December’s opening of Somerset Vista Ho Chi Minh City will further consolidate Ascott as the largest international serviced residence in Vietnam. The Vista is a premier residential development by CapitaLand, Thien Duc Trading Construction Co., Ltd and Phu Gia Investment Joint Stock Company.
Ascott has been awarded a contract to manage a 100-unit serviced residence in Ho Chi Minh City, Vietnam. The deal includes a 100-unit serviced residence in Ho Chi Minh City and 168-unit property within The Vista available for lease. This transaction further fortifies the company as the premiere serviced residence owner-operator, as it already holds 1,600 apartment units in 11 properties across the country.According to Ascott’s Managing Director for Southeast Asia and Australia, Alfred Ong, “Somerset Vista Ho Chi Minh City and Vista Residences further affirm Ascott’s commitment to grow our business in Vietnam. “ He continues, “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.”
