Jumeirah to Manage Dubailand Resort

Aqua Dunya resort promises to be one of the world's most spectacular - innovative, and most versatil

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. October 14, 2008

DUBAI, UAE, July 19, 2006. Jumeirah, the dynamic and fast growing Dubai-based luxury hospitality group has signed a management agreement with owner and developer Al Sharq Investment to operate the Aqua Dunya theme park, the Jumeirah Desert Pearl Hotel, a retail, dining and entertainment district and vacation apartments at Aqua Dunya in Dubailand.

Steve Tight, CEO of Aqua Dunya commented: "We are very pleased to launch our partnership with Jumeirah as operator of the Aqua Dunya Theme Park Resort in Dubailand. By combining Jumeirah's top quality standards of hospitality and operations with our world-class design we will create the premier family entertainment experience in Dubai."

Gerald Lawless, Chief Executive Officer of Jumeirah, said: "Aqua Dunya is a truly unique development and the first theme park resort of its kind in this region. We are delighted to be entrusted with the management of the resort and look forward to its opening in 2009." He added: "Operating the spectacular water theme park facilities in Aqua Dunya will give us the opportunity to further build on the success of Wild Wadi and we look forward to providing the guests and visitors to the resort a truly unique, exciting and memorable experience."

"Our agreement with Jumeirah will benefit both Aqua Dunya and Dubailand in a number of ways, including Jumeirah's prestigious image and reputation, its global marketing and sales prowess, and its internationally recognized operational excellence." Said Mr. Ali Sulaiman Al Shehri, Chairman, Al Sharq Investment.

About Aqua Dunya

Aqua Dunya comprises the largest and most diverse theme park resort in the Middle East and a residential community of 2.860 apartments, and will rise from the middle of the UAE desert by early 2009 as part of Dubailand. It also includes the world's largest cruise ship, the Jumeirah Desert Pearl, inspired by an Arabian seafaring tale, which serves as the centerpiece of the theme park resort, and beckons travellers from near and far to join its imaginary voyage to exotic far off lands. Anchored at its own Dubailand oasis, the ship contains a climate-controlled indoor element of the theme park and an authentic 400-stateroom luxury hotel, the Jumeirah Desert Pearl.

At opening, the 8 million sq ft. resort and residential community, located in the heart of Dubailand, will include the Aqua Dunya theme park, the Jumeirah Desert Pearl Hotel, a traditional Souk and Port district, a conference centre, 170 vacation apartments, and 1.100 residential apartments offered for sale. The Aqua Dunya theme park will open with more then 35 wet and dry rides and attractions, and three exotic adventure islands, offering a one-of-a-kind family entertainment experience for residents and international visitors.

Future development will include a second theme park, an 1.800 seat theatre, two additional themed resort hotels, a golf course, and expansions to the Aqua Dunya theme park, Port district and vacation apartments.

The AED 7 billion Aqua Dunya development marks the first UAE mega-project for Al Sharq Investment, a UAE real estate arm of the Saudi-based Al Sharq group of companies. Al Sharq Investment is tasked with the development of Aqua Dunya and several other high profile real estate development concepts in Dubai.