NRI Real Estate and Property Investment in India
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Five-star Taj resort in Abu Dhabi
Tuesday, May 06, 2008

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.


 

 

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