Ascott manages 10th property in Vietnam

November 09, 2011 | 14:44

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Binh Thien An Property Joint Stock Company has signed a contract with Ascott to manage a 200-unit apartment tower in Ho Chi Minh City’s Diamond Island Sky Resort.

The fully-furnished apartments will be available for corporate lease in 2014. Ascott will also manage another 50 unfurnished apartments in separate towers within Diamond Island Sky Resort that will be available for lease in 2012.

Ascott is a pioneer in the serviced residence industry in Vietnam and has built a strong reputation with its award-winning Somerset brand in the market over the past 17 years.

With this addition, Ascott further strengthens its leadership presence in Vietnam with more than 1,600 apartment units in 10 properties across four cities – Ho Chi Minh City, Hanoi, Haiphong and Danang.

“Diamond Island Sky Resort is a landmark development, from its unique location, stunning surroundings to its beautiful architecture and design. With the government’s plans to transform District 2 into Vietnam’s finance and administration centre, our apartments on Diamond Island Sky Resort will cater to high net-worth local residents and expatriates looking for quality accommodation in the area,” said Alfred Ong, Ascott’s managing director for Southeast Asia.

Diamond Island Sky Resort is an integrated development comprising residential and retail zones. It is developed by BTA with total investment of $500 million. Located in District 2, Diamond Island Sky Resort is surrounded by Saigon River, Giong Ong To River and vast green belts.