Ras Al Khaimah, 17^th October 2007: RAK PropertiesRAK Properties, the premier real estate developer in Ras Al Khaimah, announced today the signing of an agreement with Millennium Hotels and ResortsMillennium Hotels and Resorts on managing the Millennium Mina Al Arab Resort in the multi-billion Mina Al Arab development.

Mohamed Sultan Al Qadi, Managing Director of RAK PropertiesRAK Properties said, "The Millennium is one of the most recognized hospitality brands in the world. By combining Millennium's top quality hospitality with Mina Al Arab's emphasis on nature and heritage, we will provide a refreshing and exciting experience at the Millennium Mina Al Arab. "

Millennium manages nine hotels in the UAE. The international hospitality brand has 120 hotels worldwide, with 22 of its properties either operational or under construction in the Middle East.

Ali Hamad Lakhraim, CEO of Millennium Hotels & Resorts added that Mina Al Arab will provide further boost to the brand's expansion drive in the region and lend more variety to its portfolio.

"Millennium Mina Al Arab is integral to our development strategy in the region as we aim to almost double our current Middle East portfolio to 35 hotels by 2011.

"With its unique natural setting and waterfront properties, Mina Al Arab is set to be one of the leading tourist destinations not only in the UAE but also in the region," said Mr Lakhraim.

Launched in May 2006, Mina Al Arab is an AED10 billion waterfront community spread over 30 million sq. feet. The development will have a variety of amenities ranging from hotels, residential buildings, a theme park, marinas, shopping arcades, restaurants and cafés.

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RAK PropertiesRAK Properties, a Public Joint Stock Company listed on the Abu Dhabi Securities Market, is a real estate development company that operates in a sector that is enjoying an economic boom. It is established to implement the emirate's plans to promote real estate, tourism and leisure facilities in RAK and invest in interesting projects. It is intended that its activities will encourage economic growth in the UAE in general and Ras Al Khaimah in particular. The company launched its first project, Julfar Towers - a 43-storied twin office and residential project at a cost of AED 500 million - in February 2006 followed by Mina Al Arab - spread over 30 million sq. feet at a cost of AED 10 Billion - in May 2006.

About Millennium Hotels & Resorts
Millennium Hotels & Resorts has 120 hotels worldwide, with 22 of its properties either operational or under construction in the Middle East. Millennium Hotels and ResortsMillennium Hotels and Resorts represents a worldwide community of hotels that provide consistent standards of excellence for business and leisure travellers alike. The brand represents a wide variety of hotel styles with high standards of service & facilities in every property. Maritime, the leading hospitality brand that owns 45 hotels (12557 rooms) in 8 countries is an international partner for Millennium Hotels & Resorts.

For further information, please contact:
Nizar Saab
ASDA'A Public Relations
Exclusive Affiliate of Edelman PR Worldwide in
Middle East and North Africa
Dubai, UAE
Tel: +971-4-3344550,
Fax: +971-4-3344556
E-Mail: n.saab@asdaa.com

© Press Release 2007 from ASDA'A Public Relations

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