Dubai, Tuesday May 6, 2008-- Amid major celebrations in Dubai, Jiwar Real Estate Management & Marketing Company, which is one of the leading real estate companies in the Kingdom of Saudi Arabia and the Gulf region based in Riyadh, and is the marketing arm of Binladen Group in Saudi Arabia- announced its alliance with Rotana - the Emirati Hotel Management Group and is the "leading hotel chain in the Middle East and North Africa". The alliance was manifested by inking an agreement according to which Jiwar Company would manage and provide hotel services to Marwah Tower in Mecca, which will be opened by the end of 2008.

Rayhaan - Al Marwa Hotel, which is managed by Rotana and is part of Al Bayt Towers complex, will provide state-of-the-art, five-star service and will include more than 1000 rooms and suites in addition to restaurants and highly sophisticated facilities for holding conferences and other occasions. Besides its exceptional services, the hotel will also welcome pilgrims and guests from around the world, providing them with a variety of facilities and choices that meet their needs. The hotel includes 27 elevators which guarantee the fast and comfortable movement of guests keen to meet the prayer's call. Also, the hotel provides all types of services needed during their stay. The area of the tower is 62.100 sqm.

"We are honored to win the confidence of owners of Al Marwa Tower units- to invest in them, manage and provide hotel services- which culminates our long relationship with our investors," said Dr Saleh bin Abdullah Al Habib, the CEO of Jiwar Real Estate Management & Marketing Company, which owns the right the operate Al Marwa Tower.

"We are very pleased to be working with the Emirati based Rotana Hotel Management Corporation, which is a leader in the hospitality industry known for its Arabian hospitality with an international spirit."
Rayhaan Al Marwa property is situated on the right side of Al Bayt Towers projects, which faces King Abdul Aziz Gate. Major units of the tower have an overview of the Holy Mosque and the Ka’aba. Rayhaan Al Marwa units were designed as studios, which would satisfy both the customer and the investors. Theses studios provided with features found in high-end hotels.

According to Mr. Al Habib, the amount of money invested in Al Marwa Tower have reached nearly 1.5 billion Saudi Riyals.

The new hotel constitutes the core of the Al Bayt Towers complex, which is the one of the latest ongoing projects in the Saudi Arabia, and is part of King Abdul Aziz Endowment (Waqf)--which is aimed at developing the areas surrounding the Holy Mosque in Mecca. The project is comprised of seven towers which will be built on an area of 6.15 million square meters.

Mr. Nasser Al Nowais, Chairman of Rotana Hotel Management Corporation, welcomed the signing of the agreement. "The essence of Rotana is the diversity in the products and genuine Arabic hospitality. Our partnership with Jiwar Real Estate Management & Marketing Company and Binladen Group in Saudi Arabia will enhance our distinctiveness and our longstanding services. We are proud to manage this new hotel. Rayhaan Al Marwa Hotel is part of our strategic vision to be present in key cities within the Middle East. It's a goal we are well in our way to achieve through our well-drawn plans," said Mr. Al Nowais.

Dr. Mashhour Al Madoudi, head of Jiwar's Executive Council, said: "We are anticipating a fruitful alliance and wish Rotana a successful experience in Saudi Arabia, and especially in the best spot in the world, Makkah, and we are fully confident that this project will be landmark in the region."

Al Bay Towers, including Al Marwa Tower, derive its importance, value and distinctiveness from its unique location by the Holy Mosque in the Honored Makkah. Furthermore, most of its rooms have a view of the Holy Mosque and the Ka’aba, in addition to moral value of the project as the biggest endowment investment in Saudi Arabia and the Islamic World. The profits of this project will be very high because real estate investments in Makkah is different than other projects. The fact that the rooms have a view of the Ka’aba, allow the guests to perform the prayer from the comfort of their rooms or the prayer rooms across the building.

When building towers complex, Binladen Group have taken into consideration several thins, including: the integration of all of the project services; accommodation, restaurants, shopping mall, prayer rooms, parking space, catering, banks and children entertainment services. And that achieve double benefits; providing services to guests and visitors of the Holy Mosque, in addition to attracting residents of Makkah to visit it, which would make the project operational all year long and not only during peak times. The project also ensured that the aesthetic aspects comfort with the peculiarity of the holy place and preserve the environment in addition to making sure that pedestrian and motor lanes are separated and that the project is accessible from all directions. Also, most of the project facilities are connected to each others either by bridges or elevators which would ease the traffic flow, especially during peak times.

Mr. Selim El Zyr, President & CEO of Rotana, praised for his part the partnership between Jiwar Real Estate Management & Marketing Company Binladen Group in Saudi Arabia. "We are proud to manage this unique property as our first entrance to Saudi Arabia, under Rotana’s new brand which we have recently launched. Our team is very excited about this unique opportunity to expand into Saudi Arabia. We are certain that we will be able to introduce new standards in the tourism sector in Makkah."

He added: "As a result of the success of Rotana’s aggressive expansion which will see the establishment of more than 62 properties before 2012, we have worked on a project aimed at supporting its expansion plans and brand name. After giving careful consideration to the diverse needs of our guests, we have introduced Rayhaan, to Rotana’s hotel and resort portfolio. An Arabic name that refers to an aromatic plant mentioned in the sayings of prophet in the Holy Quran, Rayhaan reflects our respect for the culture and beliefs of our guests and our dedication to fostering a new Arabia in today’s world”.

El Zyr said “to our valued patrons, Rayhaan offers an uncompromising alternative that upholds the world-class standards synonymous with the Rotana name. An entirely new concept in the region and on the market, this brand has an inherent appeal to guests in the Middle East”.
Saleh Al Habib concluded by saying: "We are proud of our partnership with Rotana Hotel Management Corporation and we hope that this will be the beginning for a series of properties in and outside of Saudi Arabia. Our Strategic vision for 2010 is to become right next to one of the most valuable companies in the Middle East."

Jiwar is currently moving fast in order to activate its strategy to extend its operations by geographic expansion and diversification of sectors. Binladen Group has already made a success in real estate projects with the seven tower complex (Safa, Marwah, Hajer, Zamzam and Al Marwa) in addition to the promising Rawabi Al Bayt Towers which comprises of 21 towers. Jiwar is currently working on tapping into expertise to explore international markets and develop its abilities in hospitality and catering which comes along with its desire to achieve its policy of providing a comprehensive service in real estate development. Jiwar is working now to enter the Saudi stock market by 2009. To transform into a shareholding company Jiwar is presently restructuring itself and working to obtain ISO 9001:2000 certification.