Ascott deepens presence in Vietnam's key cities

Following the successful launch of Somerset Vista in Ho Chi Minh City in December 2012, The Ascott Limited (Ascott) has won another contract in Vietnam to open a Somerset Serviced Apartment in Hanoi in 2016. The 252-unit Somerset West Central Hanoi, coupled with Somerset Vista Ho Chi Minh City, reinforces Singapore-based Ascott’s position in Vietnam as the country’s largest international serviced residence owner-operator operating more than 1,800 apartment units across 13 properties in four cities: Ho Chi Minh City; Hanoi; Hai Phong and Danang.

Somerset West Central Hanoi (Opening In 2016) will be strategically situated in the Nam Trung Yen New Urban Area in Cau Giay District, tipped to become the new central business district of Hanoi. The serviced residence will cater to the accommodation needs of corporate clients in the area which houses a variety of government ministry offices and multinational corporations.

As part of an integrated development, Somerset West Central Hanoi will enjoy direct access to a Parkson department store and will be in walking distance of the Big C hypermarket and National Conference Centre. Noi Bai International Airport is also within a 30-minute drive of the property.

Somerset West Central Hanoi is to offer a choice of studio-, one-, two- and three-bedroom apartments and facilities will include a swimming pool, gymnasium, business centre and residents’ lounge.

Mr Alfred Ong, Ascott’s Managing Director for Southeast Asia and Australia, said: “Ascott has had an established presence in Vietnam for almost 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 Vista Ho Chi Minh City opened in December 2012 District Two, an area predicted to be the city’s next commercial and financial centre. The serviced residence is close to the current central business district and easily accessible to the Hanoi Highway and the East-West Highway.

Located in An Phu Ward, a prime residential precinct popular with expatriates, the area is home to prestigious educational establishments including the British International School Ho Chi Minh City, shops, restaurants and cafes.

The residence is 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 was designed by award-winning Architects, RSP, to offer beautifully furnished two-, three- and four-bedroom apartment units. Each comes with a fully-equipped kitchen, separate living and dining areas, modern amenities such as a docking station for iPhone®, iPad® and iPod®, and complimentary Internet access.

Somerset Vista Ho Chi Minh City’s extensive facilities include a 50-metre lap pool, Jacuzzi within a landscaped garden, children’s pool and playground, high-tech gymnasium, and a club house with a steam room, sauna, tennis court and golf putting green. Services include a 24-hour reception and security, housekeeping, laundry and dry cleaning, business centre and residents’ programmes and the property also benefits from a lounge and living room at the lobby, a medical clinic, retail outlets, supermarket and offices.

Ascott is currently offering an introductory rate at Somerset Vista Ho Chi Minh City priced from VND 1,590,000++ per two-bedroom apartment per night. Valid to February 28 2013 and subject to availability; reservations can be made via: somerset.com.