The Ascott Limited Announces Landmark Signing of The Crest Collection in Riyadh

The Ascott Limited Announces Landmark Signing of The Crest Collection in Riyadh

The Ascott Limited, in partnership with Homod Altheeb Holding, is bringing The Crest Collection to Riyadh, marking the brand’s debut in Saudi Arabia. Located in the prestigious An Nakheel district, this high-end property will feature elegantly designed rooms, luxury amenities, and first-class facilities. The project aligns with Saudi Arabia’s Vision 2030, reaffirming Ascott’s commitment to growth in the Kingdom and enhancing Riyadh’s position as a global tourism hub.

Riyadh, Kingdom of Saudi Arabia – 7 February 2025 – The Ascott Limited, a leading international lodging operator, is proud to announce the signing of its first The Crest Collection property in Saudi Arabia, in collaboration with Homod Altheeb Holding. Located in Riyadh’s prestigious An Nakheel district, this landmark development marks a significant milestone in Ascott’s rapidly expanding regional portfolio and aligns with Saudi Arabia’s Vision 2030 to elevate tourism across the Kingdom. 

The signing of The Crest Collection in Riyadh also represents a pivotal step in the brand’s international expansion, further solidifying its reputation for excellence in global hospitality. Joining renowned locations such as Paris, London, Tokyo and Singapore, the Riyadh property underscores The Crest Collection’s dedication to delivering distinguished experiences in prominent destinations worldwide.

Set to open in January 2028, this opulent 5-star development will feature exquisitely designed hotel rooms, serviced apartments, and suites, catering to both leisure and business travelers. Guests will experience an array of premium amenities, including specialty dining restaurants, a signature ‘Reading Room’ lounge and café, and comprehensive wellness facilities featuring a pool, gym, and treatment rooms. For business travelers, the property will also offer state-of-the-art meeting and multi-functional spaces, making it a prime destination for corporate and social gatherings.

Strategically located on King Fahd Road, the property is surrounded by key commercial and lifestyle hubs, including King Abdullah Financial District, Riyadh Digital City, and Kingdom Tower. In addition, high-end shopping destinations such as Gallery Mall and Al Faisaliah Mall are just a short drive away, placing the property at the center of Riyadh’s vibrant urban landscape with excellent connectivity.

Vincent Miccolis, Managing Director for The Ascott Limited, Middle East, Africa, and Turkey, said: “This iconic project marks an exciting milestone for The Ascott Limited as we debut The Crest Collection in Saudi Arabia, further strengthening our growth and presence in the Kingdom. Renowned for its exceptional properties that blend the heritage of a destination with unique character and sophistication, The Crest Collection epitomizes bespoke hospitality. Partnering with the esteemed Homod Altheeb Holding, we are proud to bring a property of timeless elegance, prestige and excellence to Riyadh’s burgeoning hospitality landscape.”

Mohammad Homod Altheeb, Vice Chairman of the Board of Directors, Homod Altheeb Holding, said: “We are pleased to partner with The Ascott Limited to bring the first The Crest Collection to the Kingdom of Saudi Arabia. This landmark development highlights our shared commitment to advancing Saudi Arabia’s Vision 2030. With its prime location, sophisticated design, and world-class amenities, this property will set a new benchmark for hospitality in Riyadh, further solidify the city’s reputation as a premier global destination, and contribute to Homod Altheeb Holding’s expansive vision in hospitality and tourism.”

This prestigious development reflects the unique heritage and timeless sophistication of The Crest Collection, providing an elevated experience for discerning guests and redefining hospitality excellence in Saudi Arabia.

-ENDS-

About The Ascott Limited

Since pioneering Asia Pacific’s first international-class serviced residence with the opening of The Ascott Singapore in 1984, Ascott has grown to be a trusted hospitality company with more than 940 properties globally. Headquartered in Singapore, Ascott’s presence extends across more than 220 cities in over 40 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa, and the USA. 

Ascott’s diversified accommodation offerings span serviced residences, coliving properties, hotels and independent senior living apartments, as well as student accommodation and rental housing. Its award-winning hospitality brands include Ascott, Citadines, lyf, Oakwood, Quest, Somerset, The Crest Collection, The Unlimited Collection, Preference, Fox, Harris, POP!, Vertu and Yello; and it has a brand partnership with Domitys. Through Ascott Star Rewards (ASR), Ascott’s loyalty programme, members enjoy exclusive privileges and offers at participating properties.

A wholly owned business unit of CapitaLand Investment Limited, Ascott is a leading vertically integrated lodging operator. Harnessing its extensive network of third-party owners and in-market expertise, Ascott grows fee-related earnings through its hospitality management and investment management capabilities. Ascott also expands its funds under management by growing its sponsored CapitaLand Ascott Trust and private funds.

For more information on Ascott’s industry record of close to 40 years and its sustainability programme, please visit www.discoverasr.com/the-ascott-limited. Connect with us on Facebook, Instagram, TikTok and LinkedIn.

About Homod Altheeb Holding

Homod Altheeb Holding was established as an extension of Homod Abdullah Altheeb’s endeavours, which began in 1979. Starting as a small establishment in the construction sector, the company grew and evolved into a holding group that now oversees several specialized companies. This success is attributed to its effective management and over 45 years of extensive experience. The group has successfully expanded its investments into diverse fields, including trade, industry, real estate, hospitality services, and petroleum services, all while maintaining a steadfast commitment to innovation and quality in every aspect of its operations.

In 1979, Homod Altheeb stood at the threshold of his first dream, fueled by ambition and a determination to pave a path to success. His journey began with Theeb Contracting, laying the foundation for a structure that would grow with time. Step by step, he expanded his horizons, diversifying his ventures and building an innovative investment portfolio that left a notable mark

across various sectors. Today, Hamoud Altheeb Holding stands as a beacon of innovation and excellence, with its reach spanning vital industries that support the national economy, localization, and enhance the quality of life for individuals and communities. This success was not a matter of chance, it was rooted in high-quality internal systems, exceptional external dealings based on trust and professionalism and a forward-thinking approach. Through this pioneering mindset and a commitment to development, Homod Altheeb Holding has built a diverse and innovative investment portfolio. It actively contributes to the national economy and the well-being of society by adopting top-tier internal systems, exceptional external practices, and precise operations that align withthe highest standards.

Homod Altheeb Holding is one of the leading companies in corporate management of holding and investment companies. (Management and operation of hotels, furnished residential units, chalets, car rental, real estate development and general construction of residential buildings, roads and real estate rental, operation of gas stations in various cities of the Kingdom and on the quick roads associated with them, transportation of burns, investment in securities inside and outside the Kingdom, transport and logistics, agricultural sector).