Damac Properties, a leading real estate developer, has announced that its luxury hotel and serviced residences Damac Towers by Paramount Hotels & Resorts, located in Dubai’s Burj area, has topped out.

At the opening of the 2016 Arabian Travel Market (ATM) in the UAE emirate, executives announced that in addition to this project milestone, the façade work of the $1.3-billion four-tower complex is at 60 per cent completion.

The interior fit-out is progressing by the day with a significant acceleration in construction in recent months, said the officials.

Damac Towers by Paramount Hotels & Resorts is currently one of the single largest projects under construction in Dubai. The towers, expected to be completed in 2017, will each stretch more than 250 m into the air, with 10 podium levels and 58 additional storeys.

The total number of floors in the development and combined height of the four towers will exceed those of the Burj Khalifa, the world’s tallest tower, they stated.

Developed by Damac Properties in collaboration with Paramount Hotels & Resorts, the project offers an ambience and reflection of the Hollywood glamour and California lifestyle, synonymous with the Paramount Pictures Studio over the past 104 years.

On the key milestone, Ziad El Chaar, the managing director of Damac Properties, said: "Today is a significant breakthrough for this project and we are pleased with how construction at Damac Towers by Paramount Hotels & Resorts is progressing."

“The 1,200 luxury serviced residences in three of the towers will offer luxurious living with a Hollywood flavour. The fourth tower, the Paramount Hotel, will house more than 800 rooms and suites. When the residences are handed over, they will offer contemporary and stylish facilities with a host of amenities to enjoy, including a high-end shopping destination at owners’ doorsteps as well as the finest luxury service standards,” he stated.

Speaking at the topping out ceremony, Ghassan Aridi, the chairman of Paramount Hotels & Resorts, said: "We are very excited to be here today to mark what is the most significant milestone in the project, apart from its completion, with the towers having reached their full height."

"This is a much-anticipated achievement for us, as it will be the world’s first-ever Paramount Hotel and Paramount Residences, and it will also represent the premiere of the Paramount Hotels & Resorts brand in the UAE," he added.

According to him, Dubai has built a reputation as a leisure destination, with impeccable service standards and lifestyle offering.

"Damac Towers by Paramount Hotels & Resorts will seamlessly combine the timeless Hollywood glamour of the movie industry with Dubai style," observed Aridi.

"Paramount Hotel includes an impressive lobby with a coffee lounge and chocolaterie. Like a jewel in the crown, it also includes a spectacular reception area, featuring 360-degree floor-to-ceiling digital walls, which makes you feel like a movie star," he stated.

The project provides a wide range of restaurants set within a cinematic environment, which also comprises of a Lebanese-style restaurant, a Californian-styled restaurant, as well as a gourmet grocer and deli, he added.-TradeArabia News Service