May 25, 2021 real estate

Ascott plans robust Middle East expansion


The Ascott Limited revealed its dynamic Middle East, Africa and Turkey expansion plans at this year’s Arabian Travel Market (ATM) 2021, adding over 1,856 units across 14 elegantly designed and luxurious serviced residences, all slated to open by the end of 2022.

The group’s tenacious growth pipeline puts it on track to achieve its regional target of adding extra 6,000 units to its Middle East, Africa, and Turkey (MEAT) portfolio, to reach a total of 10,000 units by 2025.

Vincent Miccolis, Ascott’s Regional General Manager, Middle East, Africa, Turkey, and India commented on Ascott’s diverse expansion plans, saying: “The Middle East source markets have always been a priority for The Ascott Limited and we are proud to share the brand’s expansive MEAT pipeline at ATM 2021. We are on course towards a steady incline in occupancy rates and we are committed to achieving the growth target we set at the beginning of 2021. This year, the conference has adapted to the market conditions, allowing us to re-connect with fellow industry professionals and peers to create a dialogue for the future of travel and tourism.”

The international lodging owner-operator is set to open its highly anticipated third property in Dubai in Q3 2021. Designed to exuberate the vibrant lifestyle of the city, Citadines Culture Village Dubai will offer residents 81 spacious and sophisticated guestrooms, conveniently situated only minutes away from Dubai International Airport.

Ascott is set to further enhance its presence in the Kingdom of Saudi Arabia (KSA) by adding 461 units across its expansive source markets by 2022. The expansion includes the waterfront scenic district of Al Khobar with the opening of Citadines Al Aziziyah Al Khobar and Somerset Downtown Al Khobar; as well as the launch of Ascott’s first designed to exclusivity, community villas property in the capital; Ascott Villas Riyadh will boast 90 elegantly furnished units, comprising of 2, 3 and 4-bedroom Villas. Furthermore, the launch of Citadines Abha in Saudi Arabia’s popular tourist attraction – Abha, will showcase 140-units that will offer residents scenic mountainous views of the Asir Mountains, ideal for both leisure and business travellers.

Omani locals and residents can take comfort in the upcoming opening of Citadines Al Ghubrah Muscat, which will offer them 96-units of lavishly designed serviced apartments in the heart of Muscat’s central business district.

In Turkey, Ascott aims to open a second property Citadines Nivo Istanbul across one of the biggest malls in the city- Mall of Istanbul - boasting an additional 150 lavishly decorated one-bedroom units overlooking the serene Istanbul skyline.

Qatari nationals and residents seeking to get away from the hustle and bustle of Doha’s vivacious lifestyle can unwind in sophistication and comfort within the capital, with the relaunch of Ascott’s highly anticipated 228-unit Somerset West Bay Doha. Enriched with the country’s deep-rooted cultural heritage, the property promises residents the perfect recluse to relax in a home away from home.

The group also plans to expand its portfolio in East Africa with three new property openings slated for 2021 and 2022 in Kenya and Ethiopia; Somerset Westview Nairobi will offer the perfect blend of exquisite and contemporary lifestyles. Kenya’s capital will also witness the launch of Somerset Rosslyn Nairobi, a safely gated 150-unit community property, which will feature a host of comprehensive lifestyle amenities. In Ethiopia’s capital, Ascott is set to open Somerset Bole Addis Ababa within a strategically located mixed use developed community in Bole by end of 2022.

In North Africa, Ascott’s first 123-unit Citadines Racine Casablanca will open its doors in early 2022 to stylish travellers in the vibrant Casablanca community.

Despite the challenges faced by the hospitality sector due to the onset of the Covid 19 pandemic, Ascott globally exceeded the number of units secured in 2019, adding over 14,200 units across 71 properties worldwide in 2020, and marking a fourth consecutive year of record growth for the group. Currently, Ascott has more than 70,000 operating units and over 52,000 units under development, marking an illustrious and expansive global portfolio of 122,000 units in over 770 properties.

This year’s ATM has witnessed the launch of a special Ascott corporate offer during the period of the event. The promotion will be available for all visitors of the hybrid event’s virtual platform, offering up to 25 per cent discount on flexible rates across all participating properties in the Middle East and Turkey. Guests can avail the special Corporate Promotion 2021 via Ascott’s exhibitor page at the virtual event.

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