Onyx Hospitality Group has signed a management agreement with Junson Capital for a new project in Chengdu, China, under its Shama serviced apartment brand. This new development brings the group’s total number of properties in the region to 61, including 20 in the pipeline.
Located in the Tianfu New Area—the state-level development zone in Sichuan province—the Shama Xiangnanli Chengdu will be a 252-room serviced apartment complex close to the Xiangnanli retail area. Both the new-build complex and the shopping center are expected to open in 2017.
“Being the economic, financial and commercial hub of western China, Chengdu is one of the world’s fastest-growing cities. It is not only home to the giant pandas, but also a city in which more than half of the Fortune Global 500 companies have built their presence,” Tommy Lai, VP of North Asia for Onyx Hospitality Group, said in a statement. “As more and more global and national companies are establishing businesses in Chengdu, we see the demand for serviced apartments offerings.”
Shama’s portfolio includes 17 serviced apartments across Asia. Beyond the Shama Xiangnanli Chengdu, other serviced apartments in development are Shama Pazhou Guangzhou and Shama Daqing Heilongjiang, both scheduled to open in 2017, as well as Shama Medini Iskandar, Shama Caojiadu Shanghai, Shama Yanglin Beijing and Shama Lite Tianfu Chengdu, all slated to open in or after 2018.