Frasers To Add Tokyo Property To Portfolio

Source : The Business Times, February 26, 2008

SERVICED apartment operator Frasers Hospitality is expanding its footprint in North Asia with a maiden project in Japan.

The group said in a press statement yesterday that it was adding Fraser Place howff Shinjuku, Tokyo to its portfolio as part of its plan to tap the lucrative Japanese premium serviced residences market.

The new property, which belongs to re-plus inc, is one of the largest serviced apartment projects in the country. The building's East Tower with 175 units is scheduled to open next month . A further 200 units in the West Tower will be ready by the second half of this year.

Frasers Hospitality said its latest project is located near the busy Shinjuku Station, in the heart of Tokyo's largest sub-centre and a key commercial, banking and entertainment district.

Fraser Place howff Shinjuku, Tokyo, is designed by Nikken Sekkei Ltd and CKR (Claesson Koivisto Rune Arkitkontor). It comprises one, two and three-bedroom apartments as well as triplex units.

Choe Peng Sum, Frasers Hospitality's chief executive officer, said the group's latest project was a milestone in its North Asian expansion plan as Japan was a key gateway city with foreign investments.

He said the group hoped to meet the demands of both local and foreign corporations for mid- to long-term stay facilities which combined the comforts of home with selected five-star hotel facilities.

Frasers Hospitality is the hospitality arm of Frasers Centrepoint, a wholly-owned subsidiary of the listed Fraser and Neave group.