Oakwood Continues Global Expansion Momentum, Announces New Office in Beijing, China

LOS ANGELES and BEIJING, July 1, 2019 /PRNewswire/ -- Oakwood, wholly owned by Mapletree Investments ("Mapletree"), announced today it has opened a new office in Beijing, China – a significant milestone that builds on the company's rapidly growing footprint in the Asia Pacific region. Oakwood is now able to better serve companies expanding their reach to China and help navigate the complexities of doing business in the world's largest corporate travel market. 

With the establishment of a Beijing office, Oakwood is able to bill in local currency and issue fapiao, a legal receipt that serves as proof of purchase for goods and services. This not only allows companies to be reimbursed for taxes, it provides documentation to ensure that individuals are reimbursed for business expenses.

"For many of our clients, having a foothold in China, with a local office and trained staff that understands local nuances, is a key requirement for servicing multinational accounts. Our clients will be assured of a trusted global partner who understands their corporate travel and relocation needs, and we can better manage their booking requests," explained Dean Schreiber, interim chief executive officer, Oakwood and managing director, Oakwood Asia Pacific.

Oakwood has a footprint of 35,000 properties in more than 95 countries and an exceptional portfolio of Oakwood-branded properties. Working in partnership with Oakwood enables clients to take advantage of this global footprint, making it easier to source, book, and manage your housing requirements while matching the preferences of both the client and employee.

"Oakwood's expansion in China is an exciting, important step as we continue to enhance our housing solutions across the Asia Pacific region, and explore new ways to service our clients and provide value," Schreiber added. "Oakwood currently has nine branded properties in China, including Beijing, Guangzhou, Hangzhou, Sanya, Shanghai, Suzhou, and Yangzhou with more to come."

About Oakwood^®

Oakwood®, a wholly owned subsidiary of Mapletree Investments, is the leading global accommodation solutions provider helping businesses and individual travelers be anywhere they need to be. With an extensive and flexible selection of move-in ready furnished and serviced apartments, Oakwood has enabled thousands of companies to expand their reach to more customers and markets. The award-winning company continues investing in its quality portfolio of Oakwood-branded properties throughout the Americas, EMEA (Europe, the Middle East and Africa) and APAC (Asia Pacific) offering travelers a broad range of accommodation options from apartments with luxurious style and full amenities to sensible accommodations with modern essentials. For more information, please visit Oakwood.com.

About Mapletree

Mapletree is a leading real estate development, investment, capital and property management company headquartered in Singapore. Its strategic focus is to invest in markets and real estate sectors with good growth potential. By combining its key strengths, the Group has established a track record of award-winning projects, and delivers consistent and high returns across real estate asset classes.

Mapletree currently manages four Singapore-listed real estate investment trusts (REITs) and six private equity real estate funds, which hold a diverse portfolio of assets in Asia Pacific, Europe, the United Kingdom (UK) and the United States (US).

As at 31 March 2019, Mapletree owns and manages S$55.7 billion of office, retail, logistics, industrial, residential and lodging properties.

The Group's assets are located across 12 markets globally, namely Singapore, Australia, China, Europe, Hong Kong SAR, India, Japan, Malaysia, South Korea, the UK, the US and Vietnam. To support its global operations, Mapletree has established an extensive network of offices in these countries.

For more information, please visit www.mapletree.com.sg.

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SOURCE Oakwood