Riyadh Real Estate Income Co., Ascott plan new Saudi hotel

Ascott

At a signing event in Riyadh, Saudi Arabia, the Riyadh Real Estate Income Company and the Ascott Limited announced plans to develop the Ascott Corniche Al Khobar. The management contract puts the project on track for opening in mid-2018, according to Hotelier Middle East.

When the hotel opens, Tony Soh, COO of The Ascott Limited, said, it will be the first branded serviced residence in the Corniche district, and will target both business and leisure travelers for short and extended stays. 

As one of the main cities in Saudi Arabia’s oil-rich Eastern Province, Al Khobar forms what is known as ‘the Triplet Cities’ along with Dhahran and Dammam, which are approximately 20 km away from each other and together form one of the Kingdom’s most significant metropolitan areas.