Oakwood has established a presence in Vietnam with the signing of a new serviced residence in Ho Chi Minh City.
Scheduled to launch in the fourth quarter of 2016, the Oakwood Apartments Ho Chi Minh City will be located in the city’s District 3, not far from the city centre.
Catering for leisure travellers as well as long-stay business-people, the property will feature 68 units ranging from studios to one- and two-bedroom apartments. Facilities include a gym, residents’ lounge and restaurant.
“This is an exciting year for Oakwood Asia Pacific as we celebrate key milestones such as the opening of our 10th property in Tokyo this August; as well as our expansion into new regions such as Australia, Malaysia, Singapore and Vietnam,” said Dean Schreiber, managing director of Oakwood Asia Pacific.
“Vietnam’s economy has been growing steadily with strong foreign direct investments. Oakwood Asia Pacific’s core business is in providing serviced apartments for business travellers, and this is a timely opportunity for us to debut in Vietnam.”
Oakwood currently manages a portfolio of 27 properties in 15 cities across eight Asian countries and territories in Asia.