Tourism & Hospitality | Monday 13 April, 2015 1:11 pm |

Citadines Culture Village Dubai to open in 2017

CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has secured a contract to manage its first Citadines Apart’hotel in the United Arab Emirates (UAE). Citadines Culture Village Dubai, which is slated to open in 2017, is Ascott’s third serviced residence in Dubai. This follows the addition of Ascott Culture Village Dubai announced in October 2014.

The latest addition will strengthen Ascott’s portfolio in the Gulf Co-operation Council (GCC) and Turkey to more than 2,150 apartment units across 14 properties in six countries - Bahrain, Qatar, Oman, Saudi Arabia, the UAE and Turkey.

Mr Tony Soh, Ascott’s Chief Corporate Officer and Head of the GCC and Turkey region, said, “The launch of our Citadines brand supports the growing demand from independent travelers who prefer the flexibility to choose the services they want as compared to luxury hotels that offer full services. Citadines Apart’Hotel is one of Ascott’s fastest growing brands, with more than 50 properties in 19 countries across Asia Pacific, Europe and the Gulf region.”

Mr Soh added, “According to data released from STR Global, the Middle East’s hospitality market is the fastest growing in the world. The UAE and Saudi Arabia account for 70% of rooms in the region’s pipeline and we see great potential in this market for further growth.”

The management agreement for Citadines Culture Village Dubai was awarded to Ascott by Sheikh Fahad Abdulrahman Abdulaziz Thunayan, President and Chairman of Saudi Technical Trading and Contracting Co.

“We are extremely pleased to enter into this management agreement with Ascott, internationally renowned for its brands, management and service excellence. Our confidence in their premier management experience for Citadines Culture Village Dubai serves our overall strategy to grow into Dubai’s hospitality sector,” said Sheikh Fahad Abdulrahman Abdulaziz Thunayan.

Citadines Culture Village Dubai

Citadines Culture Village Dubai, strategically located in Culture Village, is a fully integrated planned community alongside the shoreline of Dubai Creek between Al Garhood Bridge and the new Business Bay Bridge.

Culture Village is set to become the artistic and cultural hub of Dubai, featuring residential, retail and commercial developments including schools, art galleries, performing arts centres, museums, restaurants and designer boutiques in a setting of waterways, bridges and parks.

Residents can choose from a range of studios and one bedroom apartments, fully equipped with kitchens, living areas and separate workspaces. Guests can enjoy an array of amenities such as a swimming pool, fully equipped gymnasium, breakfast lounge, residents’ lounge and internet corner to cater to their work and recreational needs.

Ascott will open its first properties in Saudi Arabia, Ascott Tahlia Jeddah, Ascott Sari Jeddah and Citadines Al Salamah Jeddah, as well as its first property in Oman, Somerset Panorama Muscat, in 2015. In addition, Ascott is scheduled to open Ascott Olaya Riyadh, Somerset Corniche Jeddah and Somerset Maslak Istanbul in 2016. Ascott currently manages four serviced residences in the GCC - Ascott Park Place Dubai, Ascott Doha, Somerset West Bay Doha and Somerset Al Fateh Bahrain.


About The Ascott Limited

The Ascott Limited is a Singapore company that has grown to be the world's largest international serviced residence owner-operator. It has over 26,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as over 13,000 units which are under development, making a total of more than 39,000 units in over 200 properties.

The company operates three award-winning brands – Ascott, Citadines and Somerset. Its portfolio spans 90 cities across 25 countries, 22 of which are new cities in Ascott’s portfolio where its serviced residences are being developed.

Ascott, a wholly-owned subsidiary of CapitaLand Limited, pioneered Asia Pacific’s first international-class serviced residence with the opening of The Ascott Singapore in 1984. In 2006, it established the world’s first Pan-Asian serviced residence real estate investment trust, Ascott Residence Trust. Today, the company boasts over 30 years of industry track record and award-winning serviced residence brands that enjoy recognition worldwide.

Ascott’s achievements have been recognised internationally. Recent awards include World Travel Awards 2014 for ‘Leading Serviced Apartment Brand’ and ‘Leading Serviced Apartments’ in Belgium, France, Germany, Indonesia, the Philippines, Singapore, Thailand and Vietnam, Business Traveller Asia-Pacific Awards 2014 for ‘Best Serviced Residence Brand’ and ‘Best Serviced Residence’, Business Traveller UK Awards 2014 for ‘Best Serviced Apartment Company’, Business Traveller China Awards 2014 for ‘Best Serviced Residence Brand’ and ‘Best Serviced Residence’, TTG China Travel Awards 2015 for ‘Best Serviced Residence Operator in China’ and DestinAsian Readers’ Choice Awards 2015 for ‘Best Serviced Residence Brand’.

Visit www.the-ascott.com for more information and connect with us on social media at www.the-ascott.com/connect.

About CapitaLand Limited

CapitaLand is one of Asia’s largest real estate companies headquartered and listed in Singapore. The company leverages its significant asset base, design and development capabilities, active capital management strategies, extensive market network and operational capabilities to develop high-quality real estate products and services. Its diversified global real estate portfolio includes integrated developments, shopping malls, serviced residences, offices and homes. Its two core markets are Singapore and China, while Indonesia, Malaysia and Vietnam have been identified as new growth markets. The company also has one of the largest real estate fund management businesses with assets located in Asia.

CapitaLand’s listed real estate investment trusts are Ascott Residence Trust, CapitaCommercial Trust, CapitaMall Trust, CapitaMalls Malaysia Trust and CapitaRetail China Trust.