The Ascott Ltd (Ascott), CapitaLand’s wholly-owned subsidiary, has secured a deal to manage a 229-unit premier serviced residence in Doha.
Ascott Doha will be the company’s second property in the capital city of Qatar and is set to open in the second half of this year.
“Qatar offers tremendous potential for Ascott, as it is one of the fastest growing countries in the world, due to its huge oil and gas reserves,” said Mr. Ronald Tay, Chief Investment Officer of The Ascott Limited.
The property is located at the centre of Doha’s diplomatic district and offers spectacular views of the Arabian Gulf. It is also situated near the City Centre Mall, one of Qatar’s popular entertainment and retail destinations.
Units offered in the residence include one-, two- and three-bedroom apartments, with each unit equipped with a kitchen, en-suite bathrooms, separate living and work areas and other modern amenities.
Residents can also enjoy facilities such as two large swimming pools, a Jacuzzi, sauna and steam room, gymnasium, salon and café.
With Ascott Doha, Ascott will manage a total of 865 units in five serviced residences across three cities in the Gulf region.
“Having a second serviced residence (first one being the Somerset West Bay) in Doha will allow us to cater to the strong demand for quality accommodation from the influx of business and leisure travellers,” said Mr. Tay.
“Besides strengthening our presence in Qatar, Bahrain and the United Arab Emirates, we continue to actively look for opportunities in Kuwait, Oman and Saudi Arabia.”
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