Oakwood, a wholly-owned subsidiary of Mapletree Investments (Mapletree), has partnered with Country Garden Commercial and Culture Tourism Group to co-develop a new brand, Oakwood Beluxs.
The two partners have set a target to open 100 Oakwood Beluxs properties in China's 50 cities with the highest gross domestic product (GDP) by 2030.
Oakwood Beluxs will be a residential lifestyle choice that serves the emerging needs of aspirational travelers with a global perspective of life, culture and identity.
Dean Schreiber, chief executive officer of Oakwood said, being the pioneer of serviced apartments with over 50 years of hospitality expertise, Oakwood is committed to continuous innovation and evolution with a guest-first approach.
"Since our debut in China 20 years ago, we have identified an opportunity to augment our brand portfolio with a product that serves the emergence of a new guest profile.
"We are honored to have support from Country Garden Commercial and Culture Tourism Group in co-creating Oakwood Beluxs to provide quality residential spaces for this growing segment of sophisticated travelers that will push the boundaries for hospitality experience; and look forward to announcing our first properties in Southern China in due course," he said.
With a diversified business ecosystem that integrates shopping malls, quality co-working office assets, residential developments, and cultural tourism, Country Garden Commercial and Culture Tourism Group has more than 1,000 strategic cooperative brand merchants and various product lines such as Belecity, Beletime and BIG+ Apartment, spanning a broad spectrum of business sectors such as retail, food and beverage, parenting and lifestyle.