Dubai’s Damac awards AED 554 mln contract to China State

02/11/2016 Argaam

Dubai-listed Damac Properties has awarded an AED 554 million contract to China State Construction Engineering Corporation (Middle East) to build the Paramount Residences at its Paramount Tower Hotel and Residences in Dubai, the developer said on Wednesday.

 

The contract covers the main work for 27 floors, Damac said in a statement.

 

The Paramount Tower Hotel & Residences is an 867-key luxury hotel and hotel residences tower on Sheikh Zayed Road. The 64-storey project is scheduled for completion in Q1 2020.

 

The development is one of four being built by Damac in collaboration with Paramount Hotels & Resorts in Dubai and Riyadh.

 

Earlier this year, China State was appointed to carry out infrastructure works at Damac’s Akoya Oxygen project.

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