Damac to start construction on new Paramount Hotel Dubai
Located in the UAE city's Downtown area
Damac Properties has announced that construction of its new Paramount Hotel Dubai project is likely to start in the first half of 2015. With completion set in 2018, the Dubai-based developer is planning to float the construction works tender for the 1,250-room luxury hotel in Downtown Dubai by early next year.
Niall McLoughlin, senior vice president of Damac said "We are planning to tender the construction works for the project during the first quarter of next year, most probably in January. We are currently doing the concept design of the project in collaboration with the Paramount team. We expect to reveal the design by the first quarter of next year."