Ascott secures contract to manage serviced residence in Danang
VOV.VN - CapitaLand’s wholly-owned serviced residence business unit, The Ascott Group Limited (Ascott), has secured a contract to manage the Citadines Blue Cove Danang, company officials report.
The deal is testament to our local partner's confidence in Ascott, said company officials, and it represents the largest serviced residence contract in Vietnam and our largest property globally, with 550 units.
Ascott clinched the contract working through Hoa Binh Corporation, an established real estate company with numerous developments across all of the major cities in Vietnam.
The 550-unit Citadines Blue Cove Danang serviced residence is scheduled to open in 2018.
Southeast Asia remains Ascott's fastest-growing market and second-largest globally after China, where it has the most number of properties.
The Ascott has more than 28,000 operating serviced-residence units in key cities of the Americas, the Asia-Pacific, Europe and the Middle East; another more than 19,000 units are under development, making for a total of more than 47,000 units in more than 290 properties.