Dubai Pearl wins prestigious Newsweek Award for 'Best Integrated Development'

His Highness Sheikh Hasher Bin Maktoum Al Maktoum, Director-General of the Dubai Department of Information presented the award to Abdul Majeed Ismail Al Fahim, Chairman of Pearl Dubai, during a gala awards ceremony at the Grand Hyatt in Dubai that was attended by several dignitaries, government officials and private sector professionals.

Newsweek awarded the top 20 companies in the UAE for outstanding accomplishment in various categories, including real estate, aviation, education, banking, finance, hospitality, retail and media.

Dubai Pearl, under the stewardship of Abdul Majeed Al Fahim, won top honours in the best integrated development category for its all-encompassing components. The project, located within the TECOM Investments' free zone cluster, will be developed with a built up area of more than 15m square feet.

Abdul Majeed Al Fahim said:

"The Newsweek award bears strong testimony to the stature of the Dubai Pearl development, which will include state-of-the-art features for creating an all-inclusive community. We strongly believe Dubai Pearl will be a unique addition to the emirate's real estate landscape. In raising the industry's bar of excellence, the Dhs15bn project is a reflection of Dubai's vision for sustainability."

Dubai Pearl's new masterplan emphasises energy efficiency and the optimum use of space to deliver the region's first integrated walkable city centre. Expected to be completed by 2011, the project will feature an active business district with a quality urban lifestyle, offering easy access to premium commercial and residential areas such as Dubai Media City and Dubai Internet City, as well as the Palm Jumeirah.

The residential component of the project will include sky palaces with private pools and gardens, sky penthouses, luxury branded apartments and condominiums. It will also feature tower and boutique offices and renowned hospitality brands. While the Dhs1.5bn Baccarat Hotel will boast 342-rooms, the Dhs1bn Baccarat Residences will feature elegantly designed apartments over 300,000 sq. feet area.

Santhosh Joseph, President and CEO, Pearl Dubai, said: "As real estate innovators, we are keen to develop Dubai Pearl into an integrated, mixed use, sustainable development with all key components located within 400 meters of each other. Incorporating 'green' building standards, including recycling facilities for paper, glass, and food waste, the vitality conveyed by the development will foster a close knit community environment and offer premium retail and residential space in a prestigious location."

Capturing German engineering skills and superior technical standards, the project will be based on solid foundations of functionality and state-of-the-art technology. The project will provide residents and tenants with personalized entertainment services and seamless home-to-office connectivity.

Dubai Pearl will additionally boast a 2,000 seat high-tech theatre, a luxury fashion precinct within a premier shopping mall, as well as cinemas and multi cuisine food outlets.