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The Saraya Aqaba Resort Destination on the Gulf of Aqaba in Jordan, Signs Jack Penrod's
 Nikki Beach to Operate a 140 room Resort Hotel with a Residential Component
Middle East and North Africa Business Report, Amman, JordanMcClatchy-Tribune Regional News

May 5, 2008 - Saraya Aqaba Real Estate Development psc. and Nikki Beach EMEA Hotels and Resorts Limited, one of the world's most recognizable lifestyle and entertainment brands, signed an agreement to operate a luxurious hotel and a number of serviced lifestyle residential units in the Saraya Aqaba destination in Jordan. The Nikki Beach Hotel & Residences at Saraya Aqaba will be the first in the Middle East, among other fifteen new hotels and resorts located in 12 countries around the world.

The agreement was signed by Mr. "Shadi Ramzi" Al-Majali, General Manager of Saraya Aqaba and Mr. Jihad El-Khoury, Chairman and CEO of Nikki Beach EMEA Hotels and Resorts, in the presence of Mr. Ali Kolaghassi, Vice Chairman and CEO of Saraya Holdings, and Vice Chairman of the Board of Directors of Saraya Aqaba, and Mr. Jack Penrod, Owner and Founder of Nikki Beach and Mr. Sary Arab, Chief Operating Officer of Nikki Beach EMEA Hotels & Resorts.

"Saraya is proud to be the first in the Middle East to bring the Nikki Beach brand on board. And as we always seek to distinguish each Saraya destination with its meticulously selected characteristics, Saraya Aqaba's partnership with Nikki Beach today adds the fresh and vibrant element to the Saraya Aqaba destination, hosting this highly acclaimed lifestyle and entertainment brand, while also opening new horizons for Aqaba as well. It is with great pride that we offer Saraya Aqaba residents, guests and visitors this different and unmatched style and class of luxury," said Mr. Ali Kolaghassi, Vice Chairman, CEO of Saraya Holdings, and Vice Chairman of the Board of Directors of Saraya Aqaba.

"Saraya Aqaba's partnership with Nikki Beach Hotels & Resorts expresses an integrated pioneering vision towards the tourism sector, as a vibrant sector, and one of diversity and openness. Our partnership with the best experts in the field of premier luxury, leisure and entertainment comes to translate our keen interest in placing Aqaba on the international tourism map, bringing the luxury beach Lifestyle to the shores of Aqaba." said Mr. "Shadi Ramzi" Al-Majali, General Manager of Saraya Aqaba.

""The Saraya Aqaba superb location with its unique blend of luxury villas, high end retail and a world class hotels, fits perfectly with our strategy to develop the best and most exclusive destinations in the world. Nikki Beach offers a unique experience combining five-star service, luxury accommodations, design and ambiance with signature entertainment in an international, jet-set resort environment," said Mr. Jihad El-Khoury, Chairman and CEO of Nikki Beach EMEA Hotels and Resorts.

Located on the shores of Aqaba on the Red Sea, the Nikki Beach Hotel at Saraya Aqaba will include approximately 140 hotel rooms, 28 of which are hotel suites. Residents and visitors of the Nikki Beach Hotel will have access to its different dining facilities and restaurants, beach club and outdoor pool, Spa and fitness facilities, business center with meeting rooms, as well as retail shops.

Furthermore, Nikki Beach will entail a residential component consisting of 132 units of one, two or three bedrooms, as envisioned by Nikki Beach developers of the boutique hotel concept of a life full of sheer luxury. Catering to the VIP, Nikki Beach lifestyle residences will offer 6-star services with unique and bespoke privileges, such as fully furnished residential units up to the highest standards bearing the Nikki Beach signature design package and furniture, access to Nikki Beach Resort, Priority access and VIP treatment in all the hotel's facilities and outlets, exclusive discounts, 24 hour "Nikki Sensations" concierge service, care free maintenance 24-7, as well as many other privileges.

The Nikki Beach series of Hotel and Resorts in different parts of the world offer an exclusive range of 5 star amenities and services in enchanting settings, with Ultra VIP Service for all guests, offering the theatrical entertainment Nikki Beach Style, interactive events that are heavily influenced by Art, Music, Fashion, & Film that has been the hallmark of the brand since the 90s.

The Saraya Aqaba destination, built over an area of 617,000 square meters, around a man made lagoon adding 1.5km to the beach front of the Gulf of Aqaba, includes various types of residential units. The destination also includes five 5-star hotels and two boutique hotels, Souk Saraya which includes retail shops, restaurants and recreational activities, in addition to "Wild Wadi" Water Park, amphitheatre, kids club, Sports Park, beach club, offices and conference center as well as other facilities. The Infrastructure and construction works in Saraya Aqaba have reached an advanced stage of development on ground, as it is expected to open by the end of 2009 with an approximate cost of one billion USD.

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To see more of the Middle East and North Africa Business Report or to subscribe to the newspaper, go to http://www.menareport.com/.

Copyright (c) 2008, Middle East and North Africa Business Report, Amman, Jordan

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