A second Paramount hotel property slated for Dubai
Paramount Hotel Midtown is slated to open in Q1 2022 as announced DAMAC Group. It will have 281 rooms and a selection of restaurants.
Rotana takes over the management of Damac Towers Arjaan by Rotana in Riyadh
The new property brings Rotana’s total tally in the Kingdom to seven hotels and 2,087 keys with a strong development pipeline.
Construction of Oman’s Mina Al Sultan Qaboos Waterfront to begin in November
DAMAC was chosen by the Government of Oman to develop Mina Al Sultan Qaboos, through a joint venture with OMRAN, the government’s investment arm.
Dubai developer DAMAC buys Italian fashion brand Roberto Cavalli
Dubai developer Damac is expected to purchase troubled Italian fashion group Roberto Cavalli. Sources say the judge has already approved the sale and an official announcement is expected this week.
DAMAC looks to the UK though optimistic about Dubai
In a clear demonstration of the UK’s attractiveness as a long-term destination for foreign direct investment, DAMAC International has secured a development financing package of £175m for London’s landmark project, DAMAC Tower at Nine Elms.
USD 2 billion Mina Al Sultan Qaboos is underway
The project includes hotels, residences, food and beverage, retail and entertainment offerings, is inline with the National Strategy for Tourism 2040.
Roberto Cavalli partners with DAMAC Properties for AYKON Hotels
The agreement will see the first-of-many AYKON Hotels with interior design by Roberto Cavalli properties launched in Dubai.
