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PICS: Why Indians find this Dubai property irresistible

Last updated on: April 4, 2013 10:41 IST

PICS: Why Indians find this Dubai property irresistible

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Dubai-based private developer DAMAC Properties is launching phase two of a $1 billion project of luxury hotel and serviced residences to Indian investors, following a sell-out event in Dubai.

Photographs, courtesy: DAMAC Properties

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'DAMAC Towers by Paramount', is being developed on platinum real estate in Dubai overlooking the world's tallest tower Burj Khalifa.

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Image: DAMAC Towers.

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It comprises a 540 key Paramount Hotel & Residences and more than 1,000 units of DAMAC Maison – Paramount (Hollywood movie production company) co-branded serviced hotel residences.

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Image: DAMAC Towers.

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Developed by DAMAC Properties in partnership with Paramount Hotel & Resorts (PHR-FZ-LLC), the project will be presented during a road show in Delhi and Mumbai on April 5-6.

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"The response we have seen from Indian investors is unprecedented. Indians have a deep-seated love of movies and our partnership with one of the most established movie houses in Hollywood has proved a big draw.

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"Indian investors make up a huge percentage of our loyal client base and they recognise the intrinsic value of this unique project," Ziad El Chaar, Managing Director, DAMAC Properties, said.

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The one, two and three bedroom serviced hotel residences will be managed by DAMAC Maison, the hospitality division of DAMAC Properties.

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Serviced Hotel residences will feature fully-fitted kitchens and services that also include valet parking, concierge, housekeeping, in-room beauty treatments and 24-hour kids club.

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In addition, owners can elect to add their residence in the 'rental pool' while they are away, allowing for rental returns to be generated.

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DAMAC Properties has completed 37 buildings to date with 7,817 units and spanning 13,945,299 sq feet.

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Fitness centre at the DAMAC towers.

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Swimming pool at the DAMAC Towers.

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The retail area at the DAMAC towers.

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The prices of these luxury apartments start from AED 1.9 million (Rs 2.8 crore).



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