VH Dubai and RCI Agree to Offer Fractionals on Palm Jumeriah
DUBAI, ERA, June 2, 2008. RCI(R), part of Group RCI, and one of the Wyndham Worldwide family of brands (NYSE: WYN), and VH Dubai have entered into an affiliation agreement whereby VH Dubai will offer prospective purchasers the opportunity to own a piece of the Palm Jumeirah.
This eagerly awaited fractional ownership project offers buyers a chance to purchase one of VH Dubai's luxurious suite apartments, as well as be a part of the The VH Residence Club. VH Dubai is committing over 50 apartments to the Residence Club all of which are made up of 2 bedroom apartments. This is the first fractional offering of its kind by VH Dubai in Dubai.
Nick Turner, managing director RCI Middle East E.C., commented on the opportunity: "VH Dubai is offering the chance to own a portion of this idyllic eighth wonder of the world at a fraction of the cost of buying outright. RCI is pleased to be aligned with them on this project and to provide global services and benefits to future VH Residence Club owners."
"Due to the thriving interest and intrigue surrounding Dubai, guests are attracted to this stunning location at exponential rates and VH Dubai's unique offerings have been excellently received," said Umar Mian, CEO and managing director of VH Dubai and The VH Residence Club.
Since its debut in 2007, VH Dubai's occupancy levels have averaged over 90 percent and this innovative company has achieved unprecedented growth in its opening year of operation.
"Due to overwhelming response from past residents, we are now able to offer our guests the opportunity to own a piece of the property for themselves," added Mian.
For additional information on the services offered to developers by Group RCI and how they can add potential value to leisure real estate projects, visit www.grouprci.com.
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