HCM CITY – The Ascott Limited (Ascott), the lodging business unit wholly owned by CapitaLand Investment (CLI), has secured a management contract for Citadines Riverside Cần Thơ, a landmark hospitality development in Việt Nam’s Mekong Delta region.

The partnership with Huu Toan Corporation – a prominent Vietnamese energy solutions provider – represents several firsts: Ascott’s inaugural collaboration with the energy giant, the Citadines brand’s entry into Cần Thơ, and Huu Toan Corporation’s debut hospitality venture. The greenfield project strengthens Ascott's Vietnamese footprint, bringing the company’s total portfolio in the country to 38 properties across operational and pipeline developments. Located in the heart of the Mekong Delta, the property positions both partners to capitalise on the region’s growing tourism and business travel markets.

Scheduled to open in 2028, Citadines Riverside Cần Thơ will comprise 244 contemporary units in a prime riverside location just four kilometres from the city centre. The property sits within a dynamic residential district directly opposite the tây Đô cultural centre and adjacent to the city’s emerging administrative quarter, offering guests seamless access to cultural landmarks, business hubs and entertainment venues. This strategic positioning makes it equally attractive to corporate travellers and tourists seeking flexible, modern accommodations.

Signing a strategic partnership with Huu Toan Corporation, Ascott expands its Citadines portfolio in Việt Nam with the Cần Thơ Project.

The development represents a pivotal advancement in bringing world-class hospitality standards to southern Việt Nam. As the economic, cultural and educational hub of the Mekong Delta, Cần Thơ has been experiencing robust expansion across agriculture, logistics, trade and renewable energy sectors. This economic diversification has fuelled a tourism renaissance, with the city now welcoming millions of visitors annually drawn to its legendary floating markets, scenic river excursions, rich cultural heritage, and rapidly expanding meetings, incentives, conferences and exhibitions (MICE) infrastructure.

Sustained infrastructure investment and urban expansion position Cần Thơ as Việt Nam’s next major tourism and business hub. Citadines Riverside Cần Thơ will capitalise on this momentum by delivering Ascott’s signature hospitality philosophy, seamlessly blending comfort, flexibility and lifestyle-focused service. Combined with Huu Toan Corporation’s deep local market knowledge, the partnership aims to create an authentic riverside experience that honours Mekong Delta heritage while establishing new benchmarks for serviced residences across the region.

David Cumming, Regional General Manager of Việt Nam, Cambodia & Myanmar, Ascott, said: “At Ascott, our mission in Việt Nam is clear — to deliver world-class standards of hospitality service while embracing and celebrating local culture. Ascott has cultivated a strong and agile team in Việt Nam, driven by performance and passion. We are fully committed to ensuring the success of Citadines Riverside Cần Thơ and to elevating this landmark project into a benchmark for hospitality excellence in the Mekong Delta.”

David Cumming, Regional General Manager for Việt Nam, Cambodia, and Myanmar, The Ascott Limited delivering remarks at the ceremony. Photos courtesy of Ascott

Tạ Hữu Toàn, CEO of Huu Toan Corporation, said: “After four decades in machinery and equipment, we are strategically diversifying into hospitality and serviced residences. Ascott is the ideal partner for this transition – a globally recognised hospitality operator with deep management expertise and more than 30 years of proven success in Việt Nam since 1994. As the investor of Citadines Riverside Cần Thơ, we will provide optimal conditions for Ascott to deploy their hospitality management expertise. We look forward to building a long-term partnership with Ascott that extends well beyond this inaugural project.” 

The addition brings Citadines portfolio in Việt Nam to five properties. Having recently surpassed 200 properties globally to become Ascott's largest brand, Citadines has proven its appeal among modern travellers who prioritise flexibility and authentic local experiences. The brand’s success lies in seamlessly merging serviced apartment comfort with hotel-level convenience, supported by Ascott’s innovative flex-hybrid model that accommodates both short and extended stays.

This versatility aligns perfectly with Cần Thơ’s evolving hospitality landscape, where business and leisure travel increasingly converge. As Citadines expands beyond traditional urban centres into resort and leisure destinations – including the upcoming 348-unit Citadines Selavia Phu Quoc beachfront resort opening in 2027 – the brand demonstrates its adaptability to Việt Nam’s diverse tourism markets. From dynamic city stays to relaxing riverside retreats, Citadines offers cosmopolitan guests the freedom to live, work and explore while maintaining consistent quality standards across all touchpoints.VNS