CLAS owns five leasehold serviced residences in Vietnam, which operate under management contracts. The five properties have an average length of stay of over four months. Somerset Grand Hanoi comprises 185 units and is located within Hanoi’s largest CBD, close to a host of restaurants, entertainment stretches and local attractions. Somerset Hoa Binh Hanoi comprises 206 units and is well located next to the business and financial districts, as well as the flourishing Hoa Lac high technology development zone. Somerset Chancellor Court Ho Chi Minh City is a 172-unit serviced residence with a prime location in the CBD, attracting expatriates working for large multinational companies within the vicinity. The 198-unit Somerset Ho Vietnam GROSS RENTAL INCOME (VND’MILLION) REVENUE PER AVAILABLE UNIT (VND’000) FY 2024 FY 2023 FY 2024 FY 2023 Somerset Central TD Hai Phong City 45,513 52,030 896 1,023 Somerset Chancellor Court Ho Chi Minh City 141,022 136,153 1,566 1,487 Somerset Grand Hanoi 243,242 232,507 1,934 1,826 Somerset Ho Chi Minh City 131,921 130,547 1,715 1,706 Somerset Hoa Binh Hanoi 78,824 61,490 895 658 Properties 5 Total Revenue (FY 2024) S$36.1M Total Gross Profit (FY 2024) S$17.0M Units 893 Valuation (as at 31 December 2024) S$173.2M Chi Minh City is strategically located in District 1, the city’s acclaimed commercial, diplomatic and shopping district. Somerset Central TD Hai Phong City is a 132-unit serviced residence that is part of an integrated development, close to a multitude of international schools, shopping malls and hospital facilities. The property is located in Hai Phong, the third largest city and one of the largest industrial hubs and ports of Vietnam. The property is a 15-minute drive from three industrial parks. In FY 2024, RevPAU of the Vietnam properties increased 6% YoY in VND terms mainly due to higher occupancy. Featured property: Somerset Hoa Binh Hanoi, Vietnam 49 Annual Report 2024
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