAC Properties.
DAMAC Properties has announced sales exceeding AED one billion in its DAMAC Towers by Paramount development, which is under construction in the Burj Khalifa area of Dubai.
The Middle East's largest luxury private developer confirmed it has already sold out all units in both phase one and phase two of the luxury hotel and serviced residences, with an average of eight apartments a day were sold since the project launch seven weeks ago.
The company is now bringing the third tranche of apartments to the market early, with road shows in the Kingdom of Saudi Arabia, Qatar and Singapore.
Developed by DAMAC Properties in collaboration with Paramount Hotel & Resorts (PHR-FZ-LLC), the project offers an ambience and reflection of the Hollywood glamour and California cool lifestyle, synonymous with Paramount Pictures over the past 101 years.
"We have sold more than 40 percent of DAMAC Towers by Paramount in just seven weeks," said Ziad El Chaar, Managing Director, DAMAC Properties. "It is testament to the desirability of Dubai's real estate market, especially in the luxury serviced residences sector. The demand for the high-end, refined living in DAMAC Towers by Paramount is unprecedented."
Buyers from 32 countries have already snapped up units in the project, from as far afield as Russia, China, the United States and the United Kingdom. The four towers, which make up DAMAC Towers by Paramount stretch 250 meters high, with one, two and three bedroom serviced hotel residences, which will be managed by DAMAC Maison, the hospitality division of DAMAC Properties.
© The Saudi Gazette 2013
