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Damac tops out $155m Paramount Tower Hotel and Residences

Casting wok of the 64-storey tower's infinity pool is complete, with external façade being having noted 80% progress

Paramount Tower Hotel and Residences is located on Sheikh Zayed Road.
Supplied
Paramount Tower Hotel and Residences is located on Sheikh Zayed Road.

Dubai Financial Market-listed (DFM) real estate developer Damac Properties, chaired by Hussain Sajwani has topped out its 64-storey mixed-used development, Paramount Tower Hotel and Residences — a construction contract worth $150m (AED554m) for which was awarded to China State Construction Engineering Corporation Middle East (CSCEC ME) in November 2016.

Located on the city’s Sheikh Zayed Road and developed in collaboration with Paramount Hotels & Resorts, the tower’s external façade has been 80% complete.

In a statement Damac said that casting wok of the infinity pool has also been completed, with the building also set to feature Paramount Hotel, and luxury residences.

Speaking about the milestone achievement, senior vice president at Damac, Niall McLoughlin, said: “The topping out of Paramount Tower Hotel and Residences with one of Dubai’s highest infinity pools overlooking Downtown Dubai is testament to our commitment to bringing the most differentiated living experiences to the region.”

The supertall structure also features restaurants, lounges, rooftop terrace, fitness, and wellness centres, and a business centre.

Earlier this month, Damac had topped out the northern tower of its first London development, Damac Nine Elms, after laying the final floor slab of the project. 

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Construction Week - Issue 754
Nov 23, 2019