Ascott announces KSA expansion plans

George Sell George Sell Uploaded 30 April 2019


KSA: Ascott announced its MEA expansion plans at the Arabian Travel Market, with Saudi Arabia its top pipeline destination in the region over the next two years.

Ascott currently has five operating properties in the Kingdom, with the next set to open this year.

Ascott Corniche Al Khobar, scheduled to open in Q3 this year, will add 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.

Looking ahead, 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," said Vincent Miccolis, Ascott's Regional GM for Middle East, Africa and Turkey. "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. 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 Saudi Arabia 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.


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