Related stories

One Night in Beijing, Luxury in China Overdrive in Oriental Manhattan: Business Booms in Beijing's CBD New Hotels with New Features Opeing in Beijing From Children in Beijing t o Children in Sichuan Doubletree by Hilton Beijing: Seeking an Oasis in the City

Millennium Residences: Rising Star in Serviced Apartments in Beijing

      Foreign employees of multinational companies operating in China have typically been the major clients of serviced apartments in Beijing. Now, with the US and European economies staggered by economic crises, it would be natural to assume that the high-end residence market is suffering as well: but is this the case?

      According to an industry survey of major international-brand serviced apartments in Beijing cited by Guy Feest, general manager of the Millennium Residences, the occupancy rate of most mature brands in the capital are doing just fine: 9 of the 14 apartments surveyed reported occupancy rates above 60 percent in April.

      This number coincides with a first-quarter property-market report by Colliers International Property Services that reveals the vacancy rate for serviced apartments in Beijing was 38.83 percent.

      Reports suggest that new properties entering the market constitute the biggest drag on today’s vacancy rates. Already, 30 percent of the units at Shama Luxe ChangAn, which was opened in mid 2008, are leased. The Millennium Residences, which opened in January 2009, experienced an occupancy increase to 22 percent in May from 17 percent in April.

      Feest has his eye on achieving a 60-percent occupancy rate at the Millennium Residences by July. “Serviced apartments are not like hotels,” said Feest. “We need a longer time to reach a normal occupancy level, but we will remain stable at that level when we do.”

      Beijing has weathered the global economic crisis well, said Feest. The current downturn in occupancy rates is mainly a result of a recent rapid increase in supply in a market where demand has been comparatively stable.

      “Our leases are long-term ones, mostly one year or longer, and they are mainly signed at the beginning or middle of the year, coinciding with the assignments of employees,” said Feest

      Nearly 1,800 units of serviced apartments entered the market in 2008 and the first quarter of 2009, pushing the total number to 8,368, according to Colliers.  

      To attract more tenants, the Millennium Residences is providing a lucrative promotional package from May to July, featuring a roughly 40 percent discount.

      Normally, established brands can usually lease their rooms at an asking price or with a slight discount, but at Millennium Residences it is considered more important now to build the brand, according to Feest.

The first serviced apartment in China of the prestigious hotel company Millennium & Copthorne, Millennium Residences is located in the Fortune Plaza complex at the core of the Beijing CBD (Central Business District), providing 329 one-, two- and three-bedroom apartments.

      “You’ll find yourself surrounded by all the destinations you need to go to in everyday life and business,” said Feest. “It’s within walking distance of the China World Trade Centre, Kerry Centre, Jingguang Centre and the new CCTV headquarters complex; if you want to go shopping or find something to eat, you can also walk to The Place or Shin Kong Place. You can also access Beijing Subway Line 10 right outside the apartment, which will take you, in ten minutes, to the Sanyuanqiao Station, where you can board the Airport Express and get to the airport in 30 minutes.”

      Feest is relying on the Oxygen Health Club at the five-star Grand Millennium Hotel to which the serviced apartments are attached to lure clients. Guests of the Millennium Residences can enjoy the new 3,555-square-metre club without leaving the building complex. What’s more, all the facilities at the hotel are available to the Millennium Residences guests at a 20 percent discount. And if the residents need to hold meetings, training sessions or events, the facilities at the hotel are a convenient choice. 

      As the area around the Millennium Residences continues to mature with the completion of various other projects, life in the Millennium Residences will become even more convenient. Scheduled to open in the middle of 2009, the Fortune Mall, which connects the Grand Millennium Hotel and Millennium Residences will feature 220 retail, dining, service, supermarket and other tenant services to truly provide a complete “All under one Roof” living experience for all Millennium residents.

北京财富中心千禧公寓：豪华时尚中的温馨生活

        2009年第1季度，由于受到许多公司降低运营成本和住房补贴的政策影响，北京整体高端住宅市场的空置率略有上升，服务式公寓的存量为8368套，空置率达到38.83%。但一份最新的北京服务式公寓入住情况统计数据也显示：目前，北京一些知名服务式公寓如Fraser Suites、The Ascott Beijing等，其入住率均保持在60%以上，也在某些程度上体现出一些市场的发展潜力。

        2009年初进入市场的位于CBD核心区域的北京财富中心千禧公寓（以下简称千禧公寓），在开业之初就推出了329套豪华居室，在当前经济和市场形式下，如此大手笔的“盛装项目”在北京豪华住宅市场中备受关注。

        千禧公寓总经理费快乐对此表示，目前一些高端住宅出现空置率只是暂时现象，主要是由于市场供应量超过了需求量，但还是具备一些发展潜力的，千禧公寓并不担心出现大量的空置情况。从开业之初到如今短短5个月时间，公寓已经实现了22%的入住率。另外一个重要的因素是，千禧公寓具备很多独具特色的条件，这也是吸引客户入驻的主要原因之一。“如果选择入驻在千禧公寓，那就意味着与中国国际贸易中心、嘉里中心以及京广中心、中央电视台新址等地标性建筑为邻，尊贵的气势不言而喻。”费快乐介绍说。

        但在这样的“高端”环境中生活，并不意味着会失去生活的便利，公寓周边的生活配套设施十分完善，餐厅、购物中心、休闲娱乐设施等近在咫尺，紧邻的地铁10号线和多条公交线路使通向使馆区、写字楼、国际学校和机场的交通出行便利快捷。

        千禧公寓独特的四节风车状建筑造型，可以将CBD内全方位的繁华美景呈现在每间套房内，并且套房内均配有中央空调和供暖系统、全套厨房配备等现代化的家居设施。而分布在公寓31个楼层的329间户型多样的豪华居室，为不同条件的住户提供了多种需求。在2009年5月1日至7月31日期间入驻公寓的客人，还可以享受到公寓推出的多项夏季特惠措施。

        由于千禧公寓与千禧大酒店主体建筑相连，公寓住户也由此可以特别享用酒店内约3555平方米的豪华健身会所和水疗中心，并成为绿氧健身俱乐部会员。另外，连通公寓和酒店的财富购物中心即将盛大开业，为公寓住户带来“足不出户享受精彩”的全新体验。