MetroResidences moves in to Japanese serviced apartment market

George Sell By George Sell
09 August 2017 | Updated 09 August 2017

Singapore: Apartment rental platform MetroResidences is expanding its serviced to the Japanese market.

MetroResidences, which recently secured Japanese e-commerce group Rakuten as an investor, established a Japanese subsidiary earlier this year. The company will soon launch a Japan-focused website that lists properties meeting certain conditions such as proximity to major transit stations, advertising rooms in English and Japanese. The company hopes to initially post about 70 units, expanding to 100 in three years.

MetroResidences will also support owners who want to use their properties as serviced apartments by delivering keys to guests and performing other property management duties.

Co-founder Lester Kang described MetrResidences as a "disruptor of the traditional property model" adopted by the likes of Frasers and Ascott: "They are like the five-star hotel to our Holiday Inn - every apartment on our curated platform is comfortable, not of poor quality and offers good value for money," he said.

The company targets junior to mid-level executives, he said, adding: "We strive to be the Amazon of furnished apartments where, on one platform, human resource managers can source an array of apartments for their staff."

Rakuten managing executive officer Masatada Kobayashi said: "With its technical expertise and understanding of the Asian travel market, MetroResidences is on track to develop a strong market share with its unique commitment to providing sharing economy accommodation."

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