DAMAC Towers all set to change Dubai skyline

The construction of the iconic US$1 billion 56-storey DAMAC Towers by Paramount resort in the Burj Area of Dubai is going on full swing with all the four towers reaching their 16^th level, according to the developer.

DAMAC Towers in Dubai

The luxury project includes more than 1,800 units comprising approximately 1,000 one, two and three bedroom serviced suites and 800-key 5-star Paramount Hotel. Launched by Paramount Pictures in association with DAMAC Properties on March 12, 2013 each apartment will reflect the style and ambience of the movies produced by the former.

DAMAC Towers by Paramount is currently one of the single largest projects under construction in Dubai. On completion, the total number of floors in the development will exceed Burj Khalifa, the world’s tallest tower. Each tower will stretch more than 250 metres into the air, with 10 podium levels and 58 additional storeys.

DAMAC Towers under construction

 The core walls on each of the four towers have now reached the 16th level, with the slabs already passing the 13th floor of the project, a release from DAMAC properties said.

“Developing such a huge project, with four towers all being constructed simultaneously, has brought some challenges, but we are delighted with the way the project has grown in the past year,” said Niall McLoughlin, Senior Vice President, DAMAC Properties, adding, “DAMAC Towers by Paramount is already an iconic development coming up in the Burj Area and we look forward to opening the first ever Paramount Hotel & Resort anywhere in the world.”

The project includes a multi-level plaza, offering a selection of 11 themed food and beverage concepts, unique meeting and events facilities, a private screening room, wellness & fitness centres, swimming pools, kids club, retail, and merchandise.

After  a phenomenal response to the project, DAMAC recently has announced launching of another Paramount Hotels & Resorts project in Dubai. Paramount Hotel Dubai, Downtown will include 1,250 rooms and suites, making it one of the biggest hotels in the Emirate. The development will support Dubai’s tourism in the run up to the World Expo, 2020.

 DAMAC Properties is also building the 276-key, Paramount Hotel, Jumeirah Waterfront, DAMAC Villas by Paramount within the AKOYA by DAMAC master development and DAMAC Tower by Paramount in Riyadh, KSA.

“We see these unique branded developments with Paramount Hotels & Resorts as a key tranche of our business moving forward,” said McLoughlin.

“The hospitality sector needs to grow three-fold in the coming six years, just to keep up with the number of tourists set for Dubai and we believe that the DAMAC Towers by Paramount developments will prove a huge draw to international visitors,” he further said.

Established in 2002, DAMAC has delivered almost 11,000 units to date and currently has a development portfolio of over 26,000 units, including over 10,000 hotel rooms and serviced hotel apartments, at various stages of construction and planning as on June 2014.

Kingdom Tower piling contract goes to Saudi Bauer

 

 The third board meeting of the Kingdom Tower project, slated to become the world’s tallest building at over 1 km when it is completed in 2017 has formalized the award of the $40.8m (SR: 153m) contract for piling works at the site to the Saudi Bauer Foundation Contractors, which was announced last month.

The company had earlier worked on the piling on the Burj Khalifa in Dubai, currently the tallest building in the world at 828m.

Saudi Bauer has been selected for the piling work by main contractor Saudi BinLaden Group, which has also invested $400m in the project and holds a 16.6% stake in the entity which is developing the scheme, Jeddah Economic Company. Other partners include Saudi Arabia’s Prince Alwaleed’s Kingdom Holding Company with a 33.35% stake, Abraar International Holding Co also with a 33.35% and Jeddah-based businessman Abdulrahman Hassan Sharbatly who holds the remaining 16.67%.

The project was granted a license for the Tower in February 2012 and is scheduled to be completed by 2017. The estimated cost is $1.2bn, and it will be the first part of a wider Kingdom City scheme that is projected to cost $2bn.

Kingdom City Jeddah will be built on a 5.3mn sq m plot on the north of Jeddah overlooking the Red Sea.
Kingdom Tower been designed by Chicago-based architecture firm Adrian Smith + Gordon Gill Architecture (AS+GG). The design team also includes building services engineering consultants, Environmental Systems Design and structural engineer Thornton Tomasetti.

It will be a mixed-use building having a Four Seasons hotel and Four Seasons serviced apartments, besides office space, luxury apartments and an observatory level that will be higher than the world’s current highest observation deck.