Dubai, United Arab Emirates — 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.

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.

For more information on Ascott and its sustainability programme, please visit www.discoverasr.com/the-ascott-limited. Alternatively, connect with Ascott on Facebook, Instagram, TikTok and LinkedIn.

About CapitaLand Investment Limited (www.capitalandinvest.com)

Headquartered and listed in Singapore in 2021, CapitaLand Investment Limited (CLI) is a leading global real asset manager with a strong Asia foothold.  As at 31 December 2024, CLI had S$136 billion of assets under management, as well as S$117 billion of funds under management held via stakes in seven listed real estate investment trusts and business trusts and a suite of private real asset vehicles that invest in demographics, disruption and digitalisation-themed strategies.  Its diversified real asset classes include retail, office, lodging, industrial, logistics, business parks, wellness, self-storage, data centres, private credit and special opportunities.

CLI aims to scale its fund management, lodging management and commercial management businesses globally and maintain effective capital management.  As the investment management arm of CapitaLand Group, CLI has access to the development capabilities of and pipeline investment opportunities from CapitaLand Group’s development arm. In 2025, CapitaLand Group celebrates 25 years of excellence in real estate and continues to innovate and shape the industry.

As a responsible company, CLI places sustainability at the core of what it does and has committed to achieve Net Zero carbon emissions for Scope 1 and 2 by 2050.  CLI contributes to the environmental and social well-being of the communities where it operates, as it delivers long-term economic value to its stakeholders.