Category Archives: Service Apartments

Ascott secures contract for serviced residence in Vietnam

Posted on 30 Sep 2009 | Comments Off on Ascott secures contract for serviced residence in Vietnam

The Ascott Group has secured a contract to manage a serviced residence property in Vietnam’s third largest city, Hai Phong.

It clinched the contract through Thuy Duong Investment Joint Stock Company, an established real estate company with developments across Vietnam’s major cities.

To be called Somerset Central TD, this will be Ascott’s first serviced residence property in the coastal city of Hai Phong and its seventh in Vietnam.

It is slated to open in the second half of next year and will offer 132 units ranging from studio to three-bedroom apartments.

The new property brings Ascott’s portfolio in Vietnam to 1,182 units across three cities – Hanoi, Ho Chi Minh City and now Hai Phong.

Ascott is the serviced residence arm of property developer CapitaLand.

Source : ChannelNews Asia – 30 Sep 2009

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Frasers opens serviced suites in Delhi

Posted on 20 Aug 2009 | Comments Off on Frasers opens serviced suites in Delhi

FRASERS Hospitality has announced its first serviced apartments in India’s capital, as it moves to entrench itself further in a market that it sees as having potential topped only by China.

The nine-storey, 90-unit Frasers Suites is close to central New Delhi as well as Noida, an industrial-residential town across the Uttar Pradesh state border. It is scheduled to open in October next year, in time for the Commonwealth Games in New Delhi.

Frasers’ involvement in the New Delhi property follows its debut in the Indian market last November with the announcement of three properties in Bangalore. With the latest announcement, the total number of Fraser-managed residences to be available in India within three years will be 585. Fraser Suites New Delhi is being developed by India’s IFCI Infrastructure Development.

The deal with IFCI underscores the Singapore company’s bullish approach to the Indian market, where the government expects the economy Continue reading →

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Posted in Overseas Property, Property Market / Real Estate, Service Apartments

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