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PROJECT DESCRIPTION
OVERVIEW
Damac Towers by Paramount is a completed mixed use real estate development located in Business Bay, Dubai, United Arab Emirates. The project comprises a group of four high rise towers arranged on a shared podium and forms part of the wider Business Bay master development. The complex is known for its association with the Paramount entertainment brand and integrates residential, hotel and hospitality functions within a single architectural compound. Each tower rises to 66 storeys above ground level with two basement levels allocated for parking and building services.
LOCATION & TRANSPORT
Damac Towers by Paramount is situated in the Business Bay district approximately two kilometres south of Downtown Dubai. Business Bay is a major mixed use urban area developed around the Dubai Water Canal and positioned between Sheikh Zayed Road and Al Khail Road. The development benefits from its proximity to Downtown Dubai which contains the Burj Khalifa, Dubai Mall and a range of corporate, entertainment and tourism destinations. This positioning places the towers within one of the principal commercial corridors of the city.
AMENITIES & SURROUNDING
The podium and ground floor areas of the complex include a range of hospitality venues and service outlets. Restaurants include Pacific Groove Restaurant and Lounge, Craft Table and Juyi Dubai while leisure themed venues such as Flashback Speakeasy Bar and Malibu Deck operate within the hotel section of the project. Other retail units within the complex include convenience stores, cafes and personal care outlets serving both residents and hotel guests. Within walking distance are several additional retail and dining venues located in neighbouring towers.
MARKET
The project was developed by Damac Properties through its subsidiary Damac Star Properties. Architectural design services were provided by KEO International Consultants while the main contractor was TAV Construction with foundation works undertaken by Conin Incorporated Consultants. The overall project valuation recorded by the Dubai Land Department is approximately AED 1.2625 billion. The towers share a podium level which accommodates parking, services and shared facilities for the complex. The design incorporates elements influenced by film production aesthetics reflecting the Paramount brand association. Interior spaces include themed decorative elements, screening lounges and entertainment inspired communal areas. The podium hosts shared leisure facilities including swimming pools, restaurants and wellness spaces. The combination of residential units and hotel operations positions the complex within the category of branded residences which has become a recognised segment of Dubai residential development.
CONCLUSION
The project was developed by Damac Properties through its subsidiary Damac Star Properties. Architectural design services were provided by KEO International Consultants while the main contractor was TAV Construction with foundation works undertaken by Conin Incorporated Consultants. The overall project valuation recorded by the Dubai Land Department is approximately AED 1.2625 billion. The towers share a podium level which accommodates parking, services and shared facilities for the complex. The design incorporates elements influenced by film production aesthetics reflecting the Paramount brand association.