The Ascott Limited (Ascott) rolled out its robust expansion plans for the Middle East, Africa and Turkey on the opening day of the Arabian Travel Market (ATM) 2019.
The hospitality giant has confirmed that Saudi Arabia is a top pipeline destination in the region over the next two years.
Ascott currently has five operating serviced residence properties in the Kingdom, with Ascott Corniche Al Khobar, scheduled to open in Q3 this year, adding a unique offering to the luxury market. The 172-unit property will comprise studio, one-, two- and three-bedroom apartments on Prince Turki Street within the Corniche area of Al Khobar, one of the city’s most sought-after areas, with a wide selection of restaurants, boutiques and shopping malls. King Fahd Road, Al Khobar’s main business district, is just three kilometres from the serviced residences, while the Al Khobar-Bahrain Causeway is a 10-minute drive.
Further to this, four new Ascott properties are in the KSA pipeline for 2020: Somerset Downtown Al Khobar, Ascott Villas Riyadh, Somerset Corniche Jeddah and Citadines Abha. The recently announced Citadines Al Aziziyah Al Kohbar signing, slated for Q4 2021, takes Ascott’s total footprint to 12 properties in the region.
“We’re in the midst of a very exciting period of growth in Saudi Arabia,” regional general manager – Middle East, Africa and Turkey, Ascott, Vincent Miccolis remarked. “In the four years since we launched our first property in KSA, Ascott Tahlia Jeddah, we’ve established a market-leading presence by unveiling a range of highly successful serviced residences, including Ascott Sari Jeddah, Citadines Al Salamah Jeddah, Ascott Rafal Olaya Riyadh and Spectrums Residence Jeddah. Each property is in a prime location, follows international operating standards and offers short- and long-term residents the perfect mix of luxury with contemporary design and supporting amenities.”
As the Kingdom diversifies its economy in line with the Saudi Vision 2030, Miccolis revealed that the brand is witnessing strong demand for its serviced residences, driven by a wide demographic of travellers from across the business and leisure sectors.
“The rise in visitor numbers to KSA is also likely to be bolstered by the exponential growth of Dubai International Airport – now one of world’s busiest airports and a popular stop-over/connection hub for both regional and international passengers flying to and from Saudi Arabia,” he added.
Alongside its KSA expansion plans, Ascott has identified Turkey as a key pipeline territory, and in August 2017, made its Istanbul debut with the opening of Somerset Maslak Istanbul. Two further properties are slated for opening in the city, including Citadines Maslak Istanbul in Q3 of 2019, followed by Citadines Nivo Istanbul in 2020.