Dubai Pearl to Paris to unveil Dhs2.5bn Baccarat Hotel and Residences

Notes and media contacts

Dubai Pearl:
Dubai Pearl is a $4bn world class, mixed-use development by Pearl Dubai FZ LLC. Located opposite the Palm Jumeirah in the heart of the Dubai Technology and Media Free Zone, a state-of-the-art business cluster operated by TECOM and home to global IT and media companies.

Dubai Pearl is a landmark destination offering spectacular views of the Dubai coast. The development will redefine the pulse of new Dubai providing a 24-hour living city with commercial, retail, residential and leisure facilities. Designed with people in mind to create an all year round walkable environment, the Dubai Pearl will service the Dubai Technology and Media Free Zone and its communities.

Set for completion at the end of 2010, Dubai Pearl's prime location will offer an unparalleled combination of free-hold in the convenience of a freezone with luxury, energy efficient sustainability and state-of-the-art technology.

Starwood Capital Group:
Starwood Capital Group has been a leader in real estate investments since 1991. Its international investor base includes some of the United States' largest state and corporate pension funds, endowments and foundations and high-net worth families from around the world. During the past fifteen years, Starwood Capital and its affiliates have invested approximately $6bn of equity capital in transactions representing over $30bn of asset value. Starwood has closed and/or advised on over 215 transactions ranging in size from $1m to $14.6bn, and has acquired equity interests in residential and multifamily, hotels, office, retail and industrial space, golf and leisure-related properties.

Starwood's most recent transactions include the $3.2bn acquisition of Groupe Taittinger and Societe du Louvre, Europe's second largest hotel network with a unique collection of 14 luxury hotels in Europe, including France and Switzerland, in addition to managing over 800 budget hotels throughout Europe plus the approximately $1bn acquisition of 32 Le Meridien luxury, four/five star hotels located primarily across Europe but also in North America, Africa and South America. Starwood has led the formation and growth of several market leading companies including iStar Financial, the leading publicly traded finance company specializing in commercial real estate mortgage, mezzanine and net lease financing; Starwood Hotels & Resorts Worldwide, a leading global owner/operator of hotels, with ownership of brands such as Sheraton, Westin, The St. Regis Luxury Collection and the "W"; and National Golf Properties/American Golf Corporation, the largest owner/operator of golf courses and related facilities in the U.S. Starwood Capital Group no longer owns an equity stake in either iStar Financial or Starwood Hotels.

For further information, please contact:
Indukesh Babu
Media Relations Executive
JiWin Public Relations
Direct: +971 4 375 5244
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