What is the story about?
What's Happening?
The Ascott Limited, a lodging business unit of CapitaLand Investment, has partnered with Huu Toan Corporation to introduce the Citadines brand in Can Tho, Vietnam. This collaboration marks Ascott's first venture with Huu Toan Corporation, a prominent Vietnamese energy solutions provider, and the debut of the Citadines brand in Can Tho. The project, Citadines Riverside Can Tho, is set to open in 2028 and will feature 244 contemporary units in a prime riverside location. The development aims to capitalize on Can Tho's growing tourism and business travel markets, offering modern accommodations in a dynamic residential district near cultural and business hubs.
Why It's Important?
This development is significant as it strengthens Ascott's presence in Vietnam, expanding its portfolio to 38 properties in the country. Can Tho, as the economic and cultural hub of the Mekong Delta, is experiencing rapid growth in sectors like agriculture, logistics, and renewable energy, which is fueling a tourism boom. The introduction of Citadines Riverside Can Tho is poised to enhance the city's hospitality landscape, attracting both corporate and leisure travelers. The partnership with Huu Toan Corporation leverages local market knowledge to deliver an authentic experience, potentially setting new standards for serviced residences in the region.
What's Next?
As the project progresses towards its 2028 opening, both Ascott and Huu Toan Corporation will focus on integrating world-class hospitality standards with local cultural elements. The development is expected to attract significant interest from both domestic and international tourists, further boosting Can Tho's reputation as a major tourism and business hub. The success of this project could lead to further collaborations between Ascott and local partners, expanding the Citadines brand into other emerging markets within Vietnam.
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