“We Define Global Living” NEWS RELEASE ASCOTT BOOSTS KSA

Ascott International Management Dubai PTE LTD (Dubai Branch) Park Place Tower, Level 7, Sheikh Zayed Road, PO Box 333497, Dubai, United Arab Emirates t (971-4) 326 6643 f (971-4) 386 4418 www.the-ascott.com

NEWS RELEASE

ASCOTT BOOSTS KSA PORTFOLIO WITH NEW SIGNING IN AL KHOBAR World’s largest serviced residence owner-operator is set to open Citadines Al Aziziyah Al Khobar in Saudi’s Eastern Province in late 2021

Dubai, UAE, 8th April 2019: The Ascott Limited (Ascott), the world’s largest serviced residence owner-operator, continues to roll out its expansion portfolio in Saudi Arabia by announcing a new signing that will join its growing portfolio: Citadines Al Aziziyah Al Khobar. The property is set to open in late 2021 and will be Ascott’s seventh residence in the kingdom, and its third in the city of Al Khobar.

The 92-unit residence is currently under construction on King Khalid Road in the popular Al Aziziyah district to the south of the city. The location benefits from convenient transport links: King Khalid Road itself is the city’s main arterial highway, while the nearby King Fahd Causeway links Saudi Arabia with Bahrain. Dammam railway station is a short drive away and connects the Eastern Province to the Saudi capital, Riyadh.

When operational, Citadines Al Aziziyah Al Khobar will feature 36 studio apartments, 25 one- bedroom apartments and 30 two-bedroom apartments, as well as a 157 sqm penthouse. Facilities will include a residents’ lounge, swimming pool and gym, and a three-storey adjacent car park for visitors’ use. Guests will also be within easy reach of the neighborhood’s public beaches, restaurants, shops and recreational facilities, including Half Moon Bay and Al Khobar Corniche.

“We are very pleased to announce details of our latest serviced residence in Saudi Arabia in partnership with Nebras Tourism Company,” says Vincent Miccolis, Ascott’s Regional GM for Middle East, Africa and Turkey. “In the four years since we launched our first property in KSA we’ve established a market-leading presence with an expanding portfolio of international- standard properties in key destinations.

Mr Al Saggaf, General Manager of Nebras Tourism Company said: “We are delighted to partner with the Ascott Limited the leading serviced residence operator in Saudi Arabia today and introduce the Citadines brand into Al Kohbar”

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“Saudi’s oil-rich Eastern Province is a key metropolitan region with Al Khobar as one of its fastest growing cities,” continues Miccolis. “Citadines Al Aziziyah Al Khobar will appeal to both business and leisure travellers who seek modern comforts, business connectivity and customized services. Furthermore, the property’s impressive amenities will appeal to long- and short-term visitors who enjoy the convenience and flexibility of a centrally-located serviced apartment.” Saudi Arabia represents an important growth territory for Ascott over the next few years, with further openings in the pipeline across the kingdom.

ENDS

About The Ascott Limited

The Ascott Limited is a Singapore company that has grown to be one of the leading international lodging owner-operators. It has more than 58,000 operating units in key cities of the Americas, Asia Pacific, Europe, the Middle East and Africa, as well as over 42,000 units which are under development, making a total of more than 100,000 units in over 660 properties.

The company’s serviced residence and hotel brands include Ascott, Citadines, Somerset, Quest, The Crest Collection, lyf, HARRIS, FOX HARRIS, YELLO, POP!, Préférence and HARRIS Vertu. Its portfolio spans more than 170 cities across over 30 countries. Ascott’s properties can be found in cities including New York, London, Paris, Brussels, Berlin and Barcelona in Europe; Singapore, Bangkok, Hanoi, Kuala Lumpur, Tokyo, Seoul, Shanghai, Beijing and Hong Kong in Asia; Melbourne and Perth in Australia, Bangalore and Chennai in India; Dubai, Doha and Manama in the Middle East as well as Ghana in Africa.

Ascott, a wholly owned subsidiary of CapitaLand Limited, pioneered Asia Pacific’s first international-class serviced residence with the opening of The Ascott Singapore in 1984. In 2006, it established the world’s first Pan-Asian serviced residence real estate investment trust, Ascott Residence Trust. Today, the company boasts over 30 years of industry track record and award-winning brands that enjoy recognition worldwide.

Ascott ’ s achievements have been recognised internationally. Recent awards include World Travel Awards 2018 for ‘Leading Serviced Apartment Brand’ in Asia, Europe and

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the Middle East; DestinAsian Readers’ Choice Awards 2018 for ‘Best Serviced Residence Brand’; TTG China Travel Awards 2018 for ‘Best Serviced Residence Operator in China’; Business Traveller Asia-Pacific Awards 2018 for ‘ Best Serviced Residence Brand ’ ; Business Traveller UK Awards 2018 for ‘Best Serviced Apartment Company’ and Business Traveller China Awards 2018 for ‘Best Luxury Serviced Residence Brand’. For a full list of awards, please visit https://www.the-ascott.com/ascottlimited/awards.html.

About CapitaLand Limited

Ascott’s parent company, CapitaLand is one of Asia’s largest real estate companies. Headquartered and listed in Singapore, it is an owner and manager of a global portfolio worth over S$92 billion as at 30 September 2018, comprising integrated developments, shopping malls, lodging, offices, homes, real estate investment trusts (REITs) and funds. Present across more than 160 cities in over 30 countries, the Group focuses on Singapore and China as core markets, while it continues to expand in markets such as Vietnam and Indonesia.

CapitaLand’s competitive advantage is its significant asset base and extensive market network. Coupled with extensive design, development and operational capabilities, the Group develops and manages high-quality real estate products and services. It also has one of the largest investment management businesses in Asia and a stable of five REITs listed in Singapore and Malaysia – CapitaLand Mall Trust, CapitaLand Commercial Trust, Ascott Residence Trust, CapitaLand Retail China Trust and CapitaLand Malaysia Mall Trust.

Visit www.capitaland.com for more information.

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Cindy Blaser Mobile: +971 55 631 0028 Email: [email protected]

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