VNRE - Binh Thien An Real Estate Company (BTA) and the serviced residence management The Ascott Limited (Ascott) just signed a contract. Accordingly, The Ascott will manage 200 fully equipped apartments in Diamond Island and will be leased in 2014. Also, The Ascott will also manage 50 apartments without furniture in separate towers of the project and will be leased in 2012.
Diamond Island is located in District 2, Hochiminh City, surrounded by Saigon river, Giong Ong To river and the protective role of mangrove forest. The project includes residential and retail, with a total investment of USD 500 million and construction density is only 15%. The project is in the process of completion, expected to hand over the first six towers in early 2012.
The Ascott is a pioneer in managing serviced residences in Vietnam with the Somerset brand. The Ascott is managing more than 1,600 apartments in 10 buildings in Hochiminh City, Hanoi, Haiphong and Danang.