Five-star Taj resort in Abu Dhabi

UAE’s leading property developer Aldar has signed an exclusive agreement
with Indian hotel giant the Taj group to develop a five-star, 500-room
luxury resort hotel on Abu Dhabi’s Yas Island.

The hotel will be branded as Taj Palace Hotel on the lines of the elegant,
original palaces hotels of the Taj and will have facilities and services
to match the exceptional location.

The agreement was signed by Paul Bell, managing director, Aldar Hotels
and Hospitality, and Raymond N Bickson, managing director and CEO of
The Indian Hotels Company Limited, which owns and operates 79 Taj Hotels
Resorts and Palaces worldwide.

The signing took place on the opening day of the Arabian Hotel Investment
Conference in Dubai yesterday, which included a Summit on India highlighting
prime Indian investment deals and projects being undertaken in the subcontinent.

"Aligning with leading internationally recognized hospitality
brands is part of Aldar’s strategy to bring high quality investment
opportunities to our developments. This agreement signifies Aldar’s
commitment to bring world-class players to our market, and to Abu Dhabi,"
said Ronald Stephen Barrott, CEO of Aldar Properties.

Bickson said the UAE is part of a strategic group of countries in the
Gulf region where the leisure and hospitality sector is growing exponentially.