Ascott Limited, CapitaLand’s serviced residence business unit, will operate Citadines Culture Village Dubai, slated to open in October 2017.
It will be Ascott’s first Citadines Apart’hotel in the UAE, and third serviced residence in Dubai. Moreover, the latest addition will strengthen Ascott’s portfolio in the 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.
Ascott’s chief corporate officer and head of the GCC and Turkey region Tony Sohsaid said: “The launch of our Citadines brand supports the growing demand from independent travellers 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.
“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.”
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Saudi Technical Trading and Contracting Co. president and chairman Sheikh Fahad Abdulrahman Abdulaziz Thunayan added: “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.”
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