There are about 16,500 serviced apartments in Hong Kong. At the high end, corporate executives make up the bulk of the clientele. These high-flyers are used to the best and the industry knows it needs to get creative to meet their demands.
Belinda Kuan, deputy general manager of Signature Homes, the residential leasing arm of Sun Hung Kai Properties, believes demand will remain high. 'The market is active and will continue to flourish. General rentals increased 20 per cent to over 30 per cent last year,' she says.
Signature Homes' Four Seasons Place has 519 serviced suites and its sister project, The HarbourView Place, has 266. 'Demand for high-end serviced suites with prime location is growing,' Kuan says.
The two complexes feature a 24-hour multilingual concierge, in-room dining, housekeeping and limousine pick up. The company's guest liaison specialists/orientation specialists provide personalised orientation and can organise social activities, such as fung shui talks, aroma oil balm workshops and hiking trips, to help guests get comfortable as they settle in their new city.
Coco Wong, portfolio manager of Pacific Place Apartments of Swire Properties, also expects continued growth. 'In view of the strong economic growth in Asia-Pacific, the demand for serviced apartments is strong and maintaining a positive growth. We anticipate there will be another 10 to 15 per cent growth this year,' she says. It is important to equip apartments with state-of-the-art communications and electronic appliances, Wong says. Suites are furnished with complimentary plug-and-play broadband internet and appliances including flat screen televisions and a surround-sound home theatre system. Kitchens come with a full range of appliances.
For Shama Serviced Apartments, it's all about little extras such as a rooftop herb garden, a barbecue grill and free mint tea.