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With the addition of a Beijing property last month, boutique serviced apartment specialist Shama is on track to achieve an ambitious three-year growth target for the region.
The new Chang An Avenue location adds to the two established in Shanghai, and another mainland property in Dalian will open in October this year, the 12th in the company's portfolio, bringing the total number of apartment units under management to 1,165.
Shama expects to secure contracts that will boost this figure to 10,000 apartments in 50 locations by 2011, an eight-fold growth that would make it the region's market leader.
Chief operating officer Bhupesh Yadav, a veteran of the hospitality industry, said it had been rapid progress since Morgan Stanley Real Estate and Gateway Capital became majority shareholders in 2006.
'We've achieved six-fold growth in the last year alone, and to reach 10,000 units is a challenging target, but it is a realistic one,' said Mr Yadav.