DAMAC Towers by Paramount in Dubai

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Dubai’s Damac Properties has signed a deal with Paramount Hotels & Resorts to expand its branded hotels offering across the region, the developer announced.

As part of the agreement, new hotels and serviced residences will be launched in Dubai, Abu Dhabi, Jeddah and Istanbul over the next five years, the company said.

Damac has already partnered with Paramount over a slate of different projects in Dubai and Riyadh, including the Damac Towers by Paramount Hotels & Resorts, Damac Villas by Paramount Hotels & Resorts, Paramount Hotel Jumeirah Waterfront, and a serviced hotel apartment project in Riyadh.

“Damac Properties is delighted to be extending its exclusive agreement with Paramount Hotel & Resorts. We are pleased that in the coming years we will be able to expand this concept to many new markets,” said Ziad El Chaar, Managing Director, Damac Properties.

“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,” said Ghassan Aridi, Chairman, Paramount Hotel & Resorts.