Aldar Hotels & Hospitality, Ritz-Carlton Hotels announce partnership

Abu Dhabi, Nov 13, 2008 (WAM) - Aldar Properties yesterday announced the signing of an exclusive development agreement with The Ritz-Carlton Hotels Company which will result in the development of a number of luxury hotels in Abu Dhabi to be managed by The Ritz-Carlton. The parties also announced the signing of the second hotel management agreement under the exclusive arrangement which relates to The Ritz-Carlton Abu Dhabi, Al Dana to be developed at the exclusive Al Dana precinct on Aldar's spectacular Al Raha Beach development.

The agreements were signed at a ceremony held in London at the World Travel Market by Paul Bell, Managing Director of Aldar Hotels and Hospitality and Simon Cooper, President and Chief Operating Officer of The Ritz-Carlton Hotel Company.

The Ritz-Carlton Abu Dhabi, Al Dana will offer circa 234 exceptional bedrooms, superb dining and meeting facilities along with leisure and entertainment facilities that will set new benchmarks both for Abu Dhabi and the UAE. The hotel will be located in the heart of the Al Raha Beach development and will provide unrivalled services to both visitors and residents alike and is due to start development in 2010. This is the second contract signed between Aldar Hotels and Hospitality and The Ritz-Carlton Hotel Company, the first being the iconic Ritz Carlton Reserve hotel on Aldar's Nareel Island development which is currently under construction