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Oakwood to open 20 new properties in 2022, aims to double portfolio by 2025

By Atiqah Mokhtar

/ EdgeProp Singapore |

January 19, 2022 6:07 PM SGT

Two-bedroom superior at Oakwood Hotel & Apartments Azabu Tokyo (Credit: Oakwood)

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SINGAPORE (EDGEPROP) - Global serviced apartment brand Oakwood, a subsidiary of Mapletree Investments, recently opened its 13th property in Japan, Oakwood Hotel & Apartments Azabu in Tokyo, on Jan 14.

The property marks the first of 20 new openings Oakwood has planned for 2022, as part of its aim to double its portfolio by 2025.

The newly-opened Oakwood Hotel & Apartments Azabu Tokyo comprises 171 apartments, ranging from studio to three-bedroom configurations. Located in the Azabu-Juban district, the property is a two-minute train ride from Roppongi.

In a Jan 18 press release, Oakwood also announced its expansion into Hainan, China, as well as Dhaka, Bangladesh.

The entry into Hainan follows a strategic partnership agreement signed between Oakwood and Chinese state-owned enterprise China Green Development Group for the management of projects in China.

The partnership marks China Green Development Group’s first venture with Oakwood.

Meanwhile, Oakwood will be launching its first two properties in Bangladesh, Oakwood Hotel & Apartments Dhaka and Oakwood Suites Dhaka, in April. Both properties are owned by Aara Hospitality.

Other upcoming launches this year include three properties in China under the Oakwood Beluxs brand, which was created in partnership with Country Garden Commercial and Culture Tourism Group. The properties will be located in Dalian, Yantai and Qingdao.

Dean Schreiber, CEO of Oakwood, is confidents that the new properties and upcoming projects will complement traveller’s preferences in “the new era of travel”.

“As countries gradually re-open borders and the world progresses against this battle with the pandemic, we have reasons to be optimistic about the travel outlook for 2022,” he adds.

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