By Shabnam Muzammil:
The Ascott Limited (Ascott) has secured a contract to manage the Somerset West Central Hanoi (pictured), a 252-unit serviced residence in Hanoi, Vietnam that is set to open in 2016.
This follows the recent opening of the 100-unit Somerset Vista in Ho Chi Minh City’s District Two, earmarked to become the city’s new commercial and financial centre.
Meanwhile, Somerset West Central Hanoi will be strategically located in the Nam Trung Yen New Urban Area in Cau Giay District, the city’s new central business district.
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%.”
Ascott is the largest international serviced residence provider in Vietnam, with 1,800 apartments in four cities, namely Ho Chi Minh City, Hanoi, Haiphong and Danang.
Shabnam Muzammil, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email shabnam@propertyguru.com.sg
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