Real Estate — January 15, 2013

Fairmont Heritage Place Announces New Luxury Residences on Dubai's Palm Jumeirah Island

TORONTO, ONTARIO--(Marketwire - Jan. 15, 2013) - Fairmont Hotels & Resorts today announced the newest addition to its private residence club offering with the launch of Fairmont Heritage Place, The Palm, Dubai.

Fairmont Heritage Place, The Palm features 10 residences sold in 1/13th fractions. Located within the penthouse levels of the newly opened Fairmont The Palm hotel, the residences range from one-bedroom units averaging 1,550 square feet to two-bedroom units averaging 2,400 square feet. The residences boast expansive windows with wonderful views, adding to the sense of space and relaxation. All bedrooms have large en-suite bathrooms, open concept dining and living areas, and large private terraces running the length of the residences.

Ownership at Fairmont Heritage Place, The Palm means enjoying an exclusive residential enclave within the most prestigious levels of the hotel, the attentive service of its staff and use of the hotel's exceptional amenities. Guests and residents on the Palm Jumeirah can choose from seven restaurants and lounges in the 'neighborhood' from all-day dining with a dedicated juice bar and chef's table to pan-Chinese to one of the city's only authentic Brazilian restaurants, incorporating the Churrasco method of grilling. A large outdoor dining area by the beach also offers à la minute wok tableside cooking for additional authenticity. A cigar and malt lounge provides a respite in the comfort of elegantly chic surroundings, highlighted by a walk-in humidor. Outdoor leisure facilities include a private beach club, an outdoor pool complex and Children's Activity Centre, as well as a Willow Stream Spa.

Fairmont Heritage Place, The Palm offers owner amenities which include access to airport transfers, valet parking, concierge services, daily housekeeping, 24-hour room service, preferred rates at Willow Stream Spa and priority restaurant reservations, as well as use of an exclusive, well-appointed lobby level Owners' Lounge.

"Not only are we opening a new luxury resort on The Palm, but we are also able to expand our private residence club offering with the debut of this Fairmont Heritage Place in Dubai," said Jennifer Fox, President, Fairmont Hotels & Resorts. "Our new homeowners will have a great range of services affiliated with the hotel, as well as unique owner privileges both here and throughout our Fairmont Heritage Place portfolio."

Flanked by two residential towers and adjacent to a soon-to-be debuted walkway filled with restaurants, upscale boutiques and luxury shops (the Golden Mile), Fairmont The Palm, Dubai is ideally located on the Palm Jumeirah for guests seeking short distance leisure activities, dining and exploration in and around the neighborhood. The hotel is also minutes away from the Dubai Marina, lauded for its café style restaurants and al fresco dining alongside the Jumeirah Walk and public beach, and is in close proximity to key business districts, including Dubai Media City, Dubai Internet City and Dubai Knowledge Village. A short distance away is some of the city's best shopping with the Dubai Mall, featuring over 1,000 shops, an aquarium and underwater zoo, ice rink, and an indoor theme park.

Joe Sita, President of IFA Hotel Investments, responsible for building and asset managing the hotel, said: "We are really pleased with the final product here, both in terms of the hotel and the private residence club. As the first Fairmont Heritage Place to come to market in the Middle East, we've intentionally kept it very exclusive, with only 130 fractions available for purchase. With its remarkable location on the Palm Jumeirah, the superior service and amenities of the hotel and such limited opportunities for purchase, we are certain it will strike the right chord with owners looking for a turnkey holiday home in the GCC."

For ownership opportunities please visit fairmontheritageplace.com/thepalm.

Fairmont Heritage Place is a leading operator of private residence clubs. Featuring luxury home developments in world-class destinations ranging from San Francisco and Santa Fe in the United States to Acapulco, Mexico and Zimbali, South Africa, Fairmont Heritage Place combines the impressive amenities and attentive service of Fairmont Hotels & Resorts with the luxurious comforts of an elegant private retreat. Fairmont Heritage Place owners, as well as being able to enjoy their own homes, receive extensive ownership benefits including exclusive membership to Fairmont President's Club, a recognition program designed around members' personal travel passions, including access to many special events and other opportunities. Owners can utilize their allotted time at other Fairmont Heritage Place locations around the world. They also have the unique opportunity to enjoy exchange privileges at Fairmont, Raffles and Swissôtel's worldwide collection of distinctive hotels and resorts and through the extensive portfolio of The Registry Collection® program.

About Fairmont Heritage Place: Fairmont Heritage Place, the private residence club division of the global luxury hotel company Fairmont Hotels & Resorts, is a collection of extraordinary residences offering vacation home ownership in some of the world's most sought after locations. Whether perched 10,000 feet up a mountain, at the base of the ski slopes, a toe's length from a barefoot stroll along the beach, or part of an urban oasis, Fairmont Heritage Place properties are exquisite in their luxurious décor and design. With uncompromising attention to detail, the finest comforts of home and a true reflection of the local destination, each property offers privileged access to an array of personalized services and amenities ensuring owners and guest feel at home. For additional information please visit fairmontheritageplace.com.

About Fairmont Hotels & Resorts: Fairmont Hotels & Resorts is a celebrated collection of more than 60 luxury properties around the globe, including Shanghai's Fairmont Peace Hotel, The Plaza in New York, and Makkah Clock Royal Tower in the Kingdom of Saudi Arabia. The luxury brand's distinctive hotels offer a sense of heritage and sophistication, warm, engaging service and culturally rich experiences. A community and environmental leader, Fairmont is also recognized internationally for its responsible tourism practices and award-winning Green Partnership program. Fairmont is owned by FRHI Holdings Limited, a leading global hotel company with over 100 hotels under the Fairmont, Raffles, and Swissôtel brands. The company also manages Fairmont, Raffles and Swissôtel branded luxury private residences club, whole-ownership residences and serviced residences properties. For more information or reservations, please call 1-800-441-1414 or visit fairmont.com.

Become a fan of Fairmont. Join our online communities at everyonesanoriginal.com, facebook.com/fairmonthotels, twitter.com/fairmonthotels, and pinterest.com/fairmonthotels/. For career opportunities, visit facebook.com/fairmontcareers.

About IFA Hotels & Resorts: IFA HR is a leader in the development of mixed-use hotel and residential resort projects throughout the Middle East, Europe, Africa, the Indian Ocean, Asia and North America. Listed on the Kuwait Stock Exchange, with a market capitalisation of US$1 billion, and also on the Johannesburg Stock Exchange, IFA Hotels & Resorts' main shareholder is Kuwait based International Financial Advisors (IFA). With a proven track record of delivering integrated resorts through international hotel brands, IFA HR is one of the few global real estate developers that have demonstrated the ability to sell, develop and asset manage the full range of real estate vacation products to an international audience. IFA Hotel Investments is a wholly owned subsidiary of IFA Hotels & Resorts and is responsible for overseeing all of the company's operational assets. Visit ifahotelsresorts.com and www.ifahi.com.

Contact Information

Fairmont Hotels & Resorts
Lori Holland
212/715-7098
lori.holland@fairmont.com

IFA Hotels & Resorts
Samantha McBride
971 4 423 2735
samantha@ifahotelsresorts.com

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