Serviced apartment operator Ascott Limited has signed a management contract for its first residence in Saudi Arabia, located near Riyadh’s financial district.
Ascott has also signed for two new properties in China, the 134-room Ascott Central Wuxi and the 169-room Somerset Wuxi. All three properties are due to open late 2015.
The Ascott Olaya Riyadh (below) will contain a mix of 230 studio, one- and two-bedroom apartments, and will be located five minutes from the new King Abdullah Financial District. Other facilities will include meeting rooms, a business centre and a health club with a gym, steam room and swimming pool.
Chong Kee Hiong, Ascott’s chief executive officer, said: “Ascott has steadily grown from Singapore to over 70 cities worldwide and our entry into Saudi Arabia marks yet another milestone for us.”
Ascott Central Wuxi will be located in the Chong An District of the city, and will have direct connections to the new metro lines one (opens June 2014) and two (opens at the end of 2015).
Somerset Wuxi will be located in the Bin Hu District, near Wuxi’s city centre, offering views of the Beijing-Hangzhou Grand Canal.
Both Wuxi properties will offer everything between studios to three-bedroom apartments, each with kitchen, working and sleeping areas. Both properties will have a gym, business centre, meeting room and breakfast and residence lounges.
Ascott introduced free wifi across its portfolio for all guests earlier this year (see online news April 5).
For more information visit the-ascott.com.
Report by Scott Carey