Paramount Tower Hotel and Residences is a 64-storey building that combines a residential tower and a luxury hotel. It was developed by DAMAC Properties and has a total of 826 residential properties.
Floors 15 through 25 feature one-bedroom hotel rooms ranging in size from 843 sq. ft (78 sq. m) to 1,048 sq. ft (97 sq. m). Two-bedroom units can also be purchased and have a minimum size of 1,369 sq. ft (127 sq. m). Properties include a home theatre with access to Paramount’s movie library.
Floors 26 through 63 feature residential studios and one- to three-bedroom apartments. Units range in size from 520 sq. ft (48 sq. m) to 1,477 sq. ft (137 sq. m). The top floor features a panoramic pool with a sun terrace.
Construction on the complex began in 2015 and was completed in 2019. Almost all of the complex is available to purchase, and units offer good investment opportunities.
The return on investment rate for a property at Paramount Tower Hotel and Residences is 6.4%, per annum. Owners can make a net profit from renting a property out or from its subsequent resale.