The Ascott signs second Dubai serviced residences

Serviced residence operator The Ascott Limited has signed a management agreement for its second property in Dubai, set to open in 2017.

The 117-key Ascott Culture Village Dubai, which is being developed by Rhodi Real Estate, will be located along the shoreline of Dubai Creek.

Residents will be able to choose from a range of studios, one-, two- and three-bedroom apartments at the serviced residence, which also offers facilities such as a swimming pool, fully-equipped gymnasium and restaurant.

“We have been witnessing a growing demand for luxury serviced residences in Dubai as our first property in Dubai, Ascott Park Place, has been achieving occupancies of over 80%,” said Ascott head for the GCC Sym Lee.

“Having another premier Ascott-branded serviced residence will allow us to cater to the need for quality and luxurious serviced apartments and increase our presence in this cosmopolitan city.”

The signing of this latest property follows on from the addition of two serviced residences in Jeddah to its Saudi Arabia pipeline in July.

It will bring Ascott;s overall portfolio to 1800 apartment units under contract across 12 properties in Bahrain, Qatar, Oman, Saudi Arabia and the UAE

Rhodi Real Estate managing director Feroz Bux said: “With Ascott’s 30 years of experience in providing expatriates and travellers with a home away from home, we are confident that Ascott Culture Village Dubai will well meet the market’s demand for exclusive living in spacious, expertly furnished and secure serviced apartments with personalised services.”