Ascott Expands Presence In Gulf Region With Its Flagship Premier Property In Bahrain
Released on: October 19, 2008, 11:00 pm
Press Release Author: Celina Low
Industry: Consumer Services
Press Release Summary: Ascott Bahrain by renowned architect Rafael Violy pips growing Gulf portfolio
Press Release Body: Singapore, 8 October 2008 - CapitaLand's wholly-owned serviced residence unit, The Ascott Group (Ascott), has been awarded a contract by Raffles City Bahrain Fund to manage a 200-unit serviced residence in Manama City, Bahrain. The serviced residence, named Ascott Bahrain, will be the Group's first flagship property in the Gulf region to be operated under its premier Ascott brand. Scheduled for opening in 2011, Ascott Bahrain will be Ascott's second serviced residence in Bahrain and its fourth in the Gulf region. With the addition of Ascott Bahrain, Ascott will have 602 units in four serviced residences in the Gulf region. Ascott currently operates Somerset Al Fateh, Manama in Bahrain, Somerset West Bay, Doha in Qatar and Somerset Jadaf, Dubai in the United Arab Emirates. Ascott Bahrain, a premier serviced residence, will be part of Raffles City Bahrain, CapitaLand's integrated lifestyle development comprising three residential towers, landscaped sky villas, high-end retail, and food and beverage facilities. Designed by renowned international architect, Rafael Violy, the iconic Raffles City Bahrain is situated in a prime waterfront location within Bahrain Bay. The bay area has been slated to be the new city centre of the Kingdom of Bahrain. Mr Gerald Lee, Ascott's Deputy CEO (Operations) said: "Ascott has been growing its presence in the Gulf region, particularly in the key cities of the Gulf Cooperation Council (GCC) countries of Bahrain, Qatar and United Arab Emirates. With the increasing demand for international class accommodation by expatriates and business travellers, we will continue to expand our presence in the Gulf region. With Ascott Bahrain, we now offer another deluxe accommodation to better serve our customers. Bahrain Bay is a strategic area for us to anchor our flagship Ascott brand due to its prime location." Ascott Bahrain will be a landmark development in Manama City. It will provide guests an exclusive waterfront living experience with a beautiful view of Manama's skyline. Since the opening of Somerset Al Fateh in April last year, the Group's first property in Bahrain, it has been seeing strong occupancy of about 80%. Having two properties in Bahrain will further allow better operational synergies.
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