Frasers Hospitality Group Strengthens Malaysia Footprint with the Addition of Fraser Residence Putrajaya
Singapore -- Frasers Hospitality Group, a division of Frasers Centrepoint Limited, will be launching its first Gold-Standard serviced residence in the federal administrative centre of Malaysia with the opening of Fraser Residence Putrajaya in 2019. This will add to its growing portfolio in Malaysia which is targeted to increase to eight properties with more than 2,400 units by 2019.
Mr Choe Peng Sum, Chief Executive Officer of Frasers Hospitality Group, said: "The addition of Fraser Residence Putrajaya to our portfolio places us in four prominent cities across Malaysia, which is one of Asia's fastest-growing economies. The next three years will see the launch of more than 10 commercial developments with offices, shopping malls, F&B and entertainment offerings within the area. Furthermore, under its Economic Transformation Programme, Malaysia plans to transform the Klang Valley into one of the world's top investment destinations by attracting 10 multinational companies a year to establish its operations there. This will increase the demand for short to long-term serviced accommodation by foreign diplomats, expatriates, business executives and their families, and we will be well positioned to meet that need," he added.
Located strategically between Putrajaya and Cyberjaya, the 253-unit Fraser Residence Putrajaya faces the Putrajaya Lake, which marks the centre of the precinct. A Gold-standard serviced residence with contemporary and minimalist theme, Fraser Residence Putrajaya is designed by award-winning multidisciplinary design firm, Bates Smart. Fraser Residence Putrajaya enjoys unobstructed waterfront views and easy access to restaurants, retail outlets and offices within its mixed-use development, as well as other dining options, supermarkets, schools and a hospital located within the area.
Frasers Hospitality Group commenced operations in Malaysia with the opening of Fraser Place Kuala Lumpur in 2010, followed by the opening of Capri by Fraser Kuala Lumpur in 2014 and Frasers Hospitality Group's largest serviced residence, the 446-unit Fraser Residence Kuala Lumpur, in 2015. The positive demand for its offerings in Malaysia is reflected in the steady occupancies of more than 85 percent across the properties, and the prestigious accolades received including the most recent Travellers' Choice Awards by TripAdvisor for Fraser Place Kuala Lumpur and Capri by Fraser Kuala Lumpur, as well as Malaysia's Leading Serviced Apartments 2015 by World Travel Award for Fraser Residence Kuala Lumpur.
Frasers Hospitality Group's global portfolio, including those in the pipeline, stands at 139 properties3 in more than 80 cities and 22,800 keys worldwide.
About Frasers Property Limited
Frasers Property Limited ("Frasers Property" and together with its subsidiaries, the "Frasers Property Group" or the "Group"), is a multi-national owner-operator-developer of real estate products and services across the property value chain. Listed on the Main Board of the Singapore Exchange Securities Trading Limited ("SGX-ST") and headquartered in Singapore, the Group has total assets of approximately S$38.7 billion as at 31 March 2020. Frasers Property's multi-national businesses operate across five asset classes, namely, residential, retail, commercial & business parks, industrial & logistics as well as hospitality. The Group has businesses in Southeast Asia, Australia, Europe and China, and its well-established hospitality business owns and/or operates serviced apartments and hotels in over 70 cities across Asia, Australia, Europe, the Middle East and Africa. Frasers Property is also the sponsor of two real estate investment trusts ("REITs") and one stapled trust listed on the SGX-ST. Frasers Centrepoint Trust and Frasers Logistics & Commercial Trust are focused on retail, and industrial & commercial properties respectively. Frasers Hospitality Trust (comprising Frasers Hospitality Real Estate Investment Trust and Frasers Hospitality Business Trust) is a stapled trust focused on hospitality properties. In addition, the Group has two REITs listed on the Stock Exchange of Thailand. Frasers Property (Thailand) Public Company Limited is the sponsor of Frasers Property Thailand Industrial Freehold & Leasehold REIT, which is focused on industrial & logistics properties in Thailand, and Golden Land Property Development Public Company Limited is the sponsor of Golden Ventures Leasehold Real Estate Investment Trust, which is focused on commercial properties. The Group is unified by its commitment to deliver enriching and memorable experiences to customers and stakeholders, leveraging its people, knowledge and capabilities from across markets to deliver value in its multiple asset classes For more information on Frasers Property, please visit frasersproperty.com.
About Frasers Hospitality
Frasers Hospitality, a member of Frasers Property Group, celebrates 22 years of offering memorable experiences to guests through its Gold-Standard serviced, hotel residences and boutique lifestyle hotels across Asia, Australia, Europe, the Middle East and Africa. Growing from two properties in Singapore to more than 140 properties in over 70 cities, Frasers Hospitality is now one of the world's largest and fastest-growing providers of serviced and hotel residences. Conceived with the lifestyle preferences of today's discerning business and leisure travellers in mind, the global hospitality operator has three Gold-Standard serviced residences offerings - Fraser Suites, Fraser Place and Fraser Residence, a modern and eco-lifestyle brand, Modena by Fraser, and a design-led hotel residence brand, Capri by Fraser. In addition, it operates two brands of upscale boutique lifestyle hotels in the key cities of UK, Malmaison and Hotel du Vin. With a remarkable list of accolades and awards as recognition of its success, Frasers Hospitality remains committed to anticipating the evolving needs of executive travelers and exceeding expectations with continuous innovation and intuitive service, creating a second home for guests where staff feel like family and residents feel like community. For more information on Frasers Hospitality, please visit frasershospitality.com.
Phone: +65 9144 8476