The Ascott group is expanding its portfolio in the Middle East with the opening of its first residence in Turkey, Somerset Maslak Istanbul.
The property houses 165 residential units, from studios to 4-bedroom apartments, each with a fully equipped kitchen, wireless internet connection and a separate workspace. In addition, residents of Somerset Maslak Istanbul will benefit from the resort's facilities, starting with a breakfast room, a gymnasium, a residents’ lounge, a swimming pool and a children’s playroom.
“Turkey is an attractive market for foreign investors and we see significant potential to expand in the country with Ascott’s international brand of serviced residences,” said Tony Soh, Chief Corporate Officer of The Ascott Limited. “Turkey has a strategic location at the crossroads of Europe, Middle East and Asia, a large domestic market and stable policy environment."
With its key brands, Somerset and Citadines, the Ascott Group is supporting the growth of its international portfolio of upscale residences: a large number of openings are planned for 2018-2021, particularly in the Middle East (Saudi Arabia and United Arab Emirates) and Asia-Pacific (China, Indonesia, India...).
As of January 1, 2017, Ascott International is the 43rd largest group of hotels and residences in the world, with 163 properties totaling 26,976 units, according to data published by Hospitality ON.
- The Ascott Limited accelerates development in the Middle East
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