Ascott signs deal for Al Khobar property

George Sell By George Sell
31 March 2016 | Updated 31 March 2016

KSA: The Ascott has signed a deal with developer Riyadh Real Estate Income Company to manage the 172-unit Ascott Corniche Al Khobar.

The property, which will open in mid-2018, will be located on Prince Turki Street within the Corniche area of Al Khobar. It will feature a range of of studio, one-, two- and three-bedroom apartments spread across 13 floors.
                                       
Additional facilities will include a restaurant, reception and lobby area, gym, sauna, steam bath, Jacuzzi and covered swimming pool, in addition to a fully-equipped business centre, cigar lounge and ample outdoor car parking.

"We are delighted to sign the contract with Riyadh Real Estate Income Company to develop Ascott Corniche Al Khobar which, upon its opening in 2018, will be the first branded serviced residence in the prime Corniche district," said Tony Soh, chief operating officer, The Ascott Limited.

"Designed for travellers who are here for work or on holiday, the property will be an ideal option for short-term or long-stay guests who want the flexibility of being able to do business in Al Khobar or explore the city at leisure from the comfort of  a serviced apartment that combines top-notch service with stylish and contemporary design. What's more, visitors can enjoy a balanced lifestyle thanks to the property's range of recreational options, whether it is dining in the restaurant or relaxing amidst the health and leisure facilities," he added.

www.the-ascott.com

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