Ascott boosts KSA portfolio with new Alkhobar property

Citadines Al-Aziziyah Alkhobar will feature 36 studio apartments, 25 one-bedroom apartments and 30 two-bedroom apartments, as well as a 157-square-meter penthouse.
Updated 14 April 2019
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Ascott boosts KSA portfolio with new Alkhobar property

The Ascott Limited, the world’s largest serviced-residence owner-operator, has announced a new signing that will join its growing portfolio in Saudi Arabia: Citadines Al-Aziziyah Alkhobar. The property is set to open in late 2021 and will be Ascott’s seventh residence in the Kingdom and its third in Alkhobar.
The 92-unit residence is under construction on King Khalid Road in the Al-Aziziyah district to the south of the city. The location benefits from convenient transport links: King Khalid Road is the city’s main arterial highway, while the nearby King Fahd Causeway links Saudi Arabia with Bahrain. Dammam railway station is a short drive away and connects the Eastern Province to the Saudi capital, Riyadh.
Citadines Al-Aziziyah Alkhobar will feature 36 studio apartments, 25 one-bedroom apartments and 30 two-bedroom apartments, as well as a 157-square-meter penthouse. Facilities will include a residents’ lounge, swimming pool and gym, and a three-story adjacent car park for visitors’ use. Guests will also be within easy reach of the neighborhood’s public beaches, restaurants, shops and recreational facilities, including Half Moon Bay and Alkhobar Corniche.
“We are very pleased to announce details of our latest serviced residence in Saudi Arabia, in partnership with Nebras Tourism Company,” said Vincent Miccolis, Ascott’s regional GM for Middle East, Africa and Turkey. “In the four years since we launched our first property in Saudi Arabia, we’ve established a market-leading presence with an expanding portfolio of international-standard properties in key destinations.”
Al-Saggaf, GM of Nebras Tourism Company, said: “We are delighted to partner with The Ascott Limited, the leading serviced-residence operator in Saudi Arabia today, and introduce the Citadines brand into Alkhobar.”
“Saudi’s oil-rich Eastern Province is a key metropolitan region with Alkhobar as one of its fastest growing cities,” said Miccolis. “Citadines Al-Aziziyah Alkhobar will appeal to both business and leisure travelers who seek modern comforts, business connectivity and customized services. Furthermore, the property’s impressive amenities will appeal to long- and short-term visitors who enjoy the convenience and flexibility of a centrally located serviced apartment.”
Saudi Arabia represents an important growth territory for Ascott over the next few years, with further openings in the pipeline across the Kingdom.
The Ascott Limited is a Singapore company with more than 58,000 operating units in key cities of the Americas, Asia Pacific, Europe, the Middle East and Africa, as well as more than 42,000 units under development, making a total of more than 100,000 units in more than 660 properties.
The company’s serviced-residence and hotel brands include Ascott, Citadines, Somerset, Quest, The Crest Collection, lyf, Harris, Fox Harris, Yellow, Pop!, Préférence and Harris Vertu. Its portfolio spans more than 170 cities across more than 30 countries.


Top CEO Conference & Awards wraps up in Bahrain

Updated 17 April 2019
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Top CEO Conference & Awards wraps up in Bahrain

The Top CEO Conference & Awards 2019, organized by TRENDS magazine — Mediaquest and international business school INSEAD, has concluded at the Al-Areen Palace and Spa in Bahrain. The event, held on Thursday, included seven key panel discussions under the theme “Growth in a Volatile Future” as well as the Top CEO Awards 2019 ceremony, which recognized the region’s most successful and trendsetting CEOs from more than 700 companies listed on GCC stock exchanges.

Top business leaders and more than 30 speakers from across the GCC shed light on the Middle East’s dynamic but volatile region and the burning issues facing the corporate world today. This year’s theme focused on a score of relevant issues, such as oil price fluctuations, tech disruptions, armed and political schisms that pose new risks, and opportunities. Speakers such as renowned economist Professor Nouriel Roubini provided growth solutions and road maps for businesses in the GCC region.

Alexandre Hawari, CEO of Mediaquest, said: “In its fifth edition, the Top CEO Conference & Awards fully encapsulated the theme of ‘Growth in a Volatile Future’ by acknowledging and exploring the growth transformation that the region is undergoing through digitalization and the fourth industrial revolution amid geopolitical tensions, looming trade wars and a rapidly evolving business environment. Building on the huge success of the previous years, the Top CEO Awards 2019 recognized CEOs and companies who have raised the bar by navigating challenges, implementing new strategies, and have demonstrated unquestionable growth, profitability and excellence in corporate governance.”

The conference kicked off with an opening keynote from Jassim Al-Seddiqi, CEO of the Abu Dhabi Financial Group and chairman of GFH Financial Group, who delved into the potential of transforming the region into a fintech hub and the importance of jumping on the digital bandwagon. 

The prime panel discussion on the “Future of Growth Amid Volatility” brought together five CEOs who explored methods to create future-proof strategies that can not only tackle challenges but also boost growth in a tough geopolitical and economic climate. 

Hisham Al-Rayes, CEO and board member of the GFH Financial Group, said: “Investing in the future in areas such as fintech, education and technology, the foundations for strong, enduring knowledge-based economies, is a priority for the group and the governments of the region in which we invest.”

“The Blockchain Opportunity” and “The Human Factor and Tech Innovation” panels brought together industry experts from Facebook, the Bahrain FinTech Bay and King Abdul Aziz University. 

“The Future of Women’s Business Leadership” panel discussed positive strides taken by GCC governments and businesses in leveling the playing field for women professionals.