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51114 14 Jan 2021

Ascott Announces Second Property in Qatar

Leading international lodging owner-operator gears up for a positive start to the year, with the signing of its first franchise property in Doha, Qatar

Middle East, January 2021: The Ascott Limited (Ascott) has entered into a franchise agreement with Al Majed Hotel Management WLL, a subsidiary of Al Majed Group Holding, recently announcing the signing of its newest property, Somerset Al Mansoura Doha, set to open in Qatar's capital in Q4 2021.

The new serviced residence marks the group's second property in the country under the name of "Somerset Al Mansoura Doha", and will operate as a franchised property, in partnership with Al Majed Group Holding, a family business established in 1943.

Mr. Vincent Miccolis, Ascott's Regional General Manager for the Middle East, Africa, Turkey India, says: "We are delighted to sign the franchise agreement with Al Majed Hotel Management WLL, to develop Somerset Al Mansoura Doha in one of the city's most prominent central districts. Doha is a modern and thriving city with rapidly developing infrastructure and progressive architecture, and we are confident that this new property under our award-winning Somerset brand of serviced apartments will provide exclusive extended-stay offerings for business and leisure travellers."

Located in the lavish Al Mansoura district, the property will comprise 158 keys, including 59 spacious two-bedroom units and 99 upscale one-bedroom units, across a total built-up area of 29,344 square metres. Each room is beautifully decorated, with fully equipped separate living and dining areas, kitchenettes and more.

Standing seven storeys high, the newly built hotel apartment block features a uniquely classic design which, when viewed from the top, resembles the shape of a boat. It will benefit from its prime location, which is in close proximity to the metro station, parks, restaurants, shopping centres and schools, and is just a 20-minute drive to/from Hamad International Airport. The ideal property for both short- and long-stay guests, facilities will include a gymnasium, residents lounge, retail outlets and a 24-hour coffee shop.

Al Majed Group Holding CFO VPA, Jacob V Jacob said, "We are honoured to sign the franchise agreement with one of the leading international lodging owner-operators, to develop Somerset Al Mansoura in Doha. Ascott is a reputed global brand and our association will ensure that Somerset Al Mansoura offers the best of serviced apartments in the country. Located in the heart of Doha, Somerset Al Mansoura serviced apartments are designed to provide the utmost in comfort and convenience with a range of leisure and recreation facilities. We are sure that guests will experience the true essence of Qatari hospitality blended perfectly with Ascott authenticity at Somerset Al Mansoura in Doha."

Ascott continues to accelerate its worldwide expansion and aims to reach its global target of 160,000 units by 2023 via a combination of strategic alliances, management contracts, franchises and investments. The groups worldwide footprint currently extends to more than 190 cities across 30 countries, totalling 118,000 units in over 760 properties.

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About The Ascott Limited

The Ascott Limited is a Singapore company that has grown to be one of the leading international lodging owner-operators. Ascotts portfolio spans more than 190 cities across over 30 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa and the USA.

Ascott has more than 69,000 operating units and over 49,000 units under development, making a total of more than 118,000 units in over 760 properties.

The company's serviced residence and hotel brands include Ascott The Residence, The Crest Collection, Somerset, Quest, Citadines, lyf, Preference, Vertu, Harris, Citadines Connect, Fox, Yello and POP!.

Ascott, a wholly owned subsidiary of CapitaLand Limited, pioneered Asia Pacific's first international-class serviced residence with the opening of The Ascott Singapore in 1984. Today, the company boasts over 30 years of industry track record and award-winning brands that enjoy recognition worldwide.

Ascott's achievements have been recognised internationally. Recent awards include World Travel Awards 2020 for 'Leading Serviced Apartment Brand'in Asia and Europe; Business Traveller Award 2020 for 'Best Serviced Residence Brand' in Asia-Pacific and the Middle East; DestinAsian Readers' Choice Awards 2020 for 'Best Serviced Residence Brand'; World Travel Awards 2019 for 'Leading Serviced Apartment Brand' in Asia, Europe and the Middle East; Business Traveller China Awards 2019 for 'Best Luxury Serviced Residence Brand'; and TTG China Travel Awards 2019 for 'Best Serviced Residence Operator in China'.

For a full list of awards, please visit https://www.the-ascott.com/ascottlimited/awards.html.

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About CapitaLand Limited

CapitaLand Limited (CapitaLand) is one of Asia's largest diversified real estate groups. Headquartered and listed in Singapore, it owns and manages a global portfolio worth about S$134.7 billion as at 30 June 2020. CapitaLand's portfolio spans across diversified real estate classes which includes commercial, retail; business park, industrial and logistics; integrated development, urban development; as well as lodging and residential. With a presence across more than 220 cities in over 30 countries, the Group focuses on Singapore and China as its core markets, while it continues to expand in markets such as India, Vietnam, Australia, Europe and the USA.

CapitaLand has one of the largest real estate investment management businesses globally. It manages six listed real estate investment trusts (REITs) and business trusts as well as over 20 private funds. CapitaLand launched Singapore's first REIT in 2002 and today, its stable of REITs and business trusts comprises CapitaLand Integrated Commercial Trust, Ascendas Real Estate Investment Trust, Ascott Residence Trust, CapitaLand Retail China Trust, Ascendas India Trust and CapitaLand Malaysia Mall Trust.

CapitaLand places sustainability at the core of what it does. As a responsible real estate company, CapitaLand contributes to the environmental and social well-being of the communities where it operates, as it delivers long-term economic value to its stakeholders.

Visit www.capitaland.com for more information.

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About Al Majed Group Holding

Al Majed Group Holding started in 1943 by Mr. Ali Al Majed, a young pearl trader with a courageous spirit of entrepreneurship and ambition and became one of the most prominent pearl traders in the Gulf. His son, Mahdi took most after his father, setting sail on his own and trading in the most appealing of pearls. When oil was discovered in the 1940's and a new era of prosperity began in Qatar, Mahdi established Al Majed Jewellery LLC which expanded to include jewelleries from the best designers in Europe and became a centre of attraction for all branded jewellery and luxurious watch seekers in Qatar.

Today, the three sons of Mahdi, Ahmad, Mohammed and Jamil handle the family business with great honour and dedication and have enhanced the business image and services. The company has now diversified into various industries and the business are managed under the Al Majed Group Holding.

Al MajedHotel Management WLL, a subsidiary of Al Majed Group Holding having interest inHotel operation, Hotel acquisition, Hotel franchising and FB operations. Al Majed Hotel Management WLL own prominent properties managed by well-known international brands and established alliance with International Hotel Groups for the upcoming Hotel projects.

Visit www.almajedgroup.me for more information.