Fraser Suites Riyadh - Penthouse Dining Room — Photo by Frasers
Fraser Suites Riyadh - Rooftop Pool — Photo by Frasers

Singapore -- Frasers Hospitality, a member of Frasers Property Group, today announced new openings in Saudi Arabia and Oman in 2018. The recent opening of Fraser Suites Riyadh and soon-to-open Fraser Suites Muscat join existing properties Fraser Suites Seef, Bahrain, Fraser Suites Diplomatic Area Bahrain, Fraser Suites Doha, Fraser Suites West Bay, Doha and Fraser Suites Dubai. With three more properties planned in Dubai, one in Jeddah, one in Al Khobar and one in Kuwait, Frasers Hospitality is set to double its footprint in the region to 13 properties over the next few years.

"It is timely for us to scale up in the Middle East. We have a loyal base of corporate customers and this has contributed to the success of our properties in Bahrain, Doha and Dubai, which are enjoying average occupancies of over 85%," said Mr Choe Peng Sum, Chief Executive Officer of Frasers Hospitality.

From now till 2020, the top three business travel markets in the Middle East are expected to be the UAE, Saudi Arabia and Qatar. Bahrain is also drawing large numbers of business tourists due to its hosting of conferences such as the World Islamic Banking Conference.

In a first for Saudi Arabia, the kingdom is planning to issue tourist visas from April as it pushes ahead with major economic and social reforms. A massive tourism project along its Red Sea coastline is also on the cards.

"Saudi Arabia is expecting more than 31 million tourist arrivals by 2027 as it commits to implementing Vision 2030, its most ambitious economic reform programme to date," Mr Choe pointed out.

Encouraged by such promising prospects, the newly opened Fraser Suites Riyadh aims to meet the needs of a growing financial district in the city where hospitality demands are largely driven by corporate clientele. Located in Olaya, it provides easy access to top business and entertainment establishments as well as landmarks such as Kingdom Centre, which boasts the most luxurious brands in Saudi Arabia.

With 95 fully furnished luxury serviced residences, Fraser Suites Riyadh features a range of accommodation options from studio apartments to two-bedroom penthouse suites. In a nod to holistic wellness, guests also have the convenience of a massage facility, an Olympic-size rooftop swimming pool, a 24-hour fully equipped gym, a library lounge and healthy eating options at two dining concepts.

"Both Saudi Arabia and Oman have been highlighted as countries that are leading the region in developing cultural tourism, with a number of world-class attractions being built," Mr Choe added.

In a landmark move into Oman, Frasers Hospitality will soon launch Fraser Suites Muscat, leveraging on the increase in tourism investment as Oman diversifies away from an oil-based economy. Scheduled to open in the second quarter of 2018, the 120-unit property boasts a prime location close to the upcoming Mall of Oman, the diplomatic area and Ghala industrial estate. Offering one-, two- and three-bedroom luxury apartments, residents have the choice of facilities such as a spa, fitness centre, rooftop pool and kids' playground.

Frasers Hospitality entered the Middle East with Fraser Suites Seef, Bahrain in 2009 and its portfolio has expanded to include Fraser Suites Diplomatic Area Bahrain, Fraser Suites Doha, Fraser Suites West Bay, Doha and Fraser Suites Dubai. The Group has been named as Middle East's Leading Serviced Apartments Brand and Best Serviced Apartment Company in the Middle East. The properties have also been individually awarded as Leading Serviced Apartments within the region.

As at 31 December 2017, Frasers Hospitality has equity interests in and/or manages over 16,000 units and has more than 8,000 units already signed up and pending openings. Its global footprint stands at more than 150 properties in over 80 cities.

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.

Jastina Balen
Frasers Hospitality Pte Ltd
+65 6415 0323
Frasers