Society

Serviced apartments popular among foreign families

By Zhang Xiaomin (China Daily Dalian Bureau)
Updated: 2010-10-20 16:56

Tania Alfonso, from Mexico, lives with her husband and their daughter in a serviced apartment in the Dalian Development Area (DDA) of Northeast China's Liaoning province.

She enjoys her life in Dalian partly because of this "home" at Shama Luxe Grand Central, which offers 195 ultra-luxurious serviced apartments in the heart of the DDA.

"I really love the apartments and the atmosphere here. It is like having the best of both a home and the amenities of a hotel," said Alfonso.

Unlike hotels, tenants of serviced apartments are relatively stable. They have the opportunity to get to know their neighbors in public areas within the building, such as the fitness center, the swimming pool, the children's play area, and the business center.

Alfonso has a lot of friends at Shama. They always get together to do exercises, go shopping, learn about Chinese culture, and take part in other activities.

"Some of our clients even learn how to play mahjong," said Sophon Vongchatchainont, general manager of Shama Luxe Grand Central.

According to Vongchatchainont, the occupancy rate of this project rose to 80 percent by its one-year anniversary on Oct 12.

"Serviced apartments are most popular among families of senior executives of foreign-invested companies like Intel and Goodyear in DDA. About 60 percent of the tenants are Europeans, 25 percent are from North America, and 15 percent from Asia," he said.

Zhang Xiaojing, an official with the DDA economy and trade bureau, believes more serviced apartments will be needed as more and more foreign companies are opening shop in DDA.

"Foreign businessmen need not only internationalized office buildings but also residencies and facilities that conform to their lifestyle," Zhang said.

Zhang was echoed by Cyrus Pun, director of SPA Grand Central (Dalian) Enterprise, the proprietor of the Shama project in the DDA.

"Several new five-star hotels and serviced apartments will open within years in DDA. The increase of supply is in basic balance with the demand. It reflects the market potential," said Pun.

Bhupesh Yadav, chief operating officer of Shama, said the corporation expects a positive outlook for the serviced apartment sector in Asia in years to come.

"The requirement for quality serviced apartments has never been greater in first- and second-tier Chinese cities such as Guangzhou, Shenzhen, Xian, Qingdao, Chengdu and Beijing. With such a promising market, we need to have more Shama properties in the region," Yadav said.