In a strategic expansion plan, DAMAC Properties has inked an exclusive deal with Paramount Hotels & Resorts to expand its branded hotels and serviced living concepts to new cities.

The hotels and serviced residences will be launched over the next five years across Dubai, Abu Dhabi, Jeddah and Istanbul. The new agreement is a major expansion on the current deal which has already seen four different projects announced in Dubai, UAE and Riyadh, KSA.

Each project will bring to life reflections of Hollywood movie studio, Paramount Pictures, which has produced more than 3,000 famous movies over the past 103 years.

DAMAC Properties also recently announced the 'Paramount Hotel Dubai, Downtown' a 1,250 key hotel with luxury rooms and suites. The hotel is expected to open in 2018.

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