CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has officially opened its first Somerset serviced residence and put into operation all accompanying services in Hai Phong. The 132-unit Somerset Central TD Hai Phong City is located on a prime urban area in the city, near the international airport, seaport, industrial zone and old town centre. The new property is the first international branded serviced residence in Hai Phong and reinforces Ascott’s presence as the largest international serviced residence owner-operator in Vietnam. Ascott currently has over 2,000 apartment units in 13 properties across four cities in the country – Hanoi, Ho Chi Minh City, Hai Phong and Danang.

The Official Opening Ceremony of Somerset Central TD Hai Phong City serviced residence has been graced by His Excellency Mr Ng Teck Hean, Singapore’s Ambassador to Vietnam; Mr Do Trung Thoai, Vice Chairman of Hai Phong People’s Committee and has seen close to 200 guests comprising business partners, residents, expatriates from international corporation operating in and around Hai Phong city participating.

Mr Mark Chan, Ascott’s Country General Manager for Vietnam, said: “Ascott has established a strong presence in Vietnam for over two decades and this is truly one of our strategic markets in the world. We remain confident in the long-term economic outlook of the country, underpinned by its large, young workforce and pro-growth policies. Hai Phong is a key city located in the Northern economic zone and has developed rapidly into an important industrial and transportation hub, attracting huge foreign investments. In turn, this will result in the strong influx of expatriates into Hai Phong city and subsequently, we expect to see increased demand for quality accommodations. The local government’s strong support for the development of the infrastructure as well as new industrial parks in Hai Phong will further spur economic growth and urbanisation of the city. Ascott will have the first mover’s advantage by being the first international branded serviced residence operator to offer quality serviced accommodation in this growing market.”

Mr Chan added: “The addition of Somerset Central TD Hai Phong City will allow us to better cater to the needs of our guests in Vietnam’s third largest city. We are confident that Somerset Central TD, with its elegant design and quality product finishes, ample amenities in the vicinity and as well as close proximity to industrial parks and local attractions, will be the accommodation of choice for both business and leisure travellers”.

To celebrate the opening of Somerset Central TD Hai Phong City, Ascott is offering special introductory rates starting from VND 1,650,000++ per night or VND 30,450,000++ per month for a Studio Executive from now until 30 June, 2015. For reservations or more information, please visit www.somerset.com, call (84-31) 3810000 or email enquiry.haiphong@the-ascott.com.

Besides Somerset Central TD Hai Phong City, Ascott operates three properties in Hanoi – Somerset Grand Hanoi, Somerset Hoa Binh, Somerset West Lake and five other properties in Ho Chi Minh City – Somerset Chancellor Court, Somerset Ho Chi Minh City, Somerset Vista, Vista Residences and Diamond Island Luxury Residences. The company will be opening more properties in Vietnam including Somerset West Central Ha Noi, Somerset Danang Bay and Ascott Waterfront Saigon in 2016.