The growing significance of the serviced apartment market over the past few years has lured institutional investors to the business, and saw the emergence of chained operations in the market. The increasingly sophisticated resident requirements and competitive environment have pushed demand for quality hardware and software management to new heights in the operation of serviced apartments in Hong Kong.
In this white paper, we will provide you with an overview of the serviced apartment market in Hong Kong and discuss with you the key factors in forging a successful project in this niche market.
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Opened in 2002 the Marriott Executive Apartments Dubai Creek has established itself as the leader for extended stay in Dubai.
After 6 years in operation the one, two and three bedroom apartments got a stylish ‘face lift’.
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MILAN (Reuters Life!) – Italian designer Giorgio Armani’s home division is to deck out the interior of exclusive apartments in Rome, as part of a project to convert a historical building into a complex of luxury serviced flats.
Some 62 apartments are planned in the Cavour220 project — a residential block occupying 12,000 sq m (129,200 sq ft) and composed of six linked buildings surrounding a garden.
Each flat will have its own specific ground plan, which can be finalised and furnished to personal tastes on the basis of layouts and finishes proposed by Armani/Casa.
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FRASERS Hospitality launched its serviced apartment complex at Fusionopolis yesterday – its third property in Singapore and certainly not its last.
Fraser Place Fusionopolis, located on levels 17 to 19 of the Symbosis Tower of Fusionopolis @ one-north, has 50 units, all one-bedroom loft apartments ranging from 46 sq m to 99 sq m.
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Franchise accommodation group Quest Serviced Apartments has won the Brand of the Year Award at the Australia, New Zealand & Pacific Hotel Investment Conference (ANZPHIC 09), beating six other competitors to snare the coveted title.
Brand of the Year, which was one of five categories awarded and was announced on 3 July, was evaluated by the number of openings and re-brandings by new and refurbished hotels, resorts and serviced apartments in Australia in 2008. The award also took into account the spread and importance of brand expansion.
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CapitaLand unit, Ascott, has opened two new serviced residence apartments in China.
Somerset JieFangBei is in Chongqing, while Somerset Garden City is located in Shenzhen. The properties are Ascott’s first in each city.Ascott now has 26 properties in 12 cities across China, making it the largest international serviced residence owner and operator in the country.
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Construction has begun on the twin tower Celestion Apartments in Anzac Avenue. It’s one of only two new apartment developments currently going up in Auckland’s CBD. Being built by Kalmar Construction (responsible for The Stadium Apartments and Waldorf St Martins), the Celestion Apartments will have a completed sales value of around $60 million.
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Those planning to visit Seoul for business in Gangnam, sol, would do well to remember there are options outwith the most expensive hotels.
The Oakwood Premier Coex Center Seoul, the winner in the luxury hotel- style residence category, has a lot to offer at a fairly lower price.
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Rents for serviced apartments in Dubai have dropped by 20 to 30 per cent since last August, according to real estate agents.
“The recent rent drops across Dubai have affected the serviced sector as well,” Mohanad Alwadiya, Director of Harbor Real Estate, told Emirates Business. “A one-bedroom serviced apartment in The Address hotel at Downtown Burj Dubai cost around Dh150,000 per year to rent in August 2008. However currently it is priced at about Dh115,000.
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Shama Serviced Apartments renewed their regional banner campaign on AsiaXPAT in order to continue the successful exposure for their brand to the 500,000 unique visitors on AsiaXPAT network.
AsiaXPAT are pleased to announce that Shama Serviced Apartments, one of first companies to advertise on AsiaXPAT starting in 1999, have again renewed their exposure with a long term regional campaign.
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