First Qatar signs deal with RCI Global Vacation Network

The scope of the highly innovative agreement offers prospective buyers of First Qatar's apartments on the exclusive Pearl development the opportunity to gain instant returns through the fast emerging self-catering holiday market, once the complex is ready in 2008.

According to Nick Turner, Managing Director of Arabian Breaks and RCI Middle East, this is the first deal of its kind. He said "it's fitting that our initial launch into the Qatari market should be with First Qatar. The deal will offer their buyers unique added value in terms of prospective streams of rental income, thus making the purchase decision even more attractive to their customers."

Arabian Breaks will market the properties throughout their global network as well as their regional service centers in the Gulf.

The market for self catering holidays is widely established in the UK and many other European countries. Presently RCI manage in excess of 55,000 properties in this part of the world alone. In Qatar the opportunity now exists for prospective buyers of First Qatar's development to derive a lucrative income from their holiday home as well as enjoying the benefit of periodic use.

Pierre Moerland, Vice President, Sales and Marketing at First Qatar explained that this provides a real point of difference to their marketing activities. "We operate in a competitive market and being able to assure prospective investors that we have their long term interests in mind, is a major advantage. Many of our clients are from Europe and Asia and are looking to generate a return on their investment. Arabian Breaks is an ideal solution, offering both a regular income and access for the owner's personal use."

First Qatar's affiliation with RCI and Arabian Breaks is in line with the previously launched rental agreement scheme. "It's a reiteration of our ongoing commitment to grant our clients and stakeholders unrivalled real estate opportunities with the highest return on investment," added Moerland.

The twenty level "First Tower" development includes in excess of 200 units, ranging from studios to luxurious penthouse apartments. An eclectic blend of amenities will guarantee residents and holidaymakers the ultimate lifestyle and leisure experience. With views over the Pearl's "Porto Arabia", the development also provides an excellent holiday destination.

RCI confirmed that their latest research indicates that many visitors from Europe and the Middle East are keen to enjoy the benefits of self-catering accommodation in the Gulf in preference to the increasing cost of hotels. The research also proved that many Arab Nationals who travel with their families prefer the flexibility and privacy offered by developments such as the First Tower.

Arabian Breaks properties will be rated in a star system comparable to four and five star hotels. The brand was recently launched at this year's Arabian Travel Market in Dubai. They plan to build up a unique portfolio of apartments and villas throughout the region, especially targeting the UAE, Qatar and Oman.