Union Properties and The Ritz-Carlton, Hotel Company L.L.C. partner to open a hotel in the center of Dubai's new financial district

Scheduled to open in 2008, this will be the second Ritz-Carlton in Dubai and the fifth location in the Middle East for the award-winning luxury hotel company.

"We believe the hotel will be a very strategic addition to our global portfolio," noted Simon F. Cooper, president and chief operating officer of The Ritz-Carlton Hotel Company. "We have enjoyed great success with our resort on Jumeirah Beach, therefore the opportunity to expand our presence in Dubai and be part of a region of substantial growth is a tremendous opportunity. The Ritz-Carlton, Dubai International Financial Centre will attract senior corporate executives travelling to Dubai to conduct business in the centre, and provide an outstanding meeting site for the international companies that have opened offices and expecting to open offices at the DIFC. Dubai is a vibrant and exciting city, poised on the brink of becoming one of the world's foremost leisure and business destinations, and we feel privileged to play a part in this development."

Mr. Anis Al Jallaf, Chairman, Union Properties, speaking on the occasion said "The visions of our leaders seemingly have no boundaries and the Dubai International Financial Centre is yet another example of the foresight of Sheikh Mohamed Bin Rashid Al Maktoum, Crown Prince of Dubai and U.A.E. Defence Minister. Our partnership with The Ritz-Carlton Hotel Company in the development of The Ritz-Carlton, Dubai International Financial Centre, is in sync with that vision. The Ritz-Carlton Hotel Company has established a world class reputation for outstanding service and surroundings, and with our joint venture Dubai can expect a hotel and residences which will be the most prestigious address in the region."

A soaring contemporary design on Sheikh Zayed Road, The Ritz-Carlton, Dubai International Financial Centre will stand 15 stories high. The interior will blend elements of modern style and classic Arabic design elements for a showplace of luxury and elegance. The 330 guestrooms and suites will include a Ritz-Carlton Suite and Royal Suite with the convenience and comfort suitable to host visiting dignitaries and delegations.

Several floors of the hotel will be dedicated to guests of The Ritz-Carlton Club, which features an extra measure of privacy and amenities for guests. A dedicated concierge will staff The Club Lounge, offering complimentary food and beverage presentations from breakfast to after hours cocktails.

Three restaurants, including specialty dining outlets, will provide a setting to enjoy the cuisine made famous by Ritz-Carlton chefs. A Lobby Lounge and Bar will offer a casual elegance for the enjoyment of afternoon tea and evening cocktails.

Meetings and conference space at The Ritz-Carlton, totaling 2000 square meters will be extensive, and flexible enough to host large gatherings and exclusive social events. The facilities include a 1,400 square meters Ballroom, five meeting rooms, including a boardroom, will be available to accommodate a range of needs and occasions.

Recreational amenities will include a 2100 square meters health club and spa, as well as both indoor and outdoor swimming pools. Serviced apartments will range in size from 125 to 350 square meters and feature one to four bedroom, furnished luxury units. Residents will be able to utilize all services offered by the hotel including housekeeping, catering, concierge, and in- room dining.