Riyadh — Two of the most iconic towers in the heart of Saudi Arabia’s capital, Riyadh, have been topped out less than two years after work began.
Luxury real estate developer Damac Properties has announced that its Damac Esclusiva and Damac Tower by Paramount projects on King Fahd Road have now reached their final heights at 32 and 35 floors, respectively. Blockwork on each tower has also reached the top floors.
The first-of-their-kind developments in the kingdom offer the ultimate luxury living experience, with the 100 private serviced-apartments in Damac Esclusiva designed with interiors by Fendi Casa. Damac Tower by Paramount offers branded-serviced apartments with the feeling and ambience inspired by Paramount Pictures movies over the past century.
“These two projects are proving to be a huge success even before their completion,” said Ziad El Chaar, managing director of Damac Properties.
“We are witnessing a high demand on these exclusive serviced apartments that are extremely well designed to the highest standards of luxury and very well located in the heart of Riyadh. Saudi businessmen and those visiting the capital regularly for business or leisure will enjoy a perfect solution in Damac Esclusiva and Damac Tower by Paramount.”
El Chaar added that the “distinguished Saudi clientele appreciates this standard of property which serves to offer home comforts and privacy in a beautifully appointed home. From a value perspective, investors realise that branded properties are offering higher returns compared to the value of similar properties in terms of size and location. The value of branded properties can reach between 25 to 30 per cent higher based on some expert reports such as Knight Frank’s report on the branded developments.”
Damac Properties is a leader in the field of branded developments through its cooperation with one of the most important and reputed international brands such as Versace, Trump, Paramount and Fendi.