• HSBC

Saraya announces its new headquarters in Amman

Saraya, a real estate development and asset management company that invests in the travel and tourism in the world, announced today the development of its Headquarters in the Abdali New downtown in Amman-Jordan.

Saraya has acquired a 3,592 m2 land parcel in Abdali, where it will build its Saraya Headquarters, in addition to a five star luxury business hotel and hotel apartments; as well as a limited number of serviced residences, and underground parking with a total cost of approximately JD 80 million. The Saraya site works have started in July 2007 and the project is expected to be completed by early 2011.

Mr. Ali Kolaghassi, Vice Chairman and CEO of Saraya Holdings, stated "The Saraya Headquarters is a manifestation of the great progress and success that Saraya has been witnessing since its inception in 2005. The new Headquarters will provide a unique working environment for our employees and a lavish experience for our customers and partners that has not been witnessed in Amman before. We take pride in our accomplishments and we will continue to provide the best for all of our employees, customers and shareholders alike."

The new Saraya Headquarters will be an icon of Saraya's achievements and its ongoing growth in the field of real estate development, asset management and travel and tourism.

Saraya has redefined travel and tourism, through turning untapped locations into luxurious world-class destinations and is continuously introducing lavish and customized services that complement these destinations to make the Saraya experience complete. Its journey started in the Saraya Aqaba project on the Red Sea city Aqaba, in Jordan, with four further projects; Saraya Islands in Ras Al-Khaimah-the United Arab Emirates, Saraya Bandar Jisssah near Muscat-Oman, Saraya Dead Sea in the Dead Sea in Jordan and Saraya Aktau on the Caspian Sea in Kazakhstan.

As part of Saraya's growth strategy, Saraya has introduced two services thus far;"Saraya Aviation"; an elite air carrier which will commence its operations in 2008 providing jet charter flights; granting short and long distance trips to and from any Saraya destination and anywhere else in the world. "Saraya Realty"; is the exclusive property selling, leasing and re-sales arm for all Saraya's luxurious destinations.
 
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About Saraya
Saraya, established in 2005, is a Real Estate Development and Asset Management Company investing in the travel and tourism industry. Saraya's vision is manifested in turning undiscovered natural, rich and unique locations into luxurious destinations. Saraya seeks to support the economic growth of the countries it invests in by developing projects that maximize shareholders' value and contribute to local communities' sustainable development. Through its investment subsidiaries, Saraya has invested in Saraya Aqaba project, currently being developed in the Red Sea city of Aqaba, Jordan. While other projects - Saraya Islands in Ras Al Khaimah, United Arab Emirates; Saraya Dead Sea in the Dead Sea, Jordan; Saraya Bandar Jissah near Muscat in Oman; and Saraya Aktau on the Caspian Sea in Kazakhstan - are at various stages of development. Through strategic partnerships with public and private sectors, Saraya provides all facilities and services that a modern touristic city offers; including premium hotels, retail, entertainment, leisure and sport facilities, superb residential units while preserving the natural environment and local cultures. Saraya has introduced a bouquet of customized services to complement its world class destinations; granting all customers an unmatched and holistic experience. Saraya announced its first service, "Saraya Aviation", a Private Jet Charter Operation which is designed at servicing individuals as well as large corporations, banks and government officials in addition to visitors, tourists and businessmen. Saraya Aviation's fleet will grant short and long distance trips, taking off and landing from any destination in the world, and will commence operations in June 2008. In September 2007, Saraya announced its second elite service for its customers, "Saraya Realty", a fully owned subsidiary of Saraya. "Saraya Realty" will be the exclusive property selling, leasing and re-sales arm for all Saraya's luxurious destinations mainly targeting both end users and second-home owners through a variety of product packages tailored to meet their utmost satisfaction, hence offering customers and investors multiple options for investing their money in the most convenient manner while adding value to their investments. For more information on Saraya Holdings please visit www.sarayaholdings.com.

For more information:
Dimah Khalili - Media Communication and PR Manager, Saraya
Tel: +962 6 5505444
Fax: +962 6 5561738
www.sarayaholdings.com

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