THE ASCOTT LIMITED EXPANDS IN AFRICA WITH SIGNING OF SOMERSET ADMIRALTY WAY LAGOS

Ascott strengthens footprint in Nigeria’s commercial capital through new franchise partnership with Admiralty Hotel Company Limited and Aleph Hospitality

Somerset Admiralty Way Lagos signing ceremony at FHS World between The Ascott Limited, Admiralty Hotel Company Limited and Aleph Hospitality

Dubai, United Arab Emirates, 29 October 2025 — The Ascott Limited (Ascott), a leading international lodging operator and a wholly owned subsidiary of CapitaLand Investment, has announced the signing of a franchise agreement for Somerset Admiralty Way Lagos, a new serviced residence located in Lekki, Lagos, Nigeria. The signing took place during FHS World Dubai, one of the region’s leading hospitality and investment forums, marking another key milestone in Ascott’s continued expansion across the Middle East and Africa.

Developed as a greenfield project by Admiralty Hotel Company Limited and operated by Aleph Hospitality, Somerset Admiralty Way Lagos will comprise 135 purpose-built serviced apartments designed to meet the needs of next-generation travellers to Africa. The property is scheduled to open in October 2028 and will feature a range of premium facilities including a restaurant and bar, meeting rooms, a swimming pool and fitness centre.

The signing reinforces Ascott’s growing presence in Nigeria, complementing the upcoming Citadines Purplelekki Lagos and expanding the company’s footprint in the country’s most dynamic hospitality market. With this addition, Ascott’s Africa portfolio now includes 22 properties across key markets such as Kenya, Morocco, Ethiopia, Djibouti and Senegal, representing more than 2,500 units in operation and under development.

“Nigeria is one of Africa’s most dynamic hospitality markets, driven by a young population, strong private sector, and growing international connectivity,” said Vincent Miccolis, Managing Director for Middle East, Africa, and Turkey at The Ascott Limited. “The signing of Somerset Admiralty Way Lagos demonstrates our confidence in the country’s long-term fundamentals and marks another important step in our regional growth journey. Working with trusted partners such as Admiralty Hotel Company Limited and Aleph Hospitality allows us to bring Ascott’s international standards, global distribution and the well established clients base to more markets, while creating value for owners, partners, and guests alike.”

The partnership expands on Ascott’s broader regional strategy to achieve 20% annual growth over the next five years across the Middle East, Africa, and Turkey (MEAT) region. By 2030, Ascott aims to have 15,000 units in operation or under development, doubling its regional portfolio and expanding its franchise model in collaboration with leading developers and operators.

Lagos, as Nigeria’s commercial capital, continues to attract strong hospitality demand from both business and leisure travellers. The city welcomes over 1.3 million international visitors annually, serves as a base for major multinational corporations, and is seeing rapid infrastructure growth, including the Lekki Deep Seaport and a proposed new airport. Situated along Admiralty Way in Lekki, the property is ideally positioned near Victoria Island and the Lekki Free Trade Zone, providing convenient access to key commercial and lifestyle destinations.

“We are proud to bring the globally trusted Somerset brand to Lagos,” said Olumide Mabawonku, of Admiralty Hotel Company Limited. “Our vision is to deliver a premium living experience and a truly distinctive hospitality experience that reflects the vibrancy of Lagos. Partnering with Ascott and Aleph Hospitality ensures that Somerset Admiralty Way Lagos will set new benchmarks for serviced living in Nigeria.”

“We are honoured to have been entrusted with the management of Somerset Admiralty Way Lagos and to partner with The Ascott Limited on this landmark project in Nigeria. By combining our operational expertise in Africa with Ascott’s world-class standards, we look forward to delivering on our shared goal to create deliver exceptional guest experiences, optimise operations, and maximise value for the owner,” added, Bani Haddad, Founder and Managing Director of Aleph Hospitality.

Currently at the pre-design stage, Ascott’s Project and Technical Services (PTS) team will work closely with the appointed architect and Aleph Hospitality throughout the development process to ensure full compliance with Somerset brand specifications, sustainability benchmarks, and guest experience standards.