The units will be available for rent in less than a year. The property is located in a prime location in the city, close to international companies, shops and restaurants.

VISIONAPARTMENTS already owns and operates a building in Zug, which has 54 studios and has been open since 2017.

Over the past few years, its occupancy rate averaged at 95 per cent, even during the COVID-19 pandemic.

“Over the past few years, Zug has become the Swiss Crypto valley and a prime location for emerging start-ups. The economic conditions in the city are extremely attractive for Swiss, but also international companies. This brings many business travellers to Zug, who appreciate the possibility to stay at a serviced apartment,” said Anja Graf, founder, CEO and chairwoman of VISIONAPARTMENTS.

The acqusition is the latest in a series of new additions for the company, including properties in Geneva, Basel and Bucharest.