UAE: Funding agency Shamal Holding will develop the Baccarat Resort & Residences in downtown Dubai, set to open in 2026.
Baccarat Resort & Residences will kind a part of a mixed-use improvement going through the Burj Khalifa and can mark the primary location within the UAE for the model.
The property’s twin towers, overseen by architectural agency Studio Libeskind, will supply 144 rooms and 49 branded residences designed by studio 1508, together with 4 meals and beverage retailers.
SH Accommodations & Resorts, the lodge model administration firm below Starwood Capital Group, will function the the lodge. The mission can be managed by the group’s newly established regional workforce in London, below the management of Robert Koren who has just lately been appointed as SVP and space managing director for EMEA.
Barry Sternlicht, chairman of SH Accommodations & Resorts, mentioned: “We’re thrilled to be companions within the improvement of this extraordinary lodge and residences in one of many prime journey locations on this planet. The Baccarat model celebrates the standard of sunshine and the place is the solar extra spectacular than within the Center East. Our artisans will work to create a spectacular property to take its place among the many most revered on this planet. We’re excited for this mission’s gleaming future.”
Abdulla Binhabtoor, chief portfolio administration officer at Shamal Holding, mentioned: “Greatest recognized for its regal class, the Baccarat model has one of many richest model equities within the luxurious hospitality sector, which aligns carefully with Shamal’s long-term funding technique to deliver extraordinary experiences to the area.
“Dubai is understood for its luxurious lodge portfolio, and we’re assured that this mixed-use improvement can be a brand new spotlight for each residents and guests. We’re working carefully with a variety of remarkable companions as we curate this distinctive improvement and we look ahead to contributing to Dubai’s hospitality providing and wider progress ambitions.”
Shamal Holding will collaborate with H&H Improvement, an actual property investor, developer, and asset supervisor primarily based in Dubai. Miltos Bossinis, CEO at H&H Improvement, mentioned: “The Baccarat model presents a useful alternative to create a very bespoke and distinctive improvement that unites the heritage of Baccarat with the up to date spirit, power and dynamism of Dubai. We look ahead to working with Shamal Holding and all of our companions on what’s going to undoubtedly be an industry-defining mission.”