Dubai-based DAMAC Properties plans to invest $1 Billion for developing realty projects. The Group expects to gain some Indian investors.
The opening ceremony of DAMAC Towers by Paramount, one of the most noticed projects of DAMAC Properties.
DAMAC Properties is pondering over having an investment in India. The Dubai-based private developer will invest $1Billion for developing realty projects.
DAMAC Properties has informed that they will be soon launching the second phase of its $1Billion project. Under the second phase luxury hotels and serviced residences will be developed.
DAMAC Towers by Paramount is on its way to completion. The premium luxury hotel tower is being developed in the prime location in Dubai. The project is located in the Burj Area in the same location of the world’s tallest tower Burj Khalifa Dubai.
The tower comprises 540 prime Paramount Hotel and Residences. Additionally there are 1000 units of DAMAC Maison – Paramount co-branded serviced hotel residences in the tower.
Indian investors are expected to invest in the realty projects of DAMAC properties.
DAMAC Towers by Paramount is a joint venture between DAMAC Properties and Paramount Hotel & Resorts. The project was presented in Delhi and Mumbai in the last week.
DAMAC Properties’ Managing Director Ziad El Chaar said that the project received good response from the Indian investors. He added that Indian investors make a good percentage of their clients.
He opined that there is a deep love for Hollywood movies among Indians. So by partnering with one of the well-established Hollywood movie houses, the group aims to attract investors from India.
This unique project is one of the best investment options. It is noticed for its intrinsic value appreciation. DAMAC Maison will manage the 1, 2 and 3 BHK serviced hotel residences. DAMAC Maison is the hospitality division of DAMAC Properties.
Fully-fitted kitchens and other services make these serviced hotel residences more favorites. Other services include housekeeping, valet parking, concierge, in-room beauty treatments and round the clock kids club, and lots more. All the more the owners will have the option of keeping their residences on rent while they are away. It thus lets them have a source of income as well.