United Arab Emirates: 23/07/2006

Nakheel Hotel & Resorts announces strategic partnership with Jumeirah Group

Nakheel, the UAE's leading property developer, has embarked on a strategic alliance with Jumeirah Group, the dynamic and fast growing Dubai-based luxury hospitality group, and member of Dubai Holding.

The landmark partnership will see Jumeirah have complete operating and management responsibilities for Trump International Hotel & Tower, The Palm Jumeirah; the Jumeirah Shoreline Hotel & Yacht Club and surrounding five beach clubs also located on the trunk of The Palm Jumeirah; and a soon to be announced hotel on The World.

Sultan Ahmed bin Sulayem, Executive Chairman Nakheel, said:

'We are delighted to embark on this ground-breaking alliance with what I consider to be one of the world's finest international hotel and hospitality companies. Jumeirah is a world class operation that is responsible for some of the most luxurious and innovative properties in the world. With their expertise and our unique developments at innovative locations such as The Palm Jumeirah and The World, we are presented with an excellent opportunity to create some of the world's most individual hospitality experiences - together we can redefine the meaning of luxury.'

Gerald Lawless, Chief Executive Officer Jumeirah Group, said: 'We are delighted to be entrusted by Nakheel with the management of such high profile and prestigious projects and we are proud to be a part of the history that Nakheel is creating with iconic developments such as The Palm Jumeirah. We look forward to providing future guests and visitors a truly unique, exciting and memorable experience.'

Trump International Hotel & Tower, The Palm Jumeirah is the initial development in Nakheel and The Trump Organization's joint-venture in the Middle East, which includes exclusive rights for 19 countries in the Middle East region and 17 major brands.

James Wilson, Chief Executive Officer, Nakheel Hotels & Resorts, said: 'Trump International Hotel & Tower is set to become one of the world's leading real estate developments; the realisation of a remarkable vision from two of the world's leading developers. Jumeirah is a name that is synonymous with outstanding service and with them on board as operators we are positive that this development will become a highly acclaimed destination set to raise the bar for developers, investors and visitors the world over.'

Jumeirah will also manage the new Jumeirah Shoreline Hotel & Yacht Club and five clubhouses located along the east shoreline of the trunk as one unified operation. The hotel will offer 200 keys and 200 residences located on Dubai's largest private beach at 2km long; facilities include beach club, spa, ballroom, retail and extensive underground parking. The clubhouses will offer a range of membership facilities to the Shoreline Apartment residents including convenience stores, restaurants, and gyms.

James Wilson added: 'The beach clubs will be managed as a unified operation of the Jumeirah Shoreline Hotel & Yacht Club to ensure a consolidated approach, which will create tremendous uplift and synergies to users. All of Jumeirah's existing beach clubs have an extensive waiting list in Dubai and are well regarded by members, so to have the market leader in beach club operations is a positive move for Nakheel and great news for the residents who will start moving into their apartments at the end of the year.'