CapitaLand's wholly owned serviced residence business unit, The Ascott Limited (Ascott), has continued its strong
growth in the Middle East by inking contracts to manage its first two serviced residences in Al Khobar, one of the
main metropolitan cities in Saudi Arabia's oil-rich Eastern Province. The 172-unit Ascott Corniche Al Khobar and 133-
unit Somerset Downtown Al Khobar are slated to open in 2018 and 2019 respectively. These latest contracts will
increase Ascott's presence in the Middle East to more than 2,300 apartment units across 16 properties in nine cities
in Bahrain, Oman, Qatar, Saudi Arabia, Turkey and the United Arab Emirates (UAE).