updated 2/22/2011 5:46:40 PM ET 2011-02-22T22:46:40

RIYADH, Saudi Arabia and NEW YORK, Feb. 22, 2011 (GLOBE NEWSWIRE) -- Dhaliliyah Est., a Saudi Arabian investment and development group, and Nobu Hospitality LLC today announced they have signed definitive agreements to create a new joint venture company to develop luxury Nobu Hotels and Restaurants within Saudia Arabia and Kuwait, initially targeting Riyadh.

Dhaliliyah is owned by the Her Royal Highness Princess Nouf Bint Mohammed Bin Fahad Al Saud, daughter of His Royal Highness Prince Mohammed bin Fahad bin Abdul Aziz al-Saud, the Governor of the Eastern Province of Saudi Arabia.

The formalization of this agreement embodies the creation of a joint company, Saudi Nobu, to develop the distinctive Nobu Hotel brand in Saudi Arabia and Kuwait, whose facilities will include Nobu Restaurants, operated through the Nobu Hospitality management platform.

Dhaliliyah and Nobu Hospitality anticipate identifying wider opportunities to build on the strengths of the two organizations.

Dhaliliyah Est.

Dhaliliyah's core investment and development business activities also include project conceptualization, urban architecture and interior design, in addition to the operational asset management of hospitality ventures.

Nobu Hospitality, LLC.

Nobu is one of the premier luxury lifestyle brands in the world. With operations spanning five continents, the Nobu brand thrives in many global capitals as a focal destination.  The natural growth of the Nobu luxury brand built on service, image and hospitality offers the complete spectrum of hotel and residences management for unique and selected projects.

Contact:

Dhaliliyah Est. 

info@Dhaliliyah.com

NOBU Hospitality LLC.

Struan McKenzie, COO

smckenzie@NobuHospitality.com

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