Dubai real estate developer Damac Properties said an upcoming US$1bn, five star hotel that will be branded by Hollywood movie firm Paramount sold out its first phase within hours of units going on sale.
Due to open at the end of 2015, Damac Towers by Paramount will be based close to the world’s tallest building, Burj Khalifa, and will reportedly feature two aspects – a 540-unit Paramount Hotel & Residences, and 1,400-unit Damac Maison-Paramount co-branded service hotel residences.
Paramount Pictures, part of media conglomerate Viacom, is a 101-year-old film and television production and distribution studio responsible for films including Titanic, Breakfast at Tiffany’s, The Godfather, Raiders of the Lost Ark, Forrest Gump and Braveheart.
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