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The Princess Resort is a unique concept designed to embrace the glitz and glamour of a Las Vegas style experience, with entertainment, palaces, lagoons, equestrian trails and even snow capped towers. Developed with the guidance of HH Sheikh Humaid Bin Rashid Al Nuaimi, Ruler of Ajman, the resort comprises nearly 1,600 one to three bedroom apartments along with 100 exclusive villas and chalets, 2 luxury five star hotels with 488 rooms. The development is set for completion by 2010 with an estimated cost of $1.25bn.
One of the main features of the agreement between Group RCI and PKN is the potential for prospective purchasers to generate rental income from short term holiday rentals by marketing their property to a wide audience. Owners will also have access to 4,000 resorts worldwide that are affiliated with the RCI vacation exchange network.
In addition to the regular rental and exchange opportunity, some of the high-end residential units will be included on in The Registry Collection, the world's largest luxury exchange program. This provides the added benefit of exchanging exclusive holiday accommodation with over 120 luxurious destinations around the world, 24 hour.
The agreement means that Group RCI will manage over 500 residential units within the PKN holiday exchange program. These will be added to the company's global distribution network which includes exclusive access for specified periods to over 60,000 vacation properties in more than 100 countries.
Commenting on behalf of RCI Middle East, Nick Turner, Managing Director, said,
"The PKN Princess Resort is an excellent example of how Group RCI can add value to a developer's project. We possess a wealth of relevant experience, have a great regional network of customer service centers and offer owners at the PKN Princess Resort the opportunity of distribution throughout the world. We are delighted to be working with PKN on this project and believe we can provide excellent benefits for all purchasers."
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Posted by Anne-Birte Stensgaard, Senior News Editor
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