From correspondents in Emirates, United Arab Emirates, 05:30 PM IST

Leading Abu Dhabi-based property developer Aldar Properties' hotels and hospitality division signed an exclusive agreement with India's Taj Hotels Resorts and Palaces.

The agreement was signed by Paul Bell, Aldar Hotels and Hospitality managing director, and Raymond N. Bickson, managing director and chief executive of The Indian Hotels Company Limited, which owns and operates 79 Taj properties across the world, according to an Aldar statement.

'Aligning with leading internationally recognised hospitality brands is part of Aldar's strategy to bring high quality investment opportunities to our developments,' Aldar chief executive Ronald Stephen Barrott said in the statement.

'This agreement signifies Aldar's commitment to bring world-class players to our market, and to Abu Dhabi,' he added.

The exclusive agreement between Aldar Hotels and Hospitality and the Taj Group will cover a number of hotel projects.

The first hotel to be developed by Aldar Hotels and Hospitality under the agreement is a five-star, 500-room luxury resort hotel, which will be in a waterfront location on Aldar's mega entertainment destination, YAS Island.

The hotel will be branded as a Taj Palace Hotel.

(Staff Writer, © IANS)