Developers of the 20 million sq ft Dubai Pearl have announced their collaboration with Singapore Sotheby’s International Realty to encourage international funding for the $3.5billion luxury project. Pearl Dubai FZ LLC is to commence a road show across key Asian hubs and seek high net-worth investors through Sotheby’s International Realty network that spans 35 countries.
The building will house 9,000 penthouses and an active business center for 12,000 people. Through integrating first-class facilities, Dubai Pearl is set to become a 24-hour living city boasting a spectrum of commercial, retail, residential, hospitality and leisure components. It will feature six 5-star hotels namely a Bellagio, Baccarat and a MGM Grand among others.
The development will create a retail space to bring renowned luxury brands to the Middle East for the first time. Dubai Pearl will also house a 2,000-seater performing arts theatre to cater to the demands of Dubai’s growing cultural calendar and complement the project’s entertainment offering.
The Dubai Pearl development recently earned the LEED Gold pre-certification for its environmentally friendly techniques. Its state-of-the-art energy efficient systems in waste management and temperature control are designed to offer residents a lifestyle that minimises strain on the environment.
The development will offer easy access from arterial highways – Sheikh Zayed Road and Al Sufouh Road – and the elevated ring road.
Owned by a consortium of investors led by the Al Fahim Group, a multibillion dollar Abu Dhabi-based group, Dubai Pearl is set for completion in 2013.