Paramount Tower Hotel & Residences was launched by Damac Properties in June 2015. This project is located in a fantastic location right infront of the Executive Towers, close to the entrance of Business Bay and walking distance to the Metro-station.
- Podium Levels 1 - 10
- Hotel Levels 15 - 35
- Residences Levels 38 - 61
- Rooftop infiniti swimming pool
- Fitness & well care center
- Two restaurants
- Delivery scheduled for Q3 2019
What is for sale right now?
As of February 2016, both components of the project are available for sale - apartments and hotel rooms. The apartments are on the upper levels of the building while the hotel rooms are for sale between floors 15 - 35.
What is for payment-plan
The developer is offering a construction linked payment-plan; i.e. the developer will charge installments as the Dubai Land Department verifies construction progress.
- 20% down-payment
- 10% within 6 months
- 10% within 12 months
- 10% when project is 20% complete
- 10% when project is 40% complete
- 10% when project is 50% complete
- 10% when project is 60% complete
- 10% when project is 70% complete
- 10% when project is completed
Project Completion Status (as per DLD): 11.70% (as of May 22, 2017)
Dubai Land Classification & Escrow Account Details:
Land Number: 53
Project Number: 1665
Real Estate Developer: NAMAA PROPERTIES DEVELOPMENT
Trust Account Number: 1001698784
Account Trustee Name: COMMERCIAL BANK OF DUBAI
RERA Permit No:: 11045
Brokerage Firm: Taktical Realty Group LLC