Vietnam: Oakwood Worldwide has revealed plans for a second property in Ho Chi Minh City, District 7.
Oakwood Residence Saigon, the first Oakwood serviced apartment developed by Mapletree Investments in Vietnam, and features 237 units ranging from studios to three-bedroom apartments. It is part of Saigon South Place, a 4.4-hectare integrated mixed-use project master-planned and developed by Mapletree. The development comprises SC VivoCity, a 64,250 square metre shopping mall, Mapletree Business Centre, a 17-storey Grade A office tower, Oakwood Residence Saigon and a high-rise residential block RichLane Residences. There are also plans for two more commercial towers in the precinct.
Chua Tiow Chye, deputy group chief executive officer at Mapletree Investments, said: “Mapletree is proud to launch our first Oakwood-branded property in Vietnam, and the second in Asia Pacific that we built after acquiring Oakwood Worldwide. This move is part of our wider business strategy to bring the reputable Oakwood brand to global markets. We intend to step up the development and acquisition of serviced apartment assets in markets globally which have growth potential for serviced residency and corporate housing to be managed under the Oakwood brand.”
“Vietnam has been experiencing robust economic growth and with international arrivals and domestic travel expected to continue on a growth trajectory, it is an opportune time for us to grow our presence in the country,” said Dean Schreiber, managing director, Oakwood Worldwide in Asia Pacific.
