Ascott Targets Major Expansion in MENA with Focus on UAE and Saudi Arabia
Aligning with its target of 10,000 units by 2025, Ascott will introduce over 5,500 new units with a focus on the UAE and Saudi Arabia.
2 min
The Ascott Limited, a leading lodging owner and operator, has announced significant expansion initiatives aimed at enhancing its presence in the Middle East, North Africa, and Turkey (MENA) regions. The company plans to capitalize on its internationally recognized brands, including Ascott The Residence, Somerset, and Citadines, to bolster its market presence in these key Gulf nations.
“With the burgeoning demand for serviced residences in the region, we have implemented a strategic phased expansion with new Ascott brand introductions that cater to dynamic market preferences across the luxury and lifestyle segments,” Vincent Miccolis, Managing Director of Middle East, Africa, India and Türkiye at The Ascott Limited, said on the sidelines of Arabian Travel Market in Dubai.
Expansion and Innovation
This strategic expansion within Saudi Arabia is designed to align with Saudi Vision 2030, which aims at economic diversification and a transformation of the travel sector. As the leisure industry grows, Ascott is preparing to fulfill the increasing demand for high-end accommodations, offering personalized and in-depth experiences that go beyond conventional hotels.
By the fourth quarter of 2024, Ascott plans to introduce 90 luxury villas at Ascott Villas Riyadh, in line with the country’s ambitious plans for its hospitality sector. Additionally, the company will launch new living concepts under its brands such as lyf, The Crest Collection, The Unlimited Collection, Oakwood, and Oakwood Premiere, addressing a wide range of travel preferences.
Ascott also intends to penetrate new markets such as Kuwait and Egypt while expanding its foothold in existing markets like Oman and Bahrain. The company is also targeting the addition of 1,000 units in strategic African hubs like Morocco and Kenya, as well as in the Turkish locales of Izmir and Bodrum.
“Ascott will expand its offerings beyond serviced apartments, to hotels, co-living spaces, and more,” Miccolis revealed. Ascott will focus on expanding food and beverage offerings through a new Regional F&B Division. This will develop trendy cafes and upscale dining concepts reflecting local cultures and global standards of excellence and sustainability.
Its innovative Hotel-in-Residence model merges the comforts of home with premium hotel services, thus maximizing asset use, diversifying revenue streams, and boosting guest satisfaction. This model appeals to digital nomads, business travelers, and families who value flexibility and space.
“With flexibility embedded into all Ascott properties, we are poised to cement our leading position in the region to offer unique and luxurious accommodations that meet the evolving needs of the modern traveller,” Miccolis said.
The expansion demonstrates Ascott’s robust commitment to growth, innovation, and redefining hospitality across the dynamic MENA region.
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The G80 Sport makes its entrance, displaying dynamic design details and elevated automative capabilities.
2 min
Juma Al Majid LLC, the exclusive dealer for Genesis in the UAE, has launched the G80 – a cutting-edge luxury sedan. Merging tradition with innovation, this model embodies Genesis‘ relentless pursuit of superior design, state-of-the-art technology, and unmatched luxury.
The new G80 marks a significant milestone in introducing Korean automotive excellence to the UAE, highlighting the brand’s commitment to providing exceptional experiences.
Meticulously crafted, the redesigned G80 adheres to the ‘Athletic Elegance’ design philosophy synonymous with Genesis. This luxury vehicle features refined details and cutting-edge specifications, combining comfort and style to elevate every driving experience to new heights.
“The debut of the all-new G80 in the UAE market propels our vision to converge advanced technology and refined elegance”, stated Suliman Al Zaben, Director of Genesis, UAE. “This launch is a step forward for Genesis in the UAE market and strengthens our efforts to offer ultimate luxury, innovation, and unique design to our incisive customer base.”
With a new dual-mesh design, the G80’s exterior enhances the sophisticated appearance of the Two-Line Crest Grille, paired with iconic Two-Line headlamps featuring Micro Lens Array (MLA) technology. This highlights Genesis’ commitment to harmonizing advanced technology with elegant design. The five 20-inch double-spoke wheels exude a dynamic aesthetic, resembling sleek aircraft lines, complementing the car’s parabolic side profile. Rear diffusers conceal mufflers adorned with distinctive V-shaped chrome trim inspired by the Crest Grille, embodying an eco-conscious ethos in today’s technology-driven era.
The G80 reinforces Genesis’ design philosophy in its interiors, inspired by the uniquely Korean concept of the Beauty of White Space, integrated with state-of-the-art technology to create cosmetic brilliance for users. The 27-inch-wide OLED display seamlessly combines the cluster and AVN (Audio, Video, Navigation) screen in a horizontal layout, extending to the center fascia, showcasing its flair for innovative technology. The touch-based HVAC (Heating, Ventilation, and Air Conditioning) system offers ease of control, while the redesigned crystal-like Shift By Wire (SBW) ensures a comfortable grip, infusing a sense of luxurious convenience.
With its dual-layered Crest Grille and expanded air intakes, the G80 Sport package delivers a dynamic and sporty spirit. Exclusive interior options, such as a D-cut steering wheel and carbon accents, enhance its sporty allure. Equipped with Rear Wheel Steering (RWS) and Electronic Limited Slip Differential (E-LSD), the G80 Sport 3.5 twin turbo model is built for stable control during high-speed maneuvers.
Fitted with advanced safety and convenience features, this luxury sedan includes Remote Smart Parking Assist 2, Lane Following Assist 2, and a Fingerprint Authentication System. The three-zone HVAC system provides customized climate control for all passengers. With two powertrain options – a 2.5 turbo engine delivering 300 horsepower and 43.0 kgf·m of torque, and a 3.5 twin turbo engine producing 375 horsepower and 54.0 kgf·m of torque – superior driving dynamics ensure a silent and luxurious driving experience.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
