VH Dubai and RCI® Sign Agreement to Offer Fractionals on Palm Jumeriah
Parsippany, NJ and Dubai, UAE (PRWEB) June 1, 2008 -- RCI®, 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.
About Group RCI
Group RCI, part of the Wyndham Worldwide family of companies, (NYSE: WYN) is the worldwide leader in timeshare exchange and the European leader in vacation rentals, with exclusive access for specified periods to more than 67,000 vacation properties in approximately 100 countries. The company is comprised of vacation exchange, including RCI®, the worldwide leader in vacation exchange and provider of travel services to businesses and consumers and The Registry CollectionÒ, the world's largest luxury exchange program; vacation rentals, including Endless Vacation RentalsSM , Landal Greenparks®, Novasol®, and more than 30 other vacation rental brands, through which vacationers can rent a variety of property types, from city apartments to villas; and NorthCourse® Leisure Real Estate Solutions, an international leader in providing a full spectrum of advisory, research, and asset management services. Wyndham Worldwide Corporation is one of the world's largest hospitality companies with leading brands in lodging franchising, vacation ownership, vacation rentals and vacation exchange. For additional information visit www.grouprci.com or the media center of www.wyndhamworldwide.com.
VH Dubai
VH Dubai is a subsidiary of RED International LLC and operates with the express aim of providing luxury serviced accommodation at unparalleled value for the customer and contributes towards the continued growth of Dubai Tourism. A truly unique concept, VH Dubai operates a network of luxury apartments on The Palm Jumeirah. All the apartments are furnished to an exceptional standard matching that of many 5* hotels and resorts. Also rivaling the world's best hotels for amenities, VH Dubai provides more space, more privacy and more comfort.
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