The Ascott Limited, one of the largest international serviced residence owner-operator, said it has won a contract to manage a 229-unit premier serviced residence in Doha, its second property in Qatar.

Ascott, a wholly-owned serviced residence business unit of CapitaLand, said the new serviced residence – Ascott Doha will open in the second half.

Ascott Doha is the company's second property in Qatari capital, the first one being the Somerset West Bay also in Doha.

With this new Doha venture, Ascott will now operate a total of 865 apartment units in five serviced residences across three cities in the Gulf region.

This comes following Ascott’s recent addition of the 118-unit Ascott Park Place Dubai in the UAE.

Comprising 24 floors of luxury, Ascott Doha is located at the north end of Corniche Bay in the heart of Doha’s diplomatic district.

It is within walking distance to the City Centre Mall, one of Qatar’s best known retail and entertainment destinations, said Ronald Tay, chief investment officer of The Ascott Limited.

“Qatar offers tremendous potential for Ascott as it is one of the fastest growing countries in the world due to its huge oil and gas reserves. Its economy is set for double-digit growth this year with further expansion expected over the coming years," said Tay.

"Moreover, Qatar has been aggressively promoting tourism and will be hosting large-scale international events such as the 2022 FIFA World Cup," he added.

"Besides strengthening our presence in Qatar, Bahrain and the UAE, we continue to actively look for opportunities in Kuwait, Oman and Saudi Arabia, remarked Tay.

Ascott Doha will offer one-, two- and three-bedroom apartments to cater to both short- and long-stay travelers’ different lifestyle needs.

"Each apartment will come with a fully-equipped kitchen, en-suite bathrooms, separate work and living areas as well as modern amenities. Residents can also unwind and enjoy facilities such as two swimming pools, a Jacuzzi, a sauna and steam room, a gymnasium, a salon and a café," said the official.

Besides Doha projects and Ascott Park Place Dubai, the company also manages the 118-unit Somerset Al Fateh in Bahrain.-TradeArabia News Service