What will Dubai think of next?
The city known for being a real estate and business paradise, ridden with mammoth shopping malls, hotels, and skyscraping buildings, will add one more item to its growing list of enterprise.
United Arab Emirates-based Luxury developer DAMAC Properties has partnered up with Paramount Hotel and Resorts, the entertainment company that has films such as "The Godfather," "Forrest Gump," and "Titanic" under their belts, to open their first film-themed resort.
DAMAC Towers by Paramount will offer 540 rooms for either residency or temporary stay in Dubai's downtown Burj Khalifa neighborhood.
Construction began earlier this year, after the two entities announced their partnership, and is projected to finish up at the end of 2015, CNN reports.
DAMAC consists of 250-meter-tall towers (roughly 820 feet) and bears a $1 billion price tag. The projected design belies the numbers, as the swanky accommodations include themed restaurants and bars, swimming pools, gyms, a movie theater, (naturally), and access to Paramount's cache of films in the rooms.
"The history, glamour and tradition of the movies indirectly transcend every element of the design and ethos of this aspirational project," said DAMAC Properties managing director, Ziad El Chaar. "We will employ the same, tried and tested production process, pioneered by Paramount Pictures at the studio, to direct, design and detail a world-class experience."
Paramount also plans to continue developing more real estate in cities like Dubai that function as gateways to the globe.
The next project will be to open a resort in Boao, on Hainan Island, China-projected for completion in 2016.
Judging by the initial popularity, these business ventures don't seem like too shabby of ideas for Paramount Hotels and Resorts: DAMAC said the towers have already sold out their first level properties during a private launch event last week.
This article is copyrighted by Travelers Today, the travel news leader
