Nakheel and Jafza sign deal on new budget hotel offering

Notes and media contacts

About Nakheel:

Nakheel is one of the world's largest privately held real estate developers, and a key player in realising the vision of Dubai for the 21st century: creating a world class destination for living, business and tourism.

Nakheel is developing an iconic portfolio of innovative landmark projects in Dubai, and now in key markets around the globe, across a range of sectors - residential, commercial, hotels, retail, and leisure. Nakheel's projects are conservatively estimated to be worth US$80 billion. Upon completion Nakheel's waterfront projects will have added more than 1000km of shoreline to Dubai's coastline.

Nakheel's Dubai portfolio currently includes The Palm Jumeirah, The Palm Jebel Ali, The Palm Deira, The World, Waterfront, The Universe, Jumeirah Islands, Jumeirah Village, Jumeirah Park, Jumeirah Heights, The Gardens, Discovery Gardens, Ibn Battuta Mall, Al Furjan, International City, and Dragon Mart.

Nakheel is a key entity within Dubai World. Dubai World is one of the world's largest holding companies and supervises a portfolio of businesses and projects for the Dubai government across five continents and more than 100 countries.

About Nakheel Hotels

Nakheel Hotels is an integrated hotel development, investment and asset management business with investments under management currently in excess of $3bn.

Nakheel Hotels goal is to deliver exceptional returns through the acquisition and active management of luxury hotels in key gateway cities and resorts around the world, together with strategic equity investments and investment in branded budget hotels in key growth markets. Building and leveraging relationships with key strategic partners is central to the company's investment strategy.

Investments include the Mandarin Oriental and W Union Square hotels in New York, Hotel Washington in Washington DC, the One & Only Resort in Los Cabos, Mexico and significant equity stakes in Kerzner, operator of the Atlantis and One&Only brands, and International Hotel Investments plc, owner of a portfolio of hotels in Europe and North Africa operated under the Corinthia brand. Nakheel Hotels also has significant investments in the budget hotel sector, holding the master franchise rights for easyHotels.com in the MENA region with the first hotels under development in Dubai, and an investment in Tune Hotels in the ASEAN region.

For more information please contact:

Four Communications
Tel: +971 55 985 3375/3377

or

Nakheel

Lashley Pulsipher, Senior PR & Communications Executive on +971 4 375 3797/+971 (0)50 658 2052