Dubai’s Damac Properties has awarded China State Construction Engineering Corporation Middle East (CSCEC) a $150.8m (AED 554 million) contract to build the Paramount Residences at the Paramount Tower Hotel and Residences in Dubai.
It means CSCEC will build 27 floors of luxury residences in the 64-storey tower on Sheikh Zayed Road, which will also have hotel rooms – with 867 units in all.
Taking its name from the famous American film studio, the development will have a private Paramount Pictures screening room, as well as a rooftop infinity swimming pool and other amenities.
The project is scheduled for completion in Q1 2020.
The project is one of four hospitality projects Damac is developing with Paramount Hotels & Resorts in Dubai and Saudi Arabia, which feature Hollywood-themed hotel rooms.
Yu Tao, president of CSCEC Middle East said: "This represents a significant contract for us in one of the most prestigious hospitality and residential projects in the Middle East. We were appointed this year for the infrastructure works at AKOYA Oxygen and this new contract only cements further our strong relationship with the real estate developer."
The architect on Paramount Tower Hotel & Residences is LACASA Architects and Engineering Consultants.
Image: Artist’s render of Paramount Tower Hotel and Residences in Dubai