Also named "The Palace" or "Old town". Don't let the names fool you. In Dubai is no City Center and no such thing as old town ;) The people delegating the money around in Dubai just decided last year that every city in the West seems to have an old part of town and they needed one too. So they distributed a couple of millions of Dollars into this project. Seems to work, it looks nice so far - not really old, but it's a nice try ;) (We got that information from one of the guys working in the Hotel)
The Sofitel sure as heck is worth the money you pay. It's a beautiful complex, with lots of flowers, green and fountains. I'm not a big fan of huge steel buildings. Even though it is still surrounded by construction Sites you barely hear anything of that. Our room was nice, big and quiet. Internet wireless and free of charge, connection quite alright.
The service at any part of the Hotel awesome. Attentive and friendly. The food is excellent and the value for your money is good. They have one Restaurant with all kinds of food, an Argentinian Restaurant and a bar - all three with an Air conditioned inside area and tables outside. The whole Hotel is Non-smoking inside, except for certain Hotel rooms. The main Restaurant has a Shisha service and the Pool has it's own Bar.
I would not want to stay anywhere else if I would go to Dubai again (and no, I don't have any stock in the company, even though I worked for Accor a few years :P )