Business | Tourism
Pearl Dubai to develop Dh2.5b Baccarat projects
In a move to bring a touch of Parisian glamour to the UAE, Pearl Dubai, a consortium of investors developing the Dubai Pearl, has announced the development of a Dh2.5 billion Baccarat Hotel and Residences.
- By Emily Corfe, Sub-Editor
- Published: 14:17 July 19, 2008
- Dubai Pearl, which will combine an active business district with a quality urban lifestyle, will host a Baccarat Hotel and Residences. The residences will include over 300,000 square feet of luxury designed by the French crystal makers.
- Image Credit: Supplied picture
Dubai: In a move to bring a touch of Parisian glamour to the UAE, Pearl Dubai, a consortium of investors developing the Dubai Pearl, has announced the development of a Dh2.5 billion Baccarat Hotel and Residences.
Nestled in the hub of the Dubai Pearl free zone, the Baccarat residences will include over 300,000 square feet of luxury designed by French crystal makers Baccarat.
Private swimming pools, roof gardens, crystal chandeliers and sweeping staircases are all part of the plan.
Baccarat is best known for its tableware, vases and jewellery - and is a firm favourite with royal households around the world.
Unique blend
Abdul Majeed Al Fahim, chairman of Pearl Dubai, said: "The Baccarat Hotel and Residences will reflect the brand's singular blend of art and glamour and enhance the dynamics of the local environment."
Scheduled for completion on 2011, the Dh1.5 billion hotel will boast 342 rooms and over 500,000 sq ft of floor space.
Pearl Dubai teamed up with US-based real-estate investment group Starwood Capital Group to develop the properties.
At the signing ceremony, Barry Sternlicht, chairman of Starwood Capital Group, said: "For centuries Baccarat has built a reputation of providing elegant luxury products, and now we are thrilled to have the opportunity to craft these same elements in a prestigious destination such as Dubai Pearl."
Speaking to Gulf News, Al Fahim said: "We are looking at a brand that is going to have a roll-over impact on the market and be applicable elsewhere. All of my business models are about sustainability. This is what our project stands for... It's going to be a livable and breathable city with a good atmosphere for walking."
Dubai Pearl will combine an active business district with a quality urban lifestyle.
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