Ascott Signs Two New Properties in Ho Chi Minh, Vietnam

Ascott has been 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 this year.

It is part of The Vista, a premier 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 further consolidates its position as one of the largest international serviced residence owner-operators in Vietnam with over 1,600 apartment units in 11 properties across four cities – Ho Chi Minh, Hanoi, Hai Phong and Danang.

Mr Alfred Ong, Ascott’s Managing Director for Southeast Asia and Australia, said, “Ascott established its presence in Ho Chi Minh City more than 15 years ago and we have always enjoyed strong occupancies for our two serviced residences in the city’s central urban district of District One. With the government’s plans to transform Ho Chi Minh City’s District Two into Vietnam’s new commercial and financial centre, we see strong growth potential to expand into the area. Somerset Vista Ho Chi Minh City and Vista Residences, with their strategic location in District Two, proximity to facilities such as international schools, elegant design and quality product finishes, will appeal to expatriates and families with children looking for quality accommodation.”

 Somerset Vista Ho Chi Minh City and Vista Residences

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

The properties are near the Metro Hypermarket, An Phu Supermarket and prestigious educational establishments such as the British International School Ho Chi Minh City, Australian International Saigon School and International School of Ho Chi Minh City. In addition, they are connected to the medical clinic, retail outlets and office facilities within The Vista.

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 well-equipped kitchen, separate work and living areas, home entertainment system as well as other modern amenities.

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

“Somerset Vista Ho Chi Minh City and Vista Residences further affirm Ascott’s commitment to grow our business in Vietnam. We will be opening more properties in Vietnam in the next few years. These include our first property in Hai Phong – Somerset Central TD Hai Phong City which will open in 2013, and our first property in Danang – Somerset Danang Bay that will open in 2014. We will continue to look for opportunities to expand our presence in this key growth market and target to increase our Vietnam presence to 2,200 apartment units by 2015,” said Mr Ong.

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