|May 21, 2008
Zabeel Properties to develop food and entertainment venue, Tiara Village, on Palm Jumeirah
- Hakkasan confirmed among food and drink outlets and signature nightclub to be operated by the Las Vegas-based Light Group
Dubai, UAE, 21.05.08: Zabeel Properties today announced the launch of Tiara Village; an exclusive development on the east flank of the Palm Jumeirah in Dubai that will involve some of the best names in the world of food and entertainment.
The development is sure to become a firm favourite for lovers of gourmet cuisine and nightlife alike. It will incorporate a range of eight food and beverage outlets to suit different tastes, including the Michelin-rated Chinese restaurant, Hakkasan.
Sitting alongside them will be a stunning new nightclub to be operated by the world-famous hospitality company, the Light Group. Called The Bank, it will based upon its own signature facility at the Bellagio resort in Las Vegas, which is considered the preeminent nightclub on 'The Vegas Strip'.
The Tiara Village, which will open in the Summer of 2009, is to be situated alongside the luxury property developer's AED2.1 billion (US$1 billion) Tiara Palm Hotel and Residences project. It comprises a 309-suite hotel stretching across two 15-storey towers and an adjoining 644-unit residential complex. Set for completion at the end of October, The Tiara Palm Hotel and Residences is poised to become one of the premier properties on the Palm Jumeirah.
Robert Norton, CEO of Zabeel Properties, says: "Tiara Village is an exciting new entertainment hub that will significantly enhance the Tiara Palm development. It will give residents and guests access to a range of the highest quality restaurants, stylish bars and nightlife. We are delighted to be working with partners who are world leaders in their fields, including the Light Group and the Australian architects, Crone & Partners.
"The Tiara Village will be LEED (Leadership in Energy and Environmental Design) accredited, embodying our commitment to deliver industry-leading environmentally sustainable developments. We have built a growing reputation as a responsible developer that will not compromise on quality or attention to detail, and exceed customer expectations - which the Tiara Village will exemplify."
Zabeel Properties is the property arm of Zabeel Investments - a multi-diverse company with business interests spanning private equity and asset management in the GCC and other international markets.
Zabeel Investments recently acquired a 50 per cent stake in the Light Group. The partnership unites the experience and innovation of the Las Vegas company with the ambition and expertise of Dubai-based Zabeel Investments, delivering a distinct offering to both the US and UAE hospitality and entertainment sectors as well as markets further afield.
Zabeel Properties' portfolio of development work also includes:
- Porto Dubai, a luxury residential development on a reclaimed peninsular featuring a pioneering 'tiered island' design concept. Located in Umm Suqeim, each of the homes and exclusive beach club will enjoy unspoilt views of the iconic seven-star Burj Al Arab hotel thanks to the island's innovative four-tiered design layout that is set for completion in 2010.
- The Tiara United Towers, a joint venture with United Holdings to deliver a landmark commercial and hospitality project on Dubai's main Sheikh Zayed Road. The AED2.4 billion developments' visually striking twin towers will represent a design first for the region.
- In a joint venture agreement with ALDAR, the leading Abu Dhabi-based property developer, an AED3.5 billion project combining a links golf course and luxurious villas on YAS Island, situated off the coast of the capital of the UAE
- A soon-to-be-launched 800-room 'Americas Hotel & Resort' on Dubai's Bawadi development. The project promises to become one of the world's most exciting entertainment and leisure destinations adding a distinctive new dimension to Dubai and providing more space to cater for the city's increasing population
- The Ottoman Palace, a new $350 million resort on the crescent of Palm Jumeirah, to be operated by Rixos Hotels Group. The five-star hotel and villa project, which opens in November 2008, will boast 410 rooms and a further 38 villas - each with its own individual swimming pool and garden. This seven storey development will celebrate a multi-ethnic and multi-religious Turkish dynasty that existed for six centuries and has been designed by renowned Turkish architect Kursat Aybak.
Note to editors:
Founded in February 2006, Zabeel Investments is a Dubai-based diversified investment company with business interests spanning commercial real estate development and management, private equity and asset management across a wide range of economic sectors in the GCC and other international markets.
Zabeel Properties' property portfolio currently comprises of approximately AED15 billion (US$5 billion) of prestigious residential, commercial and hospitality developments.
LEED is certified by the U.S. Green Building Council and provides a suite of standards for environmentally sustainable construction. Different LEED versions have varied scoring systems based on a set of required 'prerequisites' and a variety of 'credits' in the six major categories listed above. In LEED v2.2 for new construction and major renovations for commercial buildings, there are 69 possible points and buildings can qualify for four levels of certification:
- Certified - 26-32 points
- Silver - 33-38 points
- Gold - 39-51 points
- Platinum - 52-69 points
For media enquiries, contact Rachel Jones, Elizabeth Humphreys or David Wilson,
at Bell Pottinger Business & Brand
in London on +44 207 861 2424
Public Relations Manager - Zabeel Properties
in Dubai on +971 4 365 7931