Singapore’s Ascott Limited has officially launched Viet Nam’s largest serviced residence, Citadines Blue Cove Da Nang by the Han River on the Son Tra peninsula.

The 548-unit Citadines Blue Cove Da Nang, which is also Ascott’s first property in Da Nang city and its largest property globally, offers ideal residential apartments overlooking Da Nang Bay and easy connections to the main industrial areas and destinations of the city, including Hoi An ancient town and Hue city.

Lew Yen Ping, Ascott’s Country General Manager for Viet Nam, said: “Viet Nam is Ascott’s largest market in Southeast Asia, where demand for serviced residences remain high. We currently have 21 properties offering close to 4,700 units across seven cities in the country,” she said.

“More than 2,000 units across nine properties are slated to open in HCM City, Ha Noi, Da Nang, Ha Long City and Binh Duong Province in the next years. We look forward to providing more accommodation choices in the fast-expanding Viet Nam market and are committed to achieving our target of 7,000 units in the country by 2020,” she said.

She continued: “Citadines Blue Cove Da Nang would widen Ascott’s brand offerings in Viet Nam where it had a well-established reputation built over 20-years with Somerset brand.”

According to the United Nations World Tourism Organisation, international tourist arrivals for Viet Nam was 12.9 million in 2017, an increase of 29.1 per cent from 2016.

The country also attracted US$35.9 billion in foreign direct investment in 2017, an increase of 44.4 per cent from 2016.

The Ascott company has over 45,000 serviced residence units in key cities of the Americas, Asia Pacific, Europe, the Middle East and Africa, as well as about 30,000 units which are under development. — VNS