Dubai real estate firm Damac Properties has launched sales of its new Paramount-branded villa community, with the project set to include a ‘California Cool’ styled private beach, it was announced on Monday.
Sales of the villas comes just weeks after its previous collaboration with Paramount Hotels & Resorts, ‘Damac Towers by Paramount’, resulted in more than AED1bn ($270m) in sales for the Dubai developer.
The Hollywood-themed villas project will be set in a private gated community under the Paramount arches. Located around 10 minutes from Sheikh Zayed Road, the community will also include a ‘California Cool’ styled private beach club and fine dining facilities.
“The sales at Damac Towers by Paramount have been an unprecedented success for the Dubai real estate market and we anticipate Damac Villas by Paramount to take the sector into a new direction,” said Ziad El Chaar, managing director of Damac Properties.
The new project will be set in the AKOYA by Damac community development, which also includes the 18-hole ‘Trump International Golf Club, Dubai’.
At its previous Paramount launch, Damac said buyers from 32 countries, including Russia and China, had invested in the project and it was set to target Saudi Arabia, Qatar and Singapore.
The Dubai developer has completed 8,890 units to date and has a further 19,136 units at various stages of progress across the Middle East.For all the latest real estate news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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