RCI announces unique partnership with Le Meridien Towers Makkah

Located in the heart of the Muslim world, the property will offer pilgrims and visitors to Makkah a chance to buy a deed of partial ownership in a range of over 1,300 apartments, varying from studios to one bedroom and two bedroom units. Developed by Saudi Arabia's Amjad Company in association with Al Fassel Global Services (AFGS), Le Meridien Towers will be available for occupancy during the first quarter of 2007.

Commenting on behalf of AFGS, General Manager Jamal Al Sellami, explained that "the whole project conforms to the Sharia principles of Sokouk. We have undertaken considerable research to ensure compliance with Islamic values. We're sure that this innovative approach will provide many benefits for pilgrims to Makkah and will build the reputation of partial ownership in this highly dynamic sector."

According to Preben Vestdam, President & CEO of RCI Europe and Middle East, this is one of the most significant new developments in specialized global tourism and the first time that such a partnership has been created in either of the Kingdom's main religious centres. "We have witnessed some interesting evolutions in a variety of specialist sectors in recent years, from medical and wellness tourism to retreats and holistic spas, but this has a more broadly based appeal to the 1.3 billion strong Muslim community around the world," said Vestdam.

Partial ownership intervals at Le Meridien Towers will be offered to Muslims in accordance with the Hegira (Islamic) calendar, thereby assuring early purchasers of attendance during the main pilgrimage seasons. According to RCI, the intervals will vary in length from 5 nights, available during the Ramadan period, to the maximum of 30 nights in length for the Hajj period.

Around 4 - 5 million Muslims from overseas visit the holy sites in the Kingdom each year, with more coming from the local population. An increasing number of them stay in deluxe hotel accommodation with official statistics indicating annual growth in this sector of 19%. RCI anticipates that ownership of an interval in Le Meridien Towers will prove very attractive to pilgrims and as many as 30,000 families could become owners by mid-2008.

Apart from enjoying the high-quality surroundings of Le Meridien Towers in Makkah through a flexible reservation system, purchasers will have the added option of travelling to other destinations around the world. By exchanging their occupancy rights, owners will be able to access RCI's unique portfolio of 3,800 worldwide properties and a range of travel options from airlines to car rental companies.

In addition to the luxurious accommodation, Le Meridien Towers will also feature prayer rooms, a health club, restaurants and coffee shops and a selection of high quality stores and food courts. Located about a mile away from the Holy Mosque in Makkah's Al Rawabi Ajyad district, access to the Mosque is provided via a private tunnel, thus avoiding some of the throngs of pilgrims.

Another benefit to customers is the network of multi-lingual RCI reservation centres located around the world. To service the Pan-Arab region, RCI recently inaugurated its new Middle Eastern headquarters and customer service centre in Dubai, offering a whole range of services.

Arabic language telephone services, brochures and magazines complete RCI's focused approach to customer service that will provide owners at the Le Meridien Towers with all the support they need to fully enjoy their own property as well as other travel opportunities offered by RCI.