Ascott’s drive to introduce top-class serviced residences in the Gulf region could not have been better timed with the 118-unit Somerset Al Fateh receiving its first guests on 10 April 2007 in Bahrain.

Bahrain has one of the fastest growing and freest economies in Gulf region. With increased budget spending to develop all sectors of the economy, this will translate into increased business travellers and an enlarged expatriate community that requires premium quality accommodation.

Ascott’s strategy is to gain a foothold in the key gateway cities in the Gulf region. As such, a master development agreement was signed with Addax Investment Bank last year to launch at least 15 serviced residences across the Middle East and North Africa by 2010. Somerset Al Fateh is one of the 15, with Somerset West Bay, Doha being the other one.

Ascott now has properties in Bahrain, Qatar and Dubai with 402 units.