DAMAC Properties has launched the first ever serviced villas in Dubai. ‘DAMAC Villas by Paramount’ is the latest luxury living concept from the largest private developer in the Middle East, in collaboration with Paramount Hotels & Resorts.
The Hollywood-themed DAMAC Villas by Paramount will be set in a private gated community under the Paramount arches in the heart of AKOYA by DAMAC – the 28 million square feet master development, just 10 minutes from Sheikh Zayed Road.
The community will include a ‘California Cool’ styled private beach club and a world-class fine dining restaurant.
DAMAC Villas by Paramount will offer an envious location set on the sides of the Trump International Golf Club, Dubai. DAMAC Properties launched the sales of the villas this morning, following approval from the Real Estate Regulatory Authority (RERA). Prices start from AED 3 million.
DAMAC Properties is already working with Paramount Hotels & Resorts on DAMAC Towers by Paramount, a four-tower development in the Burj Area of Dubai.
“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, DAMAC Properties. “This is one of the finest luxurious living concepts in the whole of Dubai.”
AKOYA by DAMAC will be a fully-integrated community with globally-recognised retail brands, leisure & entertainment offerings, a sports complex and beautifully manicured landscaping throughout.
“We are delighted to be working with DAMAC Properties on a new and innovative project in the region,” said Thomas van Vliet, Chief Executive Officer, PHR FZ-LLC. “Clients can expect the highest standard of finishing, services and customer care – elements which are at the heart of our promise to deliver experiences which are unmistakable, unforgettable and consequentially, unmissable.”
According to the latest figures released by commercial real estate firm Jones Lang LaSalle, villa rents in Dubai have increased by 10 percent year-on-year in prime, established locations and the report predicts the trend is set to continue.
At the heart of AKOYA by DAMAC is the ‘Trump International Golf Club, Dubai,’ - an 18-hole PGA Championship Golf Course which DAMAC Properties is developing in collaboration with 'Trump’, the leading global luxury company in the golf sector and the world’s most recognized brand, developer, owner and manager of world-class properties.
DAMAC Properties has completed 8,890 units to date spanning 9,070,264 sq. ft. it also has a further 19,136 units at various stages of progress across the Middle East region covering 23,816,070 sq. ft. out of which 5,193 units will be completed in 2013.
In October 2011, DAMAC Properties launched its hospitality division, DAMAC Maison, which will provide bespoke services to residents in 7,957 serviced hotel apartments, across 8,280,507 sq. ft. by the end of 2016, with 2,810 serviced hotel apartments to be completed this year. This will position the company as one of the largest Hotel Apartment operators and developers in the world.