Aqua Dunya Vacation Club plugs into Interval International's global exchange network

Situated in Dubailand, construction of the first phase of 170 apartments is scheduled for early 2008 with completion in early 2010. Owners of timeshare at the Aqua Dunya Vacation Club resort will be able to exchange with thousands of Interval International's members throughout the world.

Steve Tight, Chief Executive Officer of Aqua Dunya, commented, "The integration of a vacation ownership component into the Aqua Dunya Resort and within Dubailand's portfolio of entertainment offerings provides a flexible alternative for guest accommodation in Dubai. Indeed we can now offer added value to our vacation club members with a wide range of quality international exchange properties through Interval's extensive global exchange network."

"Dubai is the regional hub for tourism with hundreds of tourism-related projects under construction or on the drawing board," said David Clifton, Interval's Managing Director, Europe, Middle East, Africa and Asia. "The Aqua Dunya theme park resort is a highly innovative and compelling leisure development. We are delighted to have a resort of this quality and magnitude affiliated with Interval. It will benefit our members and provide a huge step forward for the vacation ownership industry throughout the Middle East."

The current demand for timeshare products in the Middle East is extremely robust, with potential timeshare sales estimated by industry experts at US$ 550 million annually and growing. The Aqua Dunya Vacation Club is the first vacation ownership resort announced in Dubailand and will comprise 110 one-bedroom, 400 two-bedroom, 200 three-bedroom, and 45 four-bedroom units, making it the largest single vacation ownership resort in the Middle East, Europe, Asia and Africa. The Aqua Dunya Vacation Club will be a points-based system that will offer the ultimate in flexibility to its members.

The vacation club will be one of the key elements of the Aqua Dunya Resort, a family destination resort that will also include two theme parks built around a 3.5 hectare lagoon; three themed hotels; a convention centre; a waterfront retail and dining district; a nine-hole golf course, and a residential community.