Ascott Targets 20% Annual Growth and 15,000 Units in Middle East, Africa, and Turkey by 2030

(MENAFN- Sandpiper) Strategic Expansions in Saudi Arabia and UAE, and Future-Ready Concepts Like lyf to Power Next Phase of Growth

United Arab Emirates, Dubai, 08 May April 2025 – The Ascott Limited (Ascott), a leading global hospitality operator today, today announced plans to achieve a 20% annual growth rate over the next five years in the Middle East, Africa, and Turkey (MEAT) region — setting a bold pace for expansion as the region’s hospitality and tourism sectors undergo rapid transformation.

Ascott’s growth ambitions align with the region’s mega-development programs such as Saudi Vision 2030 and the UAE’s D33 Economic Agenda. The company aims to steadily grow its regional presence toward 15,000 units in operation or under development by 2030, leveraging its flexible living portfolio and experience-led hospitality models.

"We are targeting sustainable, robust growth of 20% year-on-year, guided by a flexible living philosophy and a focus on future-ready cities," said Vincent Miccolis, Managing Director, Middle East, Africa, and Türkiye, The Ascott Limited. "As tourism, urban living, and work patterns evolve, Ascott is uniquely positioned to meet the region’s demand for hybrid hospitality solutions that blend living, working, and community experiences."

Ascott’s expansion plans are anchored by strategic growth in Saudi Arabia and the United Arab Emirates. In Saudi Arabia, the company intends scaling operations across Riyadh, Jeddah, Makkah, Madinah, and key secondary cities, supported by upcoming openings such as Ascott Villas Riyadh, an upper-upscale living concept set to launch in Q3 2025 and the recent signing of a The Crest Collection hotel located on King Fahd Road in Riyadh. In the UAE, Ascott is deepening its presence in Dubai and entering Abu Dhabi, targeting both tourism and business demand. New projects include The Crest Collection Ras Al Khaimah on Marjan Island, bringing bespoke, story-driven hospitality to one of the UAE’s fastest-growing leisure destinations.

As part of its future-ready strategy, Ascott is also responding to powerful shifts in traveller expectations — particularly among Millennials, Gen Z, and globally mobile citizens — who increasingly seek flexible living environments, community connection, and authentic, locally rooted experiences.

Looking ahead, Ascott sees a significant opportunity to introduce its highly successful experience-led social living concept, lyf, to the Middle East for the first time. Currently thriving in global cities like Singapore, Bangkok, London, Tokyo, and soon Paris, lyf properties are purposefully designed to foster organic social interactions through shared spaces, community-driven programming, and a tech-enabled, flexible guest experience. From co-working lounges to communal kitchens and curated local collaborations, lyf creates environments that go beyond traditional accommodation — offering a new way of living, working, and connecting.

"The Middle East is undergoing one of the most dynamic urban transformations globally, with young business travelers, digital nomads, and long-stay residents increasingly looking for more than just a place to stay," said Miccolis. "The lyf concept is a perfect fit for the region’s future cities — blending social living, flexible design, and operational agility in ways that appeal to next-generation travelers and forward-thinking investors alike. The brand has gained a lot of traction in the co-living space over the past three years. We are targeting to sign 150 lyf properties globally by 2030 and we see great potential for many of these to be in the MEAT region."

Bringing lyf to the Middle East would not only diversify the regional hospitality landscape but also offer owners and investors a highly efficient, future-focused model. Designed with compact unit designs, highly activated common spaces, lower development and operational costs, and strong resonance with younger market segments, lyf represents a compelling value proposition for partners seeking to differentiate their hospitality offerings in an increasingly competitive environment.

As new giga-projects in Saudi Arabia, and new urban innovation districts in Abu Dhabi and Dubai reshape the tourism and living landscape, Ascott’s adaptable hospitality models — from serviced residences to community-driven social living hubs — are primed to meet the needs of future-forward cities.

"New cities require new thinking," said Miccolis. "Ascott is building for a future where community, flexibility, and experience are the true currencies of hospitality."

About The Ascott Limited

The Ascott Limited (Ascott) is driven by a vision to be the preferred hospitality company, enriching global living with heartfelt experiences. With a portfolio of over 980 properties across more than 230 cities in over 40 countries, Ascott’s presence spans Asia Pacific, Central Asia, Europe, the Middle East, Africa and the USA. Its diverse collection of award-winning brands includes Ascott, Citadines, lyf, Oakwood, Somerset, The Crest Collection, The Unlimited Collection, Fox, Harris, POP!, Preference, Quest, Vertu and Yello.

Ascott specialises in managing and franchising a wide range of lodging options, including serviced residences, hotels, resorts, social living properties and branded residences, catering to the varying needs and preferences of global travellers. Through the Ascott Star Rewards (ASR) loyalty programme, members enjoy exclusive privileges and curated experiences, enhancing every aspect of their travel journey.

As a wholly owned business unit of CapitaLand Investment Limited, Ascott generates fee-related earnings by leveraging its expertise in both lodging management and investment management. It also drives the expansion of funds under management by growing its sponsored CapitaLand Ascott Trust and private funds.

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