BEIRUT (Zawya Dow Jones)--U.A.E.'s Aldar Properties will develop four hotels in Abu Dhabi that will be operated by Rotana Hotel Management Corp.
The two firms also plan to develop a range of new properties in Abu Dhabi "spanning the hospitality segments from luxury hotels to serviced apartments," the companies said in a statement on the Abu Dhabi bourse website Wednesday.
It didn't give a value of the deal.
"The collaboration will see Rotana branded hotels developed on a number of Aldar's prominent developments," it said.
-By Shikrallah Nakhoul, Zawya Dow Jones, +961 1 985757, shikrallah@zawya.com
Copyright (c) 2007 ABQ Zawya Ltd.
(END) Dow Jones Newswires
November 07, 2007 02:17 ET (07:17 GMT)
