Ascott expands in Vietnam

Ascott has announced that it was awarded a contract to manage a 100-unit serviced residence in Ho Chi Minh City, Vietnam.

The new Somerset Vista Ho Chi Minh City is slated to open in December. It is part of The Vista, a residential development by CapitaLand, Thien Duc Trading Construction Co., Ltd and Phu Gia Investment Joint Stock Company. Ascott will also manage Vista Residences, a 168-unit property within The Vista that will be available for lease this November.

With the additions, Ascott consolidates its position as the largest international serviced residence owner-operator in Vietnam with over 1,600 apartment units in 11 properties across four cities – Ho Chi Minh City, Hanoi, Hai Phong and Danang.

The company is opening more properties in Vietnam in the next few years. These include its first property in Hai Phong – Somerset Central TD Hai Phong City, which will open in 2013; and its first property in Danang – Somerset Danang Bay that will open in 2014. It is targeting to increase its Vietnam presence to 2,200 apartment units by 2015.

 

Sited within the residential precinct of An Phu Ward, Somerset Vista Ho Chi Minh City and Vista Residences are close to the current central business district and accessible via the Hanoi Highway and the East-West Highway.

Somerset Vista Ho Chi Minh City and Vista Residences will both offer apartments ranging from two- to four-bedroom units. Each apartment at Somerset Vista Ho Chi Minh City will also come fully furnished with a kitchen, separate work and living areas, home entertainment system as well as other modern amenities.

Residents of both properties can enjoy an array of facilities such as a 50-meter lap pool that overlooks landscaped gardens, a children’s pool and playground, a gymnasium with fitness equipment, a clubhouse with steam and sauna, Jacuzzi, tennis court and golf putting green.

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