HANOI, Vietnam — According to a press release issued by The Ascott Limited, the lodging business unit wholly owned by CapitaLand Investment (CLI), the company has expanded its development pipeline in Vietnam through the signing of three new hospitality properties in Da Nang, Quy Nhon, and Ho Chi Minh City. The latest agreements increase Ascott's portfolio in Vietnam to 43 operational and pipeline properties comprising more than 11,300 units, while bringing its total signings in the country during June 2026 to eight.
The latest additions reflect Ascott's business development strategy of strengthening its presence across both established urban centers and emerging coastal destinations. The expansion also supports the company's hybrid hospitality model, which is designed to accommodate both short-term and extended-stay guests through a diversified mix of serviced residences, hotels, and resort developments.
The three signings come as Vietnam continues to attract hospitality investment supported by tourism growth, infrastructure improvements, and increasing demand for quality accommodation across both business and leisure travel segments. By expanding across multiple markets simultaneously, Ascott is broadening its operational footprint while diversifying its portfolio across different destination profiles.
One of the newly announced developments is Somerset Non Nuoc Da Nang Resort, which will be located on Non Nuoc Beach along the Truong Sa–Vo Nguyen Giap coastal corridor, one of Da Nang's established resort areas. The location provides access to Da Nang city center, Da Nang International Airport, and Hoi An Ancient Town, while also being positioned near golf courses and tourism attractions along the Da Nang–Hoi An coastline.
Scheduled to open in 2030, the beachfront resort will comprise deluxe rooms, one-, two-, and three-bedroom serviced apartments, as well as villas. Planned facilities include all-day dining and specialty restaurants, a beach club, ballroom and meeting spaces, wellness amenities, children's facilities, and swimming pools.
The property's location and planned facilities are intended to support multiple demand segments, including leisure tourism, destination weddings, golf tourism, meetings, incentives, conferences and exhibitions (MICE), and extended-stay accommodation. By incorporating multiple accommodation formats within a single development, the project expands Ascott's offering across different guest categories while strengthening its resort presence in central Vietnam.
Ascott is also entering the coastal city of Quy Nhon through the signing of Citadines Quy Nhon Resort, marking the company's first development in the destination. The project represents Ascott's expansion into a market that has been experiencing infrastructure improvements, stronger connectivity, and increasing visitor arrivals.
The mixed-use beachfront development will be constructed in two phases. The first phase, expected to open in 2030, will feature 257 villas together with a clubhouse and supporting resort facilities. The second phase, targeted for completion in 2033, will add a 100-key hotel tower equipped with its own dedicated guest facilities.
Several amenities, including the Kids' Club and spa, will be shared through the central clubhouse to serve both development phases. Upon completion, the resort will combine accommodation, dining, wellness, and recreational facilities designed for families, groups, and leisure travelers, expanding Ascott's presence within Vietnam's growing coastal hospitality market.
The Quy Nhon signing extends Ascott's geographic coverage beyond Vietnam's established tourism hubs while adding another beachfront asset under its Citadines brand. The phased development approach also allows the project to expand capacity over time while integrating shared operational infrastructure across multiple accommodation formats.
The third signing introduces Oakwood Thao Dien Ho Chi Minh City, located on Tran Ngoc Dien Street in Thao Dien, one of Ho Chi Minh City's established residential and lifestyle districts. The neighborhood is home to international schools, healthcare facilities, restaurants, cafés, and retail destinations, while accessibility has been enhanced following the opening of Metro Line 1, which provides direct connectivity to District 1.
Targeted to open in 2029, the 356-key development will offer studios, one- to four-bedroom residences, and penthouses designed to accommodate both short- and long-stay guests. Planned facilities include an all-day dining restaurant, meeting facilities, a junior ballroom, executive lounge, fitness center, sauna, and golf simulator.
The development is positioned to support accommodation demand from relocating professionals, corporate travelers, and leisure visitors, further expanding Ascott's urban hospitality portfolio in Vietnam's largest commercial center. The inclusion of multiple residence types alongside business and lifestyle amenities aligns with the company's strategy of serving diverse accommodation requirements within a single property.
Collectively, the three signings reinforce Ascott's portfolio diversification strategy by balancing expansion between metropolitan business markets and fast-growing coastal destinations. The projects also strengthen the company's presence across multiple hospitality formats, ranging from serviced residences and urban accommodation to integrated beachfront resorts.
With the latest agreements, Ascott has signed eight projects in Vietnam during June 2026, highlighting an accelerated pace of development within one of Southeast Asia's hospitality markets. The additional properties increase the company's nationwide portfolio to 43 operational and pipeline assets with more than 11,300 units.
The expansion also broadens Ascott's brand presence across Vietnam through Somerset, Citadines, and Oakwood developments, enabling the company to extend coverage across different market segments and destination types. By introducing new properties in Da Nang, Quy Nhon, and Ho Chi Minh City, Ascott is expanding both its geographic reach and product mix while supporting demand for city-based residences, beachfront resorts, short-term accommodation, and longer-term stays.
The three projects form part of Ascott's broader growth strategy in Vietnam, combining established urban markets with emerging coastal destinations while increasing development activity across multiple hospitality brands and accommodation formats.
