RAK Properties signs management agreement with Millennium

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Notes and media contacts

About RAK Properties
RAK Properties, a Public Joint Stock Company listed on the Abu Dhabi Securities Market, is a real estate development company that operates in a sector that is enjoying an economic boom. It is established to implement the emirate's plans to promote real estate, tourism and leisure facilities in RAK and invest in interesting projects. It is intended that its activities will encourage economic growth in the UAE in general and Ras Al Khaimah in particular. The company launched its first project, Julfar Towers - a 43-storied twin office and residential project at a cost of AED 500 million - in February 2006 followed by Mina Al Arab - spread over 30 million sq. feet at a cost of AED 10 Billion - in May 2006.

About Millennium Hotels & Resorts

Millennium Hotels & Resorts has 120 hotels worldwide, with 22 of its properties either operational or under construction in the Middle East. Millennium Hotels and Resorts represents a worldwide community of hotels that provide consistent standards of excellence for business and leisure travellers alike. The brand represents a wide variety of hotel styles with high standards of service & facilities in every property. Maritime, the leading hospitality brand that owns 45 hotels (12557 rooms) in 8 countries is an international partner for Millennium Hotels & Resorts.

For further information, please contact:
Nizar Saab
ASDA'A Public Relations
Exclusive Affiliate of Edelman PR Worldwide in
Middle East and North Africa
Dubai, UAE
Tel: +971-4-3344550,
Fax: +971-4-3344556