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Ascott to manage Vietnam’s largest serviced residence integrated development

By Charlene Chin

/ EdgeProp Singapore |

October 12, 2021 4:13 PM SGT

(Credit: CapitaLand)

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SINGAPORE (EDGEPROP) - CapitaLand’s wholly owned lodging business unit, The Ascott, has partnered Sun Group, one of the biggest real estate developers in Vietnam, to manage Vietnam’s largest serviced residence integrated development, it announced.

Read also: Ascott opens first co-living property in Fukuoka, Japan

Within Sun Group’s Tay Ho View Complex in Hanoi, Ascott will manage 1,905 units across three distinct serviced residence brands.

The group plans to introduce some of its brands, which include The Crest Collection, Ascott The Residence, and Citadines Apart’hotel. The three residences are expected to open in phases from 1Q2023.

The launch of The Crest Collection will be its first in Asia. The brand is currently only available in France, and focuses on providing guests a luxury experience emphasising its character and heritage.

Ascott at Tay Ho View Complex will have 1,167 units comprising suites, studio, one- to four-bedroom apartments and duplex units, while Citadines Apart’hotel will offer 710 units comprising studio, one- to four-bedroom apartments and duplex units. The Crest Collection will offer 28 exclusive units, comprising three- and four-bedroom duplex apartments.

Facilities at the three properties include residents’ lounges, a reading room and gymnasiums, as well as high-end restaurants by Michelin-starred or world-renowned chefs.

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