May 19, 2019- Accor partnership company has entered into another partnership with a real estate developer World of Wonders Real Estate, and in the process they have signed a long-term hotel management agreement and a residential branding agreement to manager there US$500m 75-storey tower in Dubai – so a new market for SBE – and with a new product. The SLS Dubai Hotel & Residences, which is set to open in Q3 2020.
The project will be one of the tallest hotels and residences in the region.
In 2018, SBE entered into a partnership with Accor, following the latter's acquisition of a 50% stake in SBE.SLS Dubai also feeds into the growth of SBE's residential platform with 1,300 branded residential units sold to-date, valued at $2bn, with another $2bn more in the pipeline.
SBE subsidiary Dakota Development, led by president Joe Faust, provided initial concept development and design management services for the project in collaboration with international architecture firm Aedas and interior design firm Bishop Design.
SLS Dubai continues SBE's development in the Middle East after openings of Katsuya restaurants in Kuwait City, Dubai and Abu Dhabi, and a Cleo in Kuwait City. SBE also is working on the 2019 opening of Delano Dubai Hotel & Residences on Palm Jumeirah, as well as the Mondrian in Dubai. Nazarian teased further projects for SBE in the region, As they see Dubai being one of its major global markets for expansion.