The 140-unit serviced residence in Thủy Nguyên district marks Intertruck’s first hospitality venture Hai Phong, Vietnam, 22 April 2026 – The Ascott Limited (Ascott), the lodging business unit wholly owned by CapitaLand Investment (CLI), has secured a hotel management contract with Intertruck Co., Ltd for Citadines Riverside Hai Phong in Thủy Nguyên ward, slated to open in 2029. The signing marks Intertruck’s first hospitality venture, bringing together one of Vietnam’s established transportation and real estate investors with a globally recognised hospitality company. The addition brings Ascott’s portfolio in Vietnam to 38 properties and over 9,300 units across operational and pipeline. Ascott currently operates a Somerset property in Hai Phong and Citadines Riverside Hai Phong marks the debut of the Citadines brand in the city. Citadines Riverside Hai Phong is the brand’s sixth property in Vietnam, joining a portfolio of five operational and pipeline properties across the country. Hai Phong is Vietnam’s third-largest city and a major economic and logistics hub, anchored by an international seaport, Cat Bi International Airport and a growing cluster of industrial parks. Its district of Thủy Nguyên is emerging as the city’s new administrative and economic centre, drawing an expanding community of international specialists, engineers and corporate travellers. It is within this dynamic setting that Citadines Riverside Hai Phong will take shape. The six-storey, 140-unit serviced residence is a brownfield development within Hoang Huy Green River Urban Area, a 32.5-hectare master-planned mixed-use development set alongside 150 hectares of lake and water surface, with shared amenities including riverside running tracks, outdoor sports zones and a central square. Within the property itself, units range from studios to three-bedroom apartments, designed around a sustainable, human-centric philosophy. In-property amenities include F&B outlets, a fully equipped gym and a rooftop swimming pool. Located at the intersection of arterial roads Road 359 and Road 9C, Citadines Riverside Hai Phong offers direct access to the city centre (15 minutes), Thủy Nguyên’s new administrative centre (five minutes) and Vietnam-Singapore Industrial Park (VSIP) (two minutes). Road 359 is lined with local and international dining options, department stores and banks, offering easy access to daily amenities for guests and locals alike. The property is well-placed to serve short-stay business travellers, mid-to-long-stay expatriates working in the surrounding industrial park cluster, and MICE attendees drawn to Thủy Nguyên’s growing role as a business destination. Mr David Cumming, Regional General Manager of Indochina, said: “Ascott has been present in
