This will boost its inventory in Vietnam to 1,182 units
CAPITALAND’S serviced residence arm has clinched a management contract for a property in the coastal city of Hai Phong.
The Somerset Central TD, Hai Phong, will open in the second half of next year and offer 132 units ranging from studio to three-bedroom apartments, The Ascott Group said yesterday.
This will be the seventh property in Ascott’s portfolio in the country and will boost its inventory in Vietnam to 1,182 units.
The latest management contract is from Thuy Duong Investment Joint Stock Company, a property company with developments across Vietnam’s major cities.
The property is part of the landmark TD Plaza, a mixed use development at Le Hong Phong Road that comprises a five-storey mall, which is already operating; an office block; and two towers of residential apartments and serviced residences.
‘The new Somerset property will be the first international branded serviced residence and the largest serviced apartment in Hai Phong,’ Ascott said.
The latest property will cement Ascott’s position as the largest international serviced residence operator in Vietnam. Continue reading
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