16:35 (GMT +7) - Thursday 19/07/2018

Property

Oakwook to launch more serviced apartments in Indochina

Released at: 16:03, 26/06/2018

Oakwook to launch more serviced apartments in Indochina

Photo: Oakwood

Serviced apartments set to open in Hanoi and Phnom Penh by 2019.

by Hong Nhung

Oakwood Worldwide, wholly-owned by Mapletree Investments, announced on June 26 it plans to expand in Indochina as part of its regional growth strategy, with three properties set to open in Vietnam and Cambodia in the coming year.

“We have been steadily growing our stronghold in China and Japan and are thrilled to be broadening our presence in Southeast Asia,” said Mr. Dean Schreiber, Managing Director, Asia Pacific, at Oakwood Worldwide. “Vietnam and Cambodia have been rapidly developing with healthy economic growth rates and this is an opportune time for it to establish itself, as we foresee increasing demand for long-term accommodation.”

The first Oakwood serviced apartment outside of Ho Chi Minh City, Oakwood Residence Hanoi, will be the brand’s third property in Vietnam, preceded by Oakwood Apartments Ho Chi Minh City and Oakwood Residence Saigon.

Situated next to the famous West Lake on Dang Thai Mai Street, Oakwood Residence Hanoi is located in an expat district dotted with numerous boutiques and bistros and is a 25-minute drive from Noi Bai International Airport. Offering 265 fully-furnished serviced apartments comprising studios, one-, two- and three-bedroom apartments, and penthouses, Oakwood Residence Hanoi is designed for relocating families and is also host to a variety of facilities, including a children’s playroom, a swimming pool with a bar, a gym, and meeting and restaurant facilities. It is set to open in mid-2019.

Oakwood announced two months ago the opening of its second property in Ho Chi Minh City’s District 7, Oakwood Residence Saigon, the first Oakwood serviced apartment developed by Mapletree in the country and part of Saigon South Place project.

Oakwood also plans to open two properties in Phnom Penh in mid-2019. Oakwood Premier Phnom Penh and Oakwood Hotel & Residence Phnom Penh will be situated within One Park - a prime mixed-use development comprising office and retail space, a medical center, an international school, and residential towers.

Boasting 220 units and 168 units, respectively, Oakwood Premier Phnom Penh and Oakwood Hotel & Residence Phnom Penh will offer guests a choice of hotel rooms: studios, one-, two- and three-bedroom apartments, and penthouses. The properties include dining options, a swimming pool, a children’s playroom, and meeting spaces. A club lounge will also be opened in Oakwood Premier Phnom Penh and a residents’ lounge in Oakwood Hotel & Residence Phnom Penh.

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