Investments & Funding

Ascott’s growth ambitions are closely aligned with regional initiatives such as Saudi Vision 2030 and the UAE’s D33 Economic Agenda, both of which prioritize tourism, urban development, and economic diversification.

The hotel’s interiors are crafted by renowned designer Andreas Neudahm, ensuring each of the 217 rooms and suites delivers a sophisticated retreat with modern flair.

Themed ‘Unlocking the Stay,’ the showcase aligned with Hilton’s global marketing platform and gave guests a chance to engage with flagship brands such as Conrad Hotels & Resorts, DoubleTree by Hilton, Hilton Garden Inn, and Hampton by Hilton.

Set on a scenic peninsula along the Red Sea, Soma Bay is a 2,500-acre resort community located approximately 45 kilometers south of Hurghada International Airport.

The Trendyol Go deal offers Uber immediate scale in a high-growth region, competing with rivals like DoorDash, which recently acquired Deliveroo to expand in Europe.

This latest funding round, backed by prominent investors including NEA, Accel, and Google Ventures, brings the company’s total funding to over US$2 billion and its valuation to more than US$7 billion.

The US$1.2 billion all-cash transaction is expected to close in the second half of 2025, pending regulatory approvals and customary closing conditions.

The development comprises 84 waterfront apartments and 19 villas, all designed to maximize the breathtaking views over the water, shoreline, and the upcoming Wynn Al Marjan Island resort.

Strategically located on Sheikh Zayed Road at the gateway to Downtown Dubai, the 350-metre, 80-storey tower offers panoramic views of the Burj Khalifa and the Arabian Gulf.