The Ascott Limited Expands in Vietnam with new Somerset Residence Opening December 2012

Jan. 14, 2013 - PRLog -- The Ascott Limited (Ascott) has won a contract to manage a new 100-unit serviced residence in Ho Chi Minh City, Vietnam, under the Somerset brand.  Opening in December this year the property, Somerset Vista Ho Chi Minh City, will become part of The Vista, a premier residential development by CapitaLand, Thien Duc Trading Construction Co., Ltd and Phu Gia Investment Joint Stock Company.  Ascott will also manage Vista Residences, a 168-unit property within The Vista available for lease by November.

Somerset Vista Ho Chi Minh City joins three well-established Somerset residences in the city and will help to consolidate the company’s position as the largest international serviced residence owner-operator in Vietnam, with more than 1,600 apartment units in 11 properties across four cities (Ho Chi Minh City, Hanoi, Hai Phong and Danang).  Ascott’s strategic growth target for Vietnam is 2,200 apartment units by 2015. Its first property in Hai Phong - Somerset Central TD Hai Phong City – will open in 2013, and its first in Danang - Somerset Danang Bay - in 2014.