Daiwa House aims to become major serviced apartment player across south-east Asia

George Sell George Sell Uploaded 18 September 2016

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Vietnam: Japan's Daiwa House Industry will open extended stay properties across south-east Asia in response to the growing number of Japanese workers in the region.

The company is in discussions with local developers for serviced-apartment developments in in major metropolitan areas across Vietnam, the Philippines, Thailand and Indonesia.

The full furnished and equipped apartments will offer hotel services such as housekeeping, for an additional fee. The units will be targeted at guests staying for several weeks to several months. Complexes with 200 to 300 units will feature communal areas with large baths and Japanese restaurants. Daiwa House initially plans to cater to demand from Japanese business travellers, before targeting business travellers from Europe and the US.

The Japanese homebuilder is increasing the number of serviced apartments it manages from around 300 units at present to some 10,000 units by 2022. Much of that growth will come in south-east Asia, with plans to open five or six complexes annually.

www.daiwahouse.com

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