Zodiac to make big splash in Qatar with Ronáutica Middle East as their exclusive distributor

Notes and media contacts

About Ronautica Middle East:
Ronáutica Middle East LLC was incorporated in early 2007 as a joint venture between United Development Company and Spain's Ronáutica, S.A. Ronáutica Middle East was established for the purpose of managing and operating five-star marinas and developing yachting related activities in The Middle East. The marinas at The Pearl-Qatar will be Ronáutica's showcase in the Middle East.

Ronáutica SA has been involved in the design, manufacturing, installation and management of marinas for over 20 years. It is an experienced operator and builder of marinas, a sailing yacht manufacturer and a supplier of leisure marine services. One of its recognized qualities is its passion for the sea and its collaboration with international research centers and universities to integrate state-of-the-art solutions and equipment into its marinas.

Since its inception, Ronáutica Middle East has built a good reputation in Doha and has been successful in dealing with all aspects of Marina services. The current scope of activities includes a yacht repair yard, a ship chandlery, sailing school, diving school and charter management among others.

Amongst their current projects is the management of the three marinas at The Pearl-Qatar: Porto Arabia, Costa Malaz and Viva Bahriya. The Porto Arabia Marina will be operational by the end of year 2008.

The Ronáutica Middle East design team has been able to increase the amount of berths in The Pearl-Qatar by more than 30% thus increasing the number of berths to 1000+ including 75 super yachts. This makes The Pearl-Qatar Marinas the largest mega yacht facility in the Middle East.

In November 2007 The Pearl-Qatar was awarded the CNBC International Award for "Best Marina Development". This establishes Ronáutica Middle East as one of the leading marina management firms in the world. Ronáutica Middle East was also honored at the CNBC Arabian Property Awards with a "Best Marina Development-Qatar" Award. These CNBC Property Awards are a symbol of excellence in a competitive industry.

The lease of a selected number of marina berths in The Pearl-Qatar was initiated during 2007 with huge success. The first group of berths were rented out within days.

The future plans of Ronáutica Middle East focus on maintaining its strong position in the marine leisure industry and to expand its activities into new markets. For 2008, it will focus on becoming a key player in the yachting industry by bringing first class brands of sailing and motor yachts to the Middle East.

About The Pearl-Qatar:
The Pearl-Qatar is an offshore, Riviera-style man-made island, covering 985 acres of reclaimed land with an estimated cost of QR55bn ($15bn).

It is Qatar's first international urban development venture, one of the largest developments in the country and the first to offer freehold and residential rights to international investors. It will create over 32 kilometers of new coastline.

The Pearl-Qatar's name and location, on a former pearl diving site, highlights the country's traditions, and strong historical and cultural ties to the sea. It is an island rediscovered.

The Pearl-Qatar will eventually house 41,000 residents in an up-scale, multi-cultural residential community which will be a secure and exclusive island retreat bringing the ambience and lifestyle of the Mediterranean to the heart of Arabia.

The four-phase development comprises 10 distinct districts to be developed over a period of five years. The Riviera Arabia themed districts will house three luxury hotels, two boutique hotels, three marinas with combined mooring for over 1004 boats, and more than 2 million square feet of luxury retail, recreation and restaurant space.

Built 350 meters offshore of the West Bay Lagoon area of the country's capital, Doha, the Island will offer an exclusive retreat with easy access to the capital's thriving community.

The Pearl-Qatar is being developed and promoted by United Development Company (UDC), one of Qatar's leading private sector shareholding companies.

About United Development Company:
United Development Company (UDC) is one of Qatar's leading public shareholding companies. UDC's mission is to identify and create opportunities that contribute to Qatar's growth and provide good shareholder value. The Company was established in July 1999 and has an authorized share capital of QR1.0725bn ($294m). It was listed on the Doha Securities Market in June 2003.

UDC's target areas of interest include: infrastructure and utilities, hydrocarbon and energy, urban development, environment-related businesses, and hospitality and leisure.

From day one, the Company's mandate and mission has been to become a cornerstone in the development that the region is currently witnessing; creating lasting value and maximizing returns for partners and shareholders. Through a combination of project activities and commercial enterprise, UDC has developed into the first-choice private sector joint venture partner for international investors in Qatar, and has successfully established new companies and investment vehicles across the region.

Since 1999, UDC has moved from project research into development, production and operations. Project research has culminated into the successful creation of companies that are amongst the leaders in their related fields of industry. The Company prides itself in its ability to create quality investment opportunities both at home and overseas. The company is empowered to invest in financial instruments in Qatar.

UDC's founders, who at launch held 45% of the shares, are among Qatar's most successful investors and developers. Other Qatari and GCC investors are also shareholders in UDC.

For more information, please contact:
Mira El-Baphe
Senior Media Relations Officer
Tel: +974-5970433
Fax: +974-4438971