Jun. 5, 2007 -Al Osaimi Group, a leading Kuwait-based developer, has announced an investment of AED 1 billion towards the development of two luxurious hotels and an upscale residential complex located on the crescent of The Palm Jumeirah in Dubai. The company has appointed Dusit International, one of the world's most prestigious Thai hotel chains, for the management of its first venture in the UAE, which is targeted for completion in 2010. The announcement was made during the signing of the formal agreement between the two companies represented by Abdul Rahman Al Osaimi, Chairman, Al Osaimi Group of Companies and Chanin Donavanik, CEO and Managing Director, Dusit International, in the presence of senior executives from Kuwait, Dubai, and Thailand, in addition to several guests and VIPs from different companies associated with the project.

Spanning approximately 100 million sq. ft. on the crescent of The Palm Jumeirah, the project comprises of a seven-star Luxury Hotel, five-star Family Resort and an upscale Residential complex with a combined total of 180 freehold plush townhouses and lavish penthouses. With a traditional Indian architecture and design, the Luxury Hotel offers 116 guestrooms and suites, whilst the Moroccan-themed Family Resort has 292 rooms and suites. Both hotels will offer distinctive dining experiences, private chalets, themed landscaping, ballroom and state-of-the-art facilities among other amenities.

The luxurious development will also include Dusit's renowned Deverana Spa, which will feature treatments exclusive to the hotel, providing guests an authentic and unforgettable Thai experience without leaving the UAE. Visitors can also expect to be pampered with the internationally acclaimed service of Dusit International, which incorporates traditional Thai culture and hospitality for a personalized experience. The elite development will offer unrivalled privileges, and further details will be revealed in the coming months.

"Dubai is a booming real estate and investment market that has witnessed unprecedented growth over the years, and the industry has sustained growth and defied downtrends, which reflects its strength and of Dubai's economy in general. Our foray into Dubai is a strategic move to boost our presence in the GCC, and this project sets the level of upcoming major investments we are set to undertake in this part of the world. By partnering with the world-renowned Dusit International, we manifest our commitment for luxurious and prime property developments and assure our clients the highest standards of comforts and convenience Dusit has been celebrated for across the world," said Abdul Rahman Al Osaimi, Chairman of Al Osaimi Group.

"With more than 25 years of experience in Kuwait and across the GCC, Al Osaimi Group has established a significant reputation in the market, having delivered major projects distinguished for their excellent design and architecture," added Al Osaimi.

Since its inception in 1992, the Al Osaimi Group has handled various projects in Kuwait and across the region spanning residential, commercial, retail and hospitality developments. The company's extensive portfolio covers project development, real estate investment, construction, and engineering performed by the Group's flagship company -- Oriental Constructions (ORICON). The subsidiary firm, which has spearheaded over 15 projects, is handling the Group's development on The Palm Jumeirah.

"The decision to collaborate with Al Osaimi Group was based on a strong shared ethos, and we have closely collaborated with them from the project's inception with strategic inputs that complement their vision for this development. The excellence of Al Osaimi Group's design and architecture and our unique brand of service will usher a luxurious option into the Middle East market, and we are confident that this new project will be met with huge success," said Chanin Donavanik, CEO and Managing Director, Dusit International.

"Dusit International has gained more than 50 years of expertise in five-star hotels and resorts, and we pride ourselves in being the best in the industry. Our team has perfected a unique service to clients, which combines lavish amenities and services with unforgettable traditional Thai hospitality and culture. We are very excited about this new development on The Palm Jumeirah, and guests can look forward to an exceptional offering and attention to detail that Dusit International is well-renowned for," he added.

Bangkok-based Dusit International maintains 18 of the world's finest luxury hotels and resorts in Thailand's major destinations such as the renowned Dusit Resort, Pattaya and Dusit Laguna Resort, Phuket. It tapped a highly viable Middle East market when it opened Dusit Dubai in 2001, a purely business-focused hotel located on Sheikh Zayed Road, adding to its previous overseas hotels in the Philippines and Myanmar. The Dusit brand of hotels is part of the Dusit Group which also includes the first-class Royal Princess Hotels & Resorts and D2hotels & resorts, offering alternative choices for the traveler with a service blended with traditional Thai hospitality.

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