Dubai, June 22, 2008: IFA Hotels & Resorts (IFA HR) and JV partner Kuwait Real Estate Company announced the launch of Kempinski Residences Alabadiyah Hills, branded serviced apartments, located in the freehold Alabadiyah Hills resort in Lebanon's picturesque Dhour Abadiyah village overlooking Beirut and the Mediterranean.

Talal Jassim Al-Bahar, Chairman and Managing Director, IFA HR stated: “Lebanon is one of the most sought after holiday destinations in the Middle East, popular among tourists from the Gulf and expatriates alike. We witnessed great success with our first phase of Alabadiyah Hills which is now nearing completion. Despite the recent unrest in Lebanon, we continued with the construction of the project as we have always had strong faith in the country. We're looking forward to welcoming guests to the property in the near future. ”

Phase two of the mixed-use complex comprises four towers of four floors each, offering penthouses and one, two and three-bedroom apartments for sale, with all the extras of a five-star hotel and optional furniture packages. The complex will be managed by Europe's oldest luxury hotel group, Kempinski Hotels, and will also house a number of upscale restaurants and cafes.

Piaras Moriarty, VP Sales Middle East, IFA HR said: “Kempinski Residences Alabadiyah Hills are branded apartments that come with an optional rental programme. Targeted at high-net worth individuals living overseas, the arrangement allows this segment of investors to holiday in their own luxurious apartments and gain an income from letting out idle properties when not in use.”

Ulrich Eckhardt, President Middle East and Africa for Kempinski Hotels said: “This project with IFA Hotels & Resorts creates an ideal platform for us to enter the Lebanese market, and will set the standard for future projects in the region. Kempinski is known for exceptionally high standards of quality and service, which is one of the main advantages for investors in this luxury residence, who would be sure to receive superior five-star services all year round.”

Alabadiyah Hills is comprised of 15 private villas, 30 townhouses and 220 luxury apartments with their own swimming pools and gardens. The development also hosts recreational facilities including a members-only health club, gymnasium and tennis court.

Al-Bahar concluded: “This is another clear message to our investors that we intend to maintain our quality integrated resort development, by partnering with Kempinski, and where we are delivering on the promise made to further invest and develop in the beautiful country of Lebanon.”