The Ascott Limited, a leading international lodging operator and wholly owned subsidiary of Capital and Investment, has announced a franchise agreement for Somerset Admiralty Way Lagos, a new serviced residence development in Lekki, Lagos, Nigeria which is owned and promoted by, Mr. Olumide Mabawonku, a seasoned businessman with vast interests in the real estate and hospitality industries. The signing took place at FHS World Dubai, one of the region’s premier hospitality and investment forums, marking a significant milestone in Ascott’s expansion across the Middle East and Africa.
Developed as a greenfield project by Admiralty Hotel Company Limited and managed by Aleph Hospitality, the property will feature 135 purpose-built serviced apartments tailored to meet the needs of contemporary travelers to Africa. The development is expected to open in October 2028 and will include premium facilities such as a restaurant and bar, meeting rooms, a swimming pool, and a fitness center.
This new signing strengthens Ascott’s presence in Nigeria, complementing the upcoming Citadines Purplelekki Lagos and expanding the company’s reach in the country’s most vibrant hospitality market. With this addition, Ascott’s Africa portfolio now encompasses 22 properties across key markets including Kenya, Morocco, Ethiopia, Djibouti, and Senegal, representing more than 2,500 units either operational or in development.
Lagos, Nigeria’s commercial capital, continues to experience robust hospitality demand from both business and leisure travelers. The city welcomes over 1.3 million international visitors annually and serves as headquarters for numerous multinational corporations. The area is also witnessing significant infrastructure development, including the Lekki Deep Seaport and a proposed new airport.
Strategically located on Admiralty Way in Lekki, the property offers convenient access to Victoria Island and the Lekki Free Trade Zone, positioning it near key commercial and lifestyle destinations.