Dubai-based Damac Properties has awarded a AED1bn ($272m) contract to Turkey’s TAV Tepe Akfen Investment to build its new luxury hotel and serviced residences project in the emirate’s Downtown area. The company said the award for the Damac Towers by Paramount its largest ever in a single contract.

The four towers that make up the project are linked by a multi-level plaza. One tower comprises the Paramount Hotel with the remaining three towers housing the Damac Maison-Paramount co-branded serviced Hotel Residences. Each tower stretches over 250 metres into the air.

Damac said enabling works have already been completed onsite and construction work will take 33 months to complete.

In total, the developer has completed 37 buildings with 7,817 units, and has a further 66 buildings at various stages of progress across the Middle East and North Africa (Mena) region. Damac recently received bids for its Lotus Towers project at Business Bay and has started construction on its Akoya Golf Community in Dubailand, which will include the Trump International Golf Club.