According to Dubai Real Estate developer Damac Properties: The Paramount Hotel construction will begin by the first half of 2015.
As said by Damac: They are planning to float the construction works tender for the 1,250 room Luxury Hotel In The Downtown Dubai, soon in 2015 with completion scheduled in 2018.
The senior vice president of Damac, Niall McLaughlin said that they are on a plan to tender the construction of the development in the beginning of the year 2015.
He also stated that they are presently progressing on the concept design and in association with Paramount team. They also anticipate in disclosing the design by the first quarter of next year.
Damac proclaimed Paramount Hotel Dubai, Downtown during Cityscape in September 2014 and this is the fourth development by Damac in alliance with the posh hotel operator, Paramount Hotels and Resorts, the official licensee of Paramount Pictures.
Damac launched its first alliance with Paramount Hotels & Resorts in March 2013 with the $1 billion Damac Towers by Paramount Hotels & Resorts.
As stated by Damac they have delivered approximately 12,000 units since 2002 and at present has a development profile of around 39,000 units.
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