JAPAN’S Daiwa House Industry, the property development and management arm of conglomerate Daiwa Group, intends to open extended stay properties in several Southeast Asian countries, primarily to serve the growing number of Japanese workers in the region, the company said in a press release.
In the statement posted on the Daiwa Group website, the company said it is in discussions with local developers for serviced-apartment developments in major metropolitan areas across Vietnam, the Philippines, Thailand, and Indonesia.
The Japanese firm, which is most known for construction of single-family homes and institutional buildings, currently manages about 300 serviced apartment units. It plans to increase that to 10,000 units by 2022, the company said, with the bulk of that growth to come from new developments in Southeast Asia. The target would require the opening of five to six new complexes annually, it added.
Daiwa House said the fully furnished apartments would offer full hotel services such as housekeeping and laundry, for an additional fee, or could be rented as conventional apartments for guests staying from several weeks to several months. A typical complex would comprise 200 to 300 units, and feature communal areas with large baths, Japanese restaurants, and other retail and service offerings.
Daiwa House added that it initially plans to cater to demand from Japanese business travelers, before targeting business travelers from Europe and the US.