Paaeez doesn't have too much going for it.
I've been there 4 times for different events and each time has been more or less mediocre.
The shisha/hookah is expensive compared to other hookah lounges out there. The drinks are also pricey, but not incredibly unreasonable.
Service was good and the atmosphere was relaxing but they are both overshadowed by the prices.
I would visit Cafe Awtash before Paaeez.