In Q2 2015, there were over 3,000 serviced apartment units across 79 projects in Ho Chi Minh City, with District 1 maintaining the largest market share at 40%. Occupancy rates remained stable at 84% across Grade A and B properties. Demand has increased for serviced apartments as a cost-effective long-term accommodation alternative to hotels. Outlook forecasts continued growth in demand over the next two years, driven by economic growth and foreign investment in Vietnam. The largest new supply in 2016 will be the 222-unit Ascott Waterfront Saigon project.