George Clooney and Rande Gerber are
joining together with the preeminent real estate developers, Related Las Vegas
and Centra Properties, to create Las Ramblas—a world-class hotel,
condominium and casino complex that will be the largest residential project in
Las Vegas and continue to transform the city into a first-class urban
destination. Las Ramblas, a $3 billion project located on the burgeoning
Harmon Avenue corridor situated just off The Strip, will encompass more than
25 acres and feature 11 towers with a luxury hotel, luxury residences (both
condo and condo-hotel), bungalows, spa and health club, nightlife, dining,
shopping and a proposed upscale casino.  Evoking its name, Las Ramblas will
also feature the city’s first-ever, open air pedestrian promenade.

Ramblas is a collaboration among the world’s great developers,
architects, designers and entertainers.  The project is being developed by a
joint venture of Related Las Vegas and Centra Properties.  Related Las Vegas
is the Las Vegas development arm of the Related Group, the largest developer
of condominium projects in the Unites States.  In addition to transforming the
Miami skyline through an array of developments, Related is responsible for
such world-renowned, mixed-use urban developments as the Time Warner Center in
New York and CityPlace in West Palm Beach.  Related is also the developer and
owner of two of the most successful hotels in New York—the W Union Square
and the Mandarin Oriental New York Hotel—and is currently developing the
W Hotel condo-hotel project in South Beach.  Centra Properties is one of the
most active developers in Las Vegas with such trendsetting projects as the
1.9 million square foot Town Square mixed-use project.
  Construction on Las Ramblas commences in mid 2006.  When completed, Las
Ramblas will encompass more than 4,400 hotel, condo and condo-hotel units in
11 high-rise buildings comprising nearly 8 million square feet.  It will
include 300 hotel units, 2,764 condo units, 1,326 condo-hotel units and
19 bungalows.  Phase one will be designed by the renowned architecture and
interior design firm, Arquitectonica, and will include the first four towers,
to be completed in early 2008.  This includes the 300-room hotel with
370 additional condo-hotel units, a second adjacent tower of approximately
556 condo-hotel units, and two gateway residential condominium buildings at
the entrance of the project, containing 285 and 344 units respectively.
  Clooney and Gerber will each be extensively involved in multiple aspects
of Las Ramblas. In addition to being investors in the overall project, as well
as residence owners, they will contribute to the design and direction of
numerous aspects of the project, including the hotel, restaurants,
entertainment and the look and feel of the casino.  Gerber, through his
company After Midnight, will also develop restaurants, clubs and lounges for
the project.  Additionally, Clooney has committed to donate 25% of the profits
from his investment in Las Ramblas to the Make Poverty History campaign which,
in unison with people around the world, calls on world leaders to make poverty
history.
  “For the past several years, Rande and I have sought a project that evokes
the style, sophistication and glamour of Las Vegas and that provides a first-
class experience, including a five-star hotel, the finest restaurants, the
coolest bars and clubs and an exceptional spa,” said George Clooney.  “We’re
clearly putting more than just our names to this project—we’re investing
financially and creatively to develop an idyllic environment that reflects our
personal tastes and interests and where we can relax with our friends who also
love this town.  In fact, we are talking to our friend Brad Pitt about being
involved in the design, as well as other friends who are interested in being
part of our exciting project.”
  “Las Ramblas is a dream opportunity for George and me and we are both
personally investing a significant amount of money in the overall project to
make the dream a reality,” said Rande Gerber.  “We have also each committed to
buy residential units in the project.  We have discussed developing a project
in Las Vegas for the past two years and, after considering many opportunities,
are excited to build our vision with Related and Centra and contribute to the
ever-growing, dynamic city of Las Vegas.  With a complex of buildings situated
in an environment unlike any other built in Las Vegas, we are excited to add a
new dimension to the city’s sophistication and glamour.”
  Arquitectonica conceived the idea to create a pedestrian promenade in Las
Vegas, evoking the famous La Rambla boulevard in Barcelona, Spain.  Las
Ramblas will also involve some of the world’s other leading architects and
designers.  Additionally, a thrilling and unique blend of talent will develop
its restaurants, spas and retailing, adding their distinctive signatures to
the project.  Related and Centra are collaborating with Philippe Starck on the
interiors of the two gateway residential buildings and with Keith Hobbs of
United Designers Europe on the interiors of the hotel and condo-hotel towers.
Other internationally-recognized architects and designers will be engaged to
design the remaining buildings.
  “Las Ramblas will be one of the most exciting projects ever developed by
Related,” said Jorge Perez, Chairman and CEO of Related Las Vegas.  “We are
bringing together a dream list of architects, designers, entertainers and
purveyors of lifestyle to create an environment that combines sophistication,
class and glamour.  What makes the project special is that it fulfills the
visions of a very talented duo—George Clooney and Rande Gerber—who have
set their sights on a unique Las Vegas project.”
  The open air pedestrian boulevard, modeled after the project’s namesake in
Spain, will feature broad paths for strolling, as well as areas for outdoor
eating and lounging.  Extensive landscaping and a lively offering of
retailers, restaurants, bars and lounges will entice visitors and residents.
  Other highlights of the project include restaurants, clubs and lounges
from Rande Gerber’s After Midnight Company, several additional renowned
restaurants, private bungalows with pools, a large main pool area with private
cabanas, a 30,000 square-foot spa, and a proposed casino that will offer
visitors an intimate and exclusive gambling experience.
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