Indian carpet made of pearls and gems today fetched a record $5.5 million at the first series of auctions held by Sotheby’s in the Gulf state of Qatar.

The 5-foot-8-inch by 8-foot-8-inch Pearl Carpet of Baroda had been commissioned in 1865 by the Maharajah of the former Indian state of Baroda, possibly as a gift for the tomb of the prophet Mohammed at Medina, said Sotheby’s.

The carpet, with more than 1 million natural Basra seed pearls, had never been offered before at auction and was expected to fetch at least $5 million, said Sotheby’s.

The mayor of Paris is blocking the Emir of Qatar’s plans for a multimillion-dollar renovation of the Hotel Lambert, an historic 17th century mansion in the Quai d’Anjou on the city’s Île Saint-Louis.

Bertrand Delanoe says that the alterations to the 17th century mansion on the exclusive Saint Louis island in the heart of Paris including an underground carpark, the addition of elevators and new rooms, will spoil the important heritage of the building.

He wants the owner to re-consider and look at more friendly way to renovate the three-storey Hotel which was built in 1639 by Louis Le Vau and is part of a Unesco World Heritage site.

Dropping $111 million on a Paris pied-à-terre may seem excessive to some, but not to Sheikh Hamad bin Khalifa al-Thani. The Emir of Qatar has recently purchased one of France’s most mythic private homes, the Hôtel Lambert.

Designed by Louis Le Vau in 1640, the property, which sits at the tip of the Ile Saint-Louis, had been the Paris residence of Baron Guy de Rothschild and his late second wife, society queen Marie-Hélène, since 1975, reports W Magazine.

Emir plans a huge overhaul of the building

W Hotels, the fastest growing luxury hotel brand in the world, is set to open the region’s first W hotel in Doha in March 2009.

Designed by UK-based firm United Designers The W Doha is owned by J&A Jaidah, principals of J&A Jaidah Holdings, one of the most well known and well respected private companies in the Middle East.

The luxury hotel is located in the West Bay area of Doha, and features 291 guest rooms and suites, 154 residences, several restaurants including La Maison du Caviar and Spice Market, a poolside shisha lounge, champagne bar, 1,000sqm of meeting and events space, and luxury retail outlets.