Asia PR News

Dubai, United Arab Emirates, Jan. 30 /Xinhua-PRNewswire-AsiaNet/ –

Raffles Da Nang Resort and Residences Da Nang, Vietnam

Kingdom Hotel Investments ("KHI"), the leading hotel and resort investment
company, is pleased to announce the acquisition of a prime beach site for the
development of a luxury resort and residences for sale in Da Nang, Vietnam.
The resort will be built for approximately US$ 65 million. This will be KHI’s
first hotel in Vietnam and marks an important milestone in the company’s
continued expansion in Asia.

Branded as Raffles Da Nang, the proposed resort will open in 2011 and
feature approximately 150 hotel suites and 15 private residential villas for
sale on 154,000 square meter of direct beachfront land. Raffles Da Nang will
be the third international resort in this popular destination, located on the
South China Sea.

Recognizing the growing demand for luxury accommodation in this region of
Vietnam, KHI selected the property for its private beachfront access and
proximity to Da Nang, a major city located close to three UNESCO World Heritage
sites. The city is a popular stop for holiday travellers and has excellent
international airline connections to Singapore, Hong Kong, Bangkok and other
key regional markets.

Raffles Da Nang will be KHI’s third venture in Asia, following the purchase
of the Movenpick Karon Beach Resort in 2006, and the announcement earlier this
year of a land acquisition for the development of a Raffles hotel in Phang Nga
near Phuket (Thailand). The Da Nang acquisition was made through a joint
venture company, which is 80% owned by KHI and 20% by European Hotels
Corporation Ltd (EHC), KHI’s joint venture partner in Phang Nga and Marrakech.

KHI continues to explore future expansion opportunities in the region.

HRH Prince Alwaleed bin Talal bin Abdulaziz Alsaud, Chairman of KHI, said:
"Vietnam is one of Southeast Asia’s fastest growing economies and is ranked as
having the 6th highest growth forecast in the world according to the World
Travel & Tourism Council. As inbound leisure and business tourism increases,
we will be well positioned to offer the market a leading international hotel
property."

Sarmad Zok, Chief Executive Officer of KHI, said: "Raffles Da Nang Resort
and Residences is ideally located on a pristine beachfront site on the famous
China Beach, with a strong ancillary real estate offering. This transaction
successfully demonstrates the company’s ability to grow within Asia’s emerging
markets and be a leading player in an area fast becoming one of the most
popular tourist destinations in the world."

Notes to Editors

About Kingdom Hotel Investments ("KHI")
KHI, headquartered in Dubai (UAE), is a leading international hotel and
resort acquisition and development company focused on the first-class and
luxury market segments in international high-growth markets such as the Middle
East, Asia, Africa, emerging markets and Europe.

The company has ownership interests in 31 properties in 17 countries
including 18 operational hotels and resorts (over 4,100 rooms) and 13 hotels
and resorts (over 3,500 rooms) currently under construction or in the initial
stages of development. KHI is listed on the Dubai and London stock exchanges.

About Fairmont Raffles Hotels International, Inc.
Fairmont Raffles Hotels International, Inc. is a global hotel company
headquartered in Toronto, Canada. The company owns and manages 120 hotels in
25 countries under four brands, Fairmont Hotels & Resorts, Raffles Hotels &
Resorts, Swissotel Hotels & Resorts and Delta Hotels as well as vacation
ownership properties managed by Fairmont Heritage Place.

Enquiries
Brunswick: Kate Holgate/Laura Cummings
Tel: +44-207-4045959

SOURCE Kingdom Hotel Investments