Frasers Hospitality has expanded its presence in China with the opening of the 360-unit Frasers Suites Chengdu (pictured).
This will be followed by the opening of another five properties by the end of this year.
“Our strategy will be to continue to strengthen our presence across China to meet the demand for premier international serviced residences both in primary as well as burgeoning secondary high-growth cities like Chengdu, where foreign direct investment and tourism are expected to increase exponentially in the next few years,” said Choe Peng Sum, Chief Executive of Frasers.
The five properties located in Beijing, Guangzhou, Shanghai, Wuhan and Wuxi, will see the firm manage a total of 23 properties across China by 2016.
Choe said the opening of the serviced residence is a “clear reflection of the confidence we have in China’s dynamic growth, which we are very excited to be a part of.”
Frasers Suites Chengdu forms part of an integrated development comprising commercial spaces and a range of luxury retail and lifestyle facilities. It is located in the city’s commercial centre, between Tian Fu Square and the central business district.
Related Stories:
Exam, license fees for HK agents unchanged
China’s property stocks fall as sales decline
Foreigners ‘own 30% of Thai land’