Press Release

ALDAR Properties and Rotana Hotels Join Forces - Leading Abu Dhabi companies will bring four hotels to the UAE capital

ALDAR Properties PJSC, Abu Dhabi’s largest integrated real estate company, today signed agreements to develop four hotels which will be managed by Rotana, the leading hotel management company in the Middle East, in a landmark collaboration between two of Abu Dhabi’s leading organizations.

At a press conference in Abu Dhabi, Ahmed Al Sayegh, Chairman of ALDAR Properties and Nasser Al Nowais, Chairman of Rotana announced plans for the development of a range of new properties for visitors to Abu Dhabi; spanning the hospitality segments from luxury hotels to serviced apartments.

“The development of the hospitality sector is an important factor as the Abu Dhabi economy continues its strong growth,” commented Ahmed Ali Al Sayegh, Chairman, ALDAR Properties. “We are proud to be partnering with Rotana, like us an Abu Dhabi brand with global vision, to drive this economic development and provide world class facilities for business and leisure tourists alike.”

The collaboration will see Rotana branded hotels developed on a number of ALDAR’s prominent developments in Abu Dhabi and delivers ALDAR Hotels & Hospitality’s strategy of teaming global and regional hospitality brands with exceptional locations. The proposed hotels are a 300-room Rotana Hotel on Yas Island, with an expected opening date of 2009; a 250-room Centro by Rotana with an expected opening date of 2009; a 250-room 5 star Rotana Hotel in Al Seef precinct of the Al Raha Beach development, with an expected opening date of 2012; and a 165-unit serviced apartment property in Abu Dhabi.

“Year after year, Rotana is gaining strength and positioning itself as a leader in the industry within the region. This is part of our strategic aim to have a property located in every key city in the Middle East and this goal is being steadily achieved through careful long-term planning and timely action. The essence of Rotana is the diversity in the products and genuine Arabic hospitality and for us to partner with ALDAR makes this statement stronger” said Nasser Al Nowais, Chairman of Rotana.

“ALDAR Hotels & Hospitality’s strategy is to partner the leading global and regional brands with the superb locations offered by ALDAR’s large portfolio of planned hotels. Rotana as an important regional operator with its headquarters in Abu Dhabi offers excellent brand awareness and unrivalled delivery and operational depth in the market. We are delighted to be working together with Rotana and the relationship builds upon other strategic alliances announced recently with international hotel operators and brands,” commented Paul Bell, Managing Director of ALDAR Hotels & Hospitality.

Selim El Zyr, President  & CEO of Rotana said: “These agreements with ALDAR are a great opportunity for us to deepen our well-established base in the Emirate and to partner with a leading Abu Dhabi based developer. The new Rotana properties will compliment our existing operations and will give us a representation on some of the most exciting developments in the region. Rotana currently operates 25 properties throughout the Middle East with a further 31 properties under development. Today’s announcement is a significant step toward fulfilling our aggressive growth strategy for the region and will increase our portfolio reaching 60 properties by 2012. We aim to work with internationally renowned groups and this tie-up with ALDAR represents a great achievement not just for the two companies but for Abu Dhabi as well.”

ALDAR Hotels and Hospitality is poised to play a major role in the development of Abu Dhabi’s hotel and hospitality sector. It identifies related opportunities both within ALDAR developments and elsewhere and determines the best fit brands, partners and business models