DUBAI-BASED Damac Properties has awarded a Dh1.05 billion ($285 million) deal – its largest single contract ever – to TAV Tepe Akfen Investment (construction and operations) for development of its new luxury hotel and serviced residences project in the Burj area of Dubai.

The ‘Damac Towers by Paramount’ project being developed in collaboration with Paramount Hotel and Resorts, offers an ambiance and reflection of the Hollywood glamour and California cool lifestyle, synonymous with Paramount Pictures over the past 101 years. According to Damac, the construction work will be completed by TAV in the next 33 months. The enabling work has already been completed on site and now the main contractor has to start the construction work, the Dubai developer said.

The four towers that make up Damac Towers by Paramount are brought together with a multi-level plaza, offering an eclectic selection of themed food and beverage concepts, meeting and events facilities, a screening room, wellness and fitness centres, swimming pools, kids club, retail, and merchandise all featuring the Paramount brand or select partner brands.

One tower comprises the Paramount Hotel with the remaining three towers housing the Damac Maison – which are Paramount co-branded serviced hotel residences. Each tower rises more than 250 m into the air.

 Commenting on the win, Yusuf Akcayoglu, the Middle East director of TAV Construction, said: “We are absolutely delighted to be selected by Damac to build this project in Dubai. With the level of quality of our work as well as our expertise in building towers, TAV Construction is the right fit for realising such a demanding project.”

 “This project will redefine luxury and with its distinguished architecture will mark the stunning skyline of Dubai,” he said.

 Damac Towers by Paramount will provide views of the world’s tallest tower, the Burj Khalifa and easy access to one of the world’s largest shopping malls, The Dubai Mall.