Famed French chef to open patisserie in Dubai

The deal is part of the strategy of a new food and beverage division at Tatweer Investments.

The famed Parisian patisserie will soon open its doors in Dubai.

Lovers of macaroons rejoice. Tatweer Investments, a Government-controlled company owned by Dubai Holding, has reached an agreement with Pierre Hermé, the famed French patisserie, to begin opening locations in Dubai, said Ahmad Sharaf, chief executive of Tatweer Investments. "We are looking at offering quality food and beverage brands from fine dining down to the coffee shops," Mr Sharaf said. These latest deals are part of the strategy of a new food and beverage division at Tatweer Investments, which is looking to create joint ventures with major eateries and cafes around the world, as well as to create its own brands. The division earlier made a deal with Caprice Holdings, which owns such high-end brands as The Ivy, Le Caprice and Rivington. Mr Sharaf said that Tatweer Investments would open four restaurants this year from some of the brands, including a Rivington. He would not give more details until the deals are formally announced. The first Pierre Hermé shop was first opened by Mr Hermé in 1998 in Tokyo and subsequently in Paris. A line of people can seen winding into the street outside the main store in Paris waiting to pay as much as 24 euros (Dh120.8) for a box of brightly coloured macaroons with such flavors as mango and pistachio. Mr Hermé is a renowned pastry chef and was awarded the Chevalier de la Légion d'honneur, the highest decoration in France. He has been called the "Picasso of Pastries". Mr Sharaf said Tatweer Investments was focusing on serving the development of the emirate by forming partnerships and its own brands that can fill niches in the market. For instance, the company's property arm, Mizin, is focusing on the middle income and upper middle income sectors of the market. "That's where we feel is the lowest supply and highest demand," he said. The company launched Ghaya, a group of 700 villas and town homes that cater to customers interested in design and a lifestyle community at Cityscape this week. Already, Mizin has pre-sold more than half of the units. Speaking on a day when world financial markets again saw dizzying drops, Mr Sharaf said the UAE economy was becoming more mature and would slow down relative to the last few booming years. "This doesn't reflect on any lack of confidence in Dubai," he said. "It's just starting to get serious. There isn't as much room for the people here to make a quick fortune." Earlier this year Tatweer underwent a shake-up and split into two core groups, Tatweer Dubai and Tatweer Investments. Mr Sharaf said the decision was made to streamline operations and allow two chief executives to concentrate on the company's varied priorities. The two groups are overseeing the development of some of the biggest projects in Dubai, including the giant Dubailand project - which will be home to amusement parks, tourist attractions and themed developments - and Dubai Industrial City. [e-mail]