Ascott Secures Another Management Contract In Hanoi And Opens Property In Ho Chi Minh City

CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has won a contract to manage another serviced residence in Hanoi, Vietnam. The 252-unit Somerset West Central Hanoi will open in 2016. The contract follows the recent opening of the 100-unit Somerset Vista in Ho Chi Minh City. Together, these reinforce Singapore-based Ascott’s position as the largest international serviced residence owner-operator in Vietnam with over 1,800 apartment units across 13 properties in four cities – Ho Chi Minh City, Hanoi, Hai Phong and Danang.

Mr Alfred Ong, Ascott’s Managing Director for Southeast Asia and Australia, said: “Ascott has established a presence in Vietnam for close to two decades and we remain confident in the long-term economic outlook of the emerging country, underpinned by its large, young workforce and pro-growth policies. Our serviced residences in Vietnam have maintained occupancies of over 80%.”

Mr Ong added: “The addition of Somerset West Central Hanoi and Somerset Vista Ho Chi Minh City will allow us to better cater to the accommodation demand in Vietnam’s two largest cities. We will also enjoy greater economies of scale in our operations. Moving forward, Ascott will open properties in other key growth cities of Vietnam. Our first property in Hai Phong – Somerset Central TD Hai Phong City will open in 2014, while our first property in Danang – Somerset Danang Bay will open in 2015.”

Somerset West Central Hanoi (Opening In 2016)
Somerset West Central Hanoi will be strategically situated in the Nam Trung Yen New Urban Area in Cau Giay District, slated to become the new central business district of Hanoi. The serviced residence will serve the accommodation needs of corporate clients located in the area. Currently, the area houses the offices of government ministries in Vietnam such as the Ministry of Home Affairs and Ministry of Public Security as well as multinational companies such as Standard Chartered, KPMG and PricewaterhouseCoopers.

As part of an integrated development, Somerset West Central Hanoi will be conveniently linked to a Parkson department store. It is within walking distance to the Big C hypermarket and National Conference Centre. The Noi Bai International Airport and existing city centre are also within a 30-minute drive from the serviced residence. Somerset West Central Hanoi will offer residents a choice of studios, one-, two- and three-bedroom apartment units. The serviced residence will also provide facilities such as a swimming pool, gymnasium, business centre and residents’ lounge.

Somerset Vista Ho Chi Minh City (Now Open)
Ascott has opened Somerset Vista Ho Chi Minh City in District Two, which is earmarked to be the city’s new commercial and financial centre. The serviced residence is close to the current central business district and easily accessible via the Hanoi Highway and the East-West Highway.

It is situated within An Phu Ward, a prime residential precinct popular with expatriates. The area is home to 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. A Metro Hypermarket, An Phu Supermarket, restaurants and cafes are also conveniently located within the serviced residence’s vicinity.

As part of The Vista – a premier residential development by CapitaLand, Thien Duc Trading Construction Co., Ltd and Phu Gia Investment Joint Stock Company – Somerset Vista Ho Chi Minh City is connected to a medical clinic, retail outlets, supermarket and office facilities on its premises.

Designed by the award-winning RSP Architects, Somerset Vista Ho Chi Minh City offers beautifully-furnished apartments ranging from two- to four-bedroom units. Each apartment comes with a fully-equipped kitchen, separate living and dining areas, complete with modern amenities such as washing machine and dryer, home entertainment system, complimentary Internet access, and docking station for iPhone, iPad and iPod.

Residents can enjoy extensive facilities in Somerset Vista Ho Chi Minh City. These include a 50-metre lap pool and Jacuzzi amidst lush landscaped garden, a children’s pool and playground, a gymnasium with state-of-the-art fitness equipment, a clubhouse with steam room and sauna, tennis court and golf putting green. Residents can also relax in the privacy of their apartments or entertain their friends and business associates at the residents’ lounge or living room at the lobby.

Somerset Vista Ho Chi Minh City also offers 24-hour reception and security, housekeeping, laundry and dry cleaning services, business centre services as well as residents’ programmes.

To celebrate the opening of Somerset Vista Ho Chi Minh City, Ascott is offering special introductory rates from VND 1,590,000++ per night for a two-bedroom apartment from now until 28 February 2013. For reservations or more information, please visit www.somerset.com, call (65) 6272 7272 or email enquiry@the-ascott.com.