DAMAC launches Paramount project in Riyadh
Third collaboration between DAMAC and Paramount in the region
Following the successful launch of two Paramount Hotels & Resorts (PHR) branded projects in Dubai, UAE, DAMAC Properties announced on Monday its plans to build a similarly themed tower at Riyadh in Saudi Arabia.
The new project, which will be called DAMAC Towers by Paramount Hotels & Resorts, Riyadh, will contain 215 luxury serviced residences in studio, one-, two- and three-bedroom sizes, along with a 932m2 penthouse on the top floors.
According to DAMAC, the proposed Paramount tower in Riyadh will reflect “Hollywood glamour and California cool lifestyle,” and will include a spa, high-end restaurants and five-star hotel servicing. The residences will be managed by DAMAC Maison, the luxury hospitality division of DAMAC Properties.
“This new Paramount Hotels & Resorts-branded project in Riyadh offers a contemporary and highly refined design, which brings the flavour of the movies to luxury serviced living,” said Ziad El Chaar, managing director, DAMAC Properties.
“We have seen a huge response from Saudis interested in the projects we are collaborating on in Dubai, and we are delighted that we can bring the Paramount Hotels & Resorts brand to KSA and offer the same high standard of luxury living.”
This project marks the third collaboration between PHR and DAMAC Properties in the Middle East. They had earlier worked together on Paramount Hotel, Jumeirah Waterfront and DAMAC Towers by Paramount Hotels & Resorts, both of which are located in Dubai.
Thomas van Vliet, chief executive officer, PHR FZ-LLC, said, “We are delighted to be working with DAMAC Properties on a third project in the region. Clients can expect the highest standard of services and customer care–elements which are at the heart of our promise to deliver experiences which are unmistakable, unforgettable and consequentially unmissable.”
The new tower will stand next to DAMAC Esclusiva, a 150m tall tower that DAMAC Properties is also developing on the King Fahd Road in Riyadh.