What you must know about Ascott's first serviced residence in Saudi Arabia

The 230-unit project will open in 2015.

According to a release, Ascott Limited has entered Saudi Arabia by securing a management contract for its first premier serviced residence in Riyadh. The 230-unit Ascott Olaya Riyadh is slated to open near the King Abdullah Financial District in 2015.

The management contract was awarded by Rafal Real Estate Development (RAFAL), the leading real estate development company in Saudi Arabia.

The addition of Ascott Olaya Riyadh will increase Ascott’s portfolio in the Gulf Cooperation Council (GCC) to almost 1,300 serviced apartment units across seven properties in Bahrain, Oman, Qatar, Saudi Arabia and the United Arab Emirates.

Ascott Olaya Riyadh is just five minutes from the highly anticipated King Abdullah Financial District. Touted as the new financial centre of Riyadh, the district will be home to the GCC Central Bank headquarters, the Capital Market Authority and the Saudi stock bourse, Tadawul.

The King Abdullah Financial District will also be a hub for financial and legal institutions, accounting and consultancy firms and other business service providers. Ascott Olaya Riyadh provides easy access to a wide variety of restaurants, shops and other conveniences nearby.

Guests can choose from a mix of studio, one or two-bedroom apartments to suit their lifestyle needs. Each elegantly-designed apartment will come with a fully-equipped kitchen, separate work and sleeping areas as well as a host of other modern amenities.

Business travellers can make use of the serviced residence’s meeting rooms, business centre and other business support services. A health club, comprising a gymnasium, steam room and swimming pool will be available for residents to unwind after a long day.

In the GCC, Ascott currently manages Ascott Park Place Dubai, Ascott Doha, Somerset West Bay Doha and Somerset Al Fateh Bahrain. Ascott is also slated to open its first properties in Oman, Somerset Panorama Muscat and Sohar Garden Residences, by 2014.

Join Singapore Business Review community
Join Singapore Business Review community
A NOTE FROM SINGAPORE BUSINESS REVIEW

You're the reader we write for. You're also the person our partners want to reach.

If that sentence describes you — a founder, a C-suite, someone whose attention companies pay good money for — then you already understand why SBR works. We've spent twenty years earning the trust of readers exactly like you. Which is exactly what makes this an interesting place for your company to show up, too.

The ways it can show up are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The right fit depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If your company has something this audience should know about, we'd like to hear what you're working on.

No rate cards until we understand the brief. It's a better use of everyone's time.

Top News

30 One-Sentence Stories From People Who Have Built Better Habits
None of these stories are mine. They were sent to me by readers of Atomic Habits. My hope is that these examples will illustrate how real people are putting the book into practice. They will show you what people are actually doing to build good habits and break bad ones. And hopefully, they will spark some ideas for how you can do the same.
SBR 5 Lorem Ipsum News 2 [8 May]
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
SBR 4 Lorem Ipsum [8 May Top Stories]
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

Exclusives

How Experts Figure What to Focus On
eliminate the distractions. Commit to one thing and become great at that thing.”
Exclusive three SBR 12 Lorem Ipsum [8 May]
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
SBR 3 Lorem Ipsum [ Exclusive 2]
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

Event News

Video [Event News]
Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley