Group RCI has signed an agreement with the Dubai-based PKN Group to manage the vacation rental and exchange programme for the new Princess Resort.

Set amidst the Emirate’s hilly peaks, the development is the first mixed-use resort of its kind in the UAE to be affiliated with Group RCI, said an official spokesman.

The Princess Resort is a unique concept designed to embrace the glitz and glamour of a Las Vegas style experience, with entertainment, palaces, lagoons, equestrian trails and even snow capped towers.

Developed with the guidance Ruler of Ajman Shaikh Humaid bin Rashid Al Nuaimi, the resort comprises nearly 1,600 one to three bedroom apartments along with 100 exclusive villas and chalets, 2 luxury five star hotels with 488 rooms. The development is set for completion by 2010 with an estimated cost of $1.25 billion.

One of the main features of the agreement between Group RCI and PKN is the potential for prospective purchasers to generate rental income from short-term holiday rentals by marketing their property to a wide audience.

Owners will also have access to 4,000 resorts worldwide that are affiliated with the RCI vacation exchange network.  In addition to the regular rental and exchange opportunity, some of the high-end residential units will be included on in The Registry Collection, the world’s largest luxury exchange programme.

This provides the added benefit of exchanging exclusive holiday accommodation with over 120 luxurious destinations around the world, 24-hour concierge services and access to airport lounges.

The agreement means that Group RCI will manage over 500 residential units within the PKN holiday exchange program. These will be added to the company’s global distribution network which includes exclusive access for specified periods to over 60,000 vacation properties in more than 100 countries.

“The PKN Princess Resort is an excellent example of how Group RCI can add value to a developer’s project. We possess a wealth of relevant experience, have a great regional network of customer service centers and offer owners at the PKN Princess Resort the opportunity of distribution throughout the world,” said RCI Middle East managing director Nick Turner. – TradeArabia News Service