19 Jul

The Ascott Group Opens Its First Serviced Residence In The Middle East - Somerset Jadaf, Dubai

Singapore, 19 July 2006 – The Ascott Group officially opened its first serviced residence, Somerset Jadaf, Dubai in the Middle East today. The 84-unit property is located in a prime location in Jadaf area, a 15-minute drive from Dubai International Airport and it is close to the central business districts and the Dubai World Trade Centre. The property is also a 10-minute drive from Wafi City, a premier shopping and dining destination.

Mr Lim Chin Beng, The Ascott Group’s Chairman, said: “The Ascott Group is one of the first international serviced residence companies to operate in the Middle East. As the world’s largest international serviced residence owner-operator outside of the United States with properties in 43 cities in Asia Pacific, Europe and the Middle East, we will bring premium quality serviced residences of world class standards to the region.”

Mr Liew Mun Leong, The Ascott Group’s Deputy Chairman, and President and CEO of its parent company CapitaLand Group said: “The Ascott Group will increase its presence in the Middle East given the tremendous business opportunities, strong government support, increasing foreign investments, and growing expatriate community.”

“The opening of Somerset Jadaf in Dubai is part of Ascott's expansion plans to have about 15 serviced residences by 2010, in key gateway cities in the Middle East countries including Bahrain, the United Arab Emirates, Qatar, Kuwait and Saudi Arabia,” added Mr Liew.

Mr Cameron Ong, The Ascott Group’s Managing Director and CEO said: “The Ascott Group has chosen Dubai as the entry point to launch the first property in the Middle East because of Dubai’s strong economic growth, the concentration of key businesses and a relatively limited supply of serviced residences. Statistics from Dubai’s Department of Tourism and Commerce Marketing show that there are about 20 deluxe hotel apartment properties in Dubai and the occupancy level is about 80%. This is a clear indication of the growth potential for premium quality accommodation and we believe that there will be more opportunities for expansion.”

“Wafi Group has a reputation for innovation and quality in Dubai, and our relationship with The Ascott Group has created another “first”, as we introduce the award winning Somerset brand to the Middle East,” said Ian Wiedersheim, Managing Director of Wafi Group.

Somerset Jadaf, Dubai is owned by Wafi Group, a multi-industry conglomerate with businesses including property asset management; hospitality and lifestyle services; and manufacturing and transportation. It also owns Wafi City which is best known for its varied range of shops, restaurants and cafes, spa, and lively nightlife establishments including the Pyramids complex, Cleopatra’s Spa, Pharaohs’ Club, the Planet Hollywood complex as well as the Wafi City Mall – one of Dubai’s most exclusive shopping and dining attractions.

More about Somerset Jadaf, Dubai
Located in the fast-developing Jadaf area which has been earmarked for phase II development of Dubai Healthcare City, Somerset Jadaf, Dubai is a 5-minute drive from the famous Dubai Creek, a developing watersport recreation belt. Besides a prime location, Somerset Jadaf, Dubai offers business executives and their families personalised services and facilities with the spacious comfort and security of a private residence. It is the perfect home for business executives on project assignments or those with families who want hassle free relocation.

Comfort of a home
Residents at Somerset Jadaf, Dubai can choose from a wide range of stylish fully–furnished studio, one, two and four–bedroom apartments. Executives travelling with family members can also request for two units of two-bedroom apartments to be converted into one four-bedroom apartment. Each apartment unit is elegantly furnished with a fully-equipped modern kitchen, a living/dining room, home entertainment system and contemporary fittings.

Personalised services
Somerset Jadaf, Dubai offers a range of services including daily housekeeping, complimentary continental buffet breakfast, babysitting, grocery deliveries, valet and dry cleaning. Residents will receive a privilege card which offers exclusive benefits and privileges throughout Wafi City. Complimentary shuttle bus services are also available from the property to Wafi City and Jumeira open beach. Facilities at the property include a business centre, meeting room, outdoor swimming pool, jacuzzi and fully-equipped gymnasium. Security is provided on a 24-hour basis and supported by closed-circuit TV surveillance.


About The Ascott Group

The Ascott Group is the largest international serviced residence owner-operator outside the United States with about 16,000 serviced residence units in key cities of Asia Pacific, Europe and the Middle East.

The Group operates three brands – The Ascott, Somerset and Citadines in 43 cities in 17 countries. These include London, Paris, Brussels, Berlin and Barcelona in Europe; Singapore, Bangkok, Pattaya, Hanoi, Kuala Lumpur, Tokyo, Seoul, Shanghai, Beijing, Xi’an and Hong Kong in Asia; Sydney, Melbourne and Auckland in Australia / New Zealand as well as Dubai in the Middle East.

The Ascott Group is headquartered in Singapore. It pioneered Asia Pacific's first branded luxury serviced residence in 1984. It also established the world’s first pan-Asian serviced residence real estate investment trust, Ascott Residence Trust in 2006. Today, the Group boasts a 22-year industry track record and serviced residence brands that enjoy recognition worldwide.

The Ascott Group’s achievements have been recognised internationally; it has clinched numerous prestigious awards including the ‘Most Outstanding International Brand’ award from Apartment Living magazine in Thailand, ‘2006 Korea Top Brand’ award by Seoul Economy newspaper, Korea Herald’s ‘Readers’ Best Brand Awards 2006’, ‘2006 Best Company & CEO’ award from the Herald Business in Korea, the ‘Best Serviced Residence Brand’ award by Lifestyle + Travel magazine in Thailand, the ‘Innovative Capital Venture’ award at the 2006 China Hotel Investment Summit, 2006 ‘China’s Top 100 Serviced Apartments’ award, Korea Times’ ‘Best International Serviced Residence Brand’ award, the ‘Highly Commended Deluxe Accommodation’ award at the 2005 Tasmanian Tourism Awards, ‘Best Accommodation’ at the 2005 World Travel Awards, TTG Asia Media’s 2005 ‘Best Serviced Residence Operator’ award, and the Business Traveller Asia Pacific’s 2005 ‘Best Serviced Residence Brand’ and ‘Best Serviced Residence’ awards. For a full list of awards, please visit : https://www.the-ascott.com/aboutus/awards_and_accolades.html?year=2007

Listed on the mainboard of the Singapore Exchange, The Ascott Group is the serviced residence arm of CapitaLand Limited, one of Asia’s largest listed property companies. Headquartered in Singapore, the multinational company's core businesses in property, hospitality and real estate financial services are focused in gateway cities in Asia Pacific, Europe and the Middle East. Its property and hospitality portfolio spans more than 70 cities in 18 countries.

For reservations on The Ascott Group’s properties, call Central Reservations on (65) 6272-7272 or visit www.the-ascott.com.



Celina Low, Vice President, Corporate Communications

Tel: (65) 6586 0475 

Hp: (65) 9682 5458 

Email: celina.low@the-ascott.com

Joan Tan, Manager, Corporate Communications

Tel: (65) 6586 0474 

Hp: (65) 9743 9503 

Email: joan.tan@the-ascott.com

Lilian Goh, Head, Investor Relations

Tel: (65) 6586 7231  

Hp: (65) 9795 5225  

Email: lilian.goh@the-ascott.com