CapitaLand’s serviced residence unit, Ascott Limited, has expanded its presence in Doha, Qatar with the opening of the 229-unit Ascott Doha (pictured), reported The Business Times.
“We see strong demand for serviced residences in Qatar…Our first serviced residence in Qatar, Somerset West Bay Doha, has been achieving occupancy of over 80 percent,” said Vincent Wee, Managing Director for India and Gulf Cooperation Council at Ascott.
Ascott Doha comprises studios and one- to three-bedroom apartments. With this new foray, the company now has more than 1,000 apartments in six properties across four countries in the Gulf region.
Ascott will also launch properties in Oman in two years – Sohar Garden Residences and Somerset Panorama Muscat. Moving forward, it aims to establish new partnerships in the region, including Bahrain, Qatar, Oman, UAE and Saudi Arabia, added Wee.
Ascott also manages Somerset Al Fateh in Bahrain and Ascott Park Place in Dubai.
Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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