Ascott Reveals Saudi Arabia as Top Middle East Pipeline Destination at ATM

Arabian Travel Market, the Middle East’s leading travel and tourism exhibition, The Ascott Limited (Ascott) has revealed its continuous and tenacious Middle East, Africa and Turkey expansion plans; confirming today that KSA is a top pipeline destination in the region over the next two years.

Ascott currently have five operating serviced residence 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, 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 3km from the serviced residences, while the Al Khobar-Bahrain Causeway is a 10-minute drive. 

Looking ahead, four new Ascott properties are in the KSA pipeline for 2020: Somerset Downtown Al Khobar, Ascott Villas Riyadh, Somerset Corniche Jeddahand 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,” comments 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.” 

As the Kingdom diversifies its economy in line with the Saudi Vision 2030, Miccolis says they’re seeing strong demand for Ascott’s 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 adds.

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 ofSomerset 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.

Further cementing the brand’s success in the region, Ascott has been awarded three of the top accolades at the annual World Travel Awards 2019.  The world’s largest serviced residence owner-operator received two leading accolades Middle East’s Leading Serviced Apartment Brand 2019 for the fourth consecutive yearand Saudi Arabia’s Leading Serviced Apartment Brand 2019 for the third consecutive year.  Ascott Sari Jeddah was named as Saudi Arabia’s Leading Serviced Apartments 2019 for the second consecutive year.  

The Ascott Limited will be exhibiting at ATM Dubai 2019, at stand HC1120, between 28th April and 1st May 2019.