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InterContinental Residences Saigon leads Vietnam serviced apartment sector

InterContinental Residences Saigon leads Vietnam serviced apartment sector

InterContinental Residences Saigon has continued to lead the serviced apartment sector in Vietnam.

The prospects within the sector continue to look promising this year, as the government committed to make Vietnam an investment destination.

Due to the increase demand in accommodation, the serviced apartment sector in Ho Chi Minh City continues to grow fast.

Four significant projects - Ascott Waterfront Saigon, New Pearl Residences, Marie Curie Hotel & Suites, Citadines Regency Saigon - are expected to be completed by 2017, adding around 500 units to Ho Chi Minh’s apartment supply.

Michael Hoe-Knudsen, IHG regional general manager for Vietnam and Cambodia, who is also general manager of InterContinental Saigon hotel and InterContinental Residences Saigon, has shared a few serviced apartment trends to watch for 2017.

He explained: “The market will continue to witness the intensive competition due to the increase in unit supply for high-end serviced apartments.

“All five significant projects under construction in Ho Chi Minh now are either located in District 1 or District 3 so we can see that these central business districts continue to be the preferred locations of investors.

“The two trends I have witnessed are: First, rates are turning aggressive, clearly because of the intense competition around Ho Chi Minh City’s main business districts.

“Second, leases are becoming more flexible on commitments; as customers nowadays have more unexpected plans and travels.

“Capturing that, our property always offers various leasing options and payment conditions to make sure they will fit our tenants’ business schedules.”

Hoe-Knudsen offered his insight into the serviced apartment sector in Vietnam

Hoe-Knudsen also commented about the profitability of the property.

He continued: “InterContinental Residences Saigon has just had a wonderful and profitable year of 2016.

“Currently we are seeing good performance from both our hotel and Residences and expect the success to continue in the future.”

InterContinental Residences Saigon is considered the finest and most contemporary residential space in Ho Chi Minh City at a premier location in the heart of District 1.

Their one, two and three-bedroom apartments ranging from 78 to 200 square meters in various layouts; all are equipped with the most modern facilities like fully-equipped kitchen, individually-controlled air conditioning, microwave, refrigerator and coffee maker.

The building is attached to Kumho Asiana Plaza, the city’s finest integrated complex which offers various Korean dining options, café and bars, flower shop and a mini supermarket.

The two factors that make InterContinental Residences Saigon stand out are outstanding facilities and superior service from a prestigious international, globally-recognised hotel brand.

More Information

InterContinental Residences Saigon is nominated for the title of Vietnam’s Leading Hotel Residences at the upcoming World Travel Awards Asia & Australasia Gala Ceremony 2017.

Find out more about the event here.