Complex Made Simple

Aldar and Ritz-Carlton sign a deal

Aldar Properties has signed a management agreement with The Ritz-Carlton Hotel Company, to launch the first Ritz-Carlton property in Abu Dhabi on its Coconut Island resort, reported Gulf News. Aldar signed a joint venture agreement with National Corporation for Tourism and Hotels to develop the resort in 2007. The resort is due to open in 2011, and includes a high-end residential community, lagoon, marina, spa, and now, a Ritz-Carlton hotel.