Press Releases

RAFAL real estate development company, the premier residential community innovator in Saudi Arabia, launched RAFAL Residence, the luxurious residential vertical community serviced by ASCOTT, in addition to Ascott RAFAL Olaya Riyadh, on Wednesday 12th of April, 2017 at RAFAL Residence Community.

The inauguration ceremony was attended by RAFAL CEO, Mr. Abdul Rahman Bajunaid, and RAFAL Residence partners, Mr. Vincent Miccolis, the Country General Manager GCC & Turkey of The ASCOTT Limited; Mr. Faisal Yabroudi Regional Head, Dubai Contracting Company (DCC) and Mr. Mansour Al Saaghayer Corporate Banking Head, Saudi British Bank (SABB).
His Excellency Mr. Lawrence Anderson, ambassador of Singapore was also present at the event along with RAFAL Board members, amidst a crowd of businessmen and journalists.

On the sidelines of the ceremony, Mr. Abdulrahman Bajunaid, CEO RAFAL Real Estate Development Company, said: “RAFAL is witnessing today a new addition, RAFAL Residence, serviced by Ascott which is introducing a unique branded residential community for the first time in Riyadh.”

Mr. Abdulrahman Bajunaid added, “Despite the current challenges, we were able with support of our partners, to successfully launch this project within the specified timeframe.RAFAL will continue its real estate development journey in Saudi Arabia, by announcing new projects, that will further enhance its real estate mark in the Kingdom.”

“The Ascott Limited is honored to embark on this partnership with the esteemed RAFAL Real estate development company, we hope this to be our first of many fruitful projects together” Said Mr. Vincent Miccolis, the Country General Manager GCC & Turkey of the ASCOTT Limited.

“Our first Serviced Residence to open in the Kingdom of Saudi Arabia is a major milestone for Ascott, it gives me great pleasure to announce that Ascott Rafal Olaya Riyadh is now our flagship property in the Middle East”

RAFAL Residence is strategically located on King Fahd road, and is just 5-minute drive to the up-and-coming King Abdullah Financial District, and Riyadh’s main business centers.
RAFAL Residence consists of 27 high-end floors, featuring 172 elegant residential apartments fully serviced by Ascott. In addition to Ascott Rafal Olaya Riyadh encompassing234 5-stars hotel apartments located on the first ten floors.
The vertical luxurious residential tower in Riyadh offers prime branded residential serviced apartments offering full-fledged services integrated with the deluxe lifestyle. These facilities and services include gym, swimming pool and restaurants on the first floor featuring high- class hotel services, and an exclusive club, accessible only to residents on the top floor.