Luxury real estate developer Damac Properties has signed an exclusive deal with Paramount Hotels & Resorts to expand its branded hotels and serviced living concepts to new cities around the UAE over the next five years.

New hotels and serviced residences will be launched in Dubai and Abu Dhabi, UAE; Jeddah, Saudi Arabia; and Istanbul, Turkey.

Each project will bring to life a style and ambience reflective of the famous Hollywood movie studio, Paramount Pictures, which has produced more than 3,000 famous movies over the past 103 years.

“Damac Properties is delighted to be extending its exclusive agreement with Paramount Hotel & Resorts – a deal which will present many new and exciting opportunities to bring the Hollywood lifestyle and California cool to many more premium locations,” said Ziad El Chaar, managing director, Damac Properties.

Damac Properties is already working with the hospitality company on a four-tower hotel and serviced residences project in the Burj Area of Dubai and a serviced hotel-apartments project on King Fahd Road in Riyadh, Saudi Arabia.

During Cityscape Global last month, Damac also announced the building of ‘Paramount Hotel Dubai, Downtown’ - a 1,250-key hotel with luxury rooms and suites on a plot located just off Sheikh Zayed Road in the Downtown, Dubai, which will open its doors in 2018.

Ghassan Aridi, chairman, Paramount Hotel & Resorts, said: “The reception to the Paramount Hotels & Resorts-branded hospitality concept has been overwhelming and when it came to expanding the brand further, there was no question that we should do so in partnership with Damac Properties. Positioned in key locations, the new developments will be a series of dynamic and sensory experiences that live up to our mantra of producing hospitality that is unmistakable and unforgettable.” – TradeArabia News Service