Sheikh Tariq bin Faisal Al Qassimi launches the exclusive Ritz-Carlton Residences Singapore, attended by His Royal Highness Prince Mishal bin Abdul Aziz Al Saud

Dubai - March 9, 2008: Sheikh Tariq bin Faisal Al Qassimi, Chairman of Emirates Investments' Group, gave his patronage to the launch of an invitation-only road show promoting the Ritz-Carlton Residences, Singapore in Dubai this week, accompanied by His Royal Highness Prince Mishal bin Abdul Aziz Al Saud, Chairman of Al Shoula Holding Group, and His Royal Highness Prince Abdul Aziz bin Mishal bin Abdul Aziz Al Saud, the Group's Chief Executive Officer.

Under development by Hayden Properties, a joint venture between KOP Capital and Emirates Tarian Capital, a unit of Emirates Investments Group, the luxurious 36-storey, 58 unit Ritz-Carlton Residences will be built in the exclusive Cairnhill neighbourhood in Singapore, and will be managed by the Ritz-Carlton Hotel Company L.L.C.

Sheikh Tariq Al Qassimi said that Singapore's investment environment was increasingly attractive to GCC investors, providing a means for diversifying real estate investment portfolios beyond traditional frontiers for individual and institutional investors. "The Ritz-Carlton Residences have been confirmed as one of the most exclusive residential developments in Singapore today, and the Ritz-Carlton Hotel Company now sees this unique project as the finest one to bear the Ritz-Carlton name to date," he stated.

Kunalan Sivapuniam, Managing Director and partner at Emirates Tarian Capital, said at the press conference, "The Ritz-Carlton Residences in Singapore will bring unprecedented levels of comfort and luxury for those who need to hand over the little details to someone else. Living at The Ritz-Carlton Residences will mean having the convenience of valet parking, a round-the-clock concierge helping with errands, housekeeping, and butler service, all at the most fashionable address in town."

In addition, Mr. Kunalan said that these amenities would come in apartments of generous sizes, beginning at around 2,800 sq ft for 3-bedroom units, and going up to nearly 3,500 sq ft for 4-bedroom condominiums. The Ritz-Carlton Residences, Singapore, Cairhnill will also feature two penthouses at approximately 6,500 sq ft in the first fully strata-titled branded luxury residence of its kind in Asia. Construction on the project is now underway and slated for completion in 2010, and is currently one of Singapore's most coveted properties.

Ong Chih Ching, co-founder and Managing Director of Singapore's Hayden Properties, said, "We at Hayden Properties are very excited to be in Dubai, and we recognize that there are many high net-worth individuals in the region who appreciate an exceptional level of service in their homes, which we aim to provide through our partnership with The Ritz-Carlton Hotel Company L.L.C. Living in The Ritz-Carlton Residences will be like living in your favourite hotel and calling it home."

Ms. Ong also noted that The Ritz-Carlton Residences, Singapore, reflects a growing worldwide trend for co-branding in residential developments. "Dubai and Singapore have a lot in common in terms of the increasing quality of luxury residences. With this class of development, price reflects a certain quality of lifestyle. Customers want to get what they pay for, as they usually own multiple homes for long periods of time, and are therefore very selective about what they buy," she added.

Long known as an economic hub of the Far East, Singapore has proven to be fertile ground for a vigorous property market, with record levels of investment activity in the past two years. Economists and market watchers anticipate strong demand levels through 2008 and 2009, with many expecting expansion all the way through 2010.

-Ends-

About Hayden Properties
Hayden Properties Private Ltd ("Hayden Properties") is a joint venture that was set up in October 2006 between KOP Capital Private Limited ("KOP Capital") and Emirates Tarian Capital Private Limited. Hayden Properties' core businesses include real estate development and real estate management services. Hayden Properties' high-end boutique residential developments currently include The Ritz-Carlton Residences, Singapore, Cairnhill and The Hamilton Scotts (formerly Asia Hotel). 

For further information, please contact:
Wajih Halawa
Account Manager
SAHARA PR
Tel: +971-4-329 8996
Fax: +971-4-329 8995
Mobile: +971-50-240 3357
E-mail: wajih@saharagcc.com

© Press Release 2008