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Press Releases

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Fraser Corporate Residences in Shenzhen Opens For Business
30 Jan 2005 - Shenzhen, China

Located at the heart of the CBD, it will offer customised services to business travelers and expatriates

Shenzhen, China 30 January 2005 – Fraser Serviced Residences today announced the official opening of Fraser Corporate Residences, Futian in the Chinese city of Shenzhen.

The 35-storey deluxe complex houses 165 units comprising one, two and three bedroom apartments. Centrally located in the heart of the city’s central business district, it offers a panoramic view of the city. It is also at close proximity to the new Xiang Mi Hu mass rapid transit railway station, and within walking distance to convenient stores and restaurants.

“True to the Fraser brand of meeting needs, Fraser Corporate Residences, Futian is strategically located in the prime commercial and business area, making it extremely
convenient for business travellers and expatriates working in Shenzhen” said Mr Choe Peng Sum, Chief Operating Officer of Fraser Serviced Residences.

The property is owned by Shenzhen Qinian Industry & Development Co Ltd, a subsidiary of the Tianhong Group - one of the largest property developers in Beijing with considerable investments in Shenzhen.

“Fraser Serviced Residences is a global leader in the extended stay market, and we are very excited about this partnership,” said Mr Zhang Jing Yu, Director General Manager of Shenzhen Qinian Industry & Development Co. Ltd, “Fraser understands the oriental philosophy of hospitality and combines this with contemporary branding and marketing initiatives for good results.”

Besides its ideal location, Fraser Corporate Residences, Futian will offer business travellers and expatriates on extended stay assignments customised services to cater to their unique needs.

“Many extended stay guests require the extra space, but they also want conveniences like housekeeping, laundry and home maintenance,” Mr Choe said. “At Fraser Corporate Residences, Futian, we provide menu-driven services that can be customised to meet each resident’s unique needs.”

Residents can look forward to personalised housekeeping and baby-sitting services, laundry and dry cleaning, 24-hour security and concierge services, complimentary breakfast and shuttles to key city areas as well as special residents’ programmes catered to every member of the family. The deluxe complex also features BBQ facilities, a gymnasium, rooftop spa and outdoor and indoor swimming pools.

Each apartment at Fraser Corporate Residences, Futian comes fully furnished with an extensively equipped kitchen area. To meet the communication and entertainment needs of guests, all apartments also have broadband Internet access, cable television and a suite of home entertainment facilities like VCD and DVD players.

“We see immense potential for Fraser’s serviced residences in Shenzhen,” said Mr Choe.

“The city is now linked to Hong Kong’s international airport by direct daily ferry services. A new bridge connecting Shenzhen to Hong Kong Island will also be built soon. This improvement in infrastructure will certainly facilitate a more vibrant economy for Shenzhen and increase the number of business travellers there.”

For the twelfth straight year, the Shenzhen economy has ended the year 2004 ahead of other large and medium-sized Chinese cities in terms of foreign trade. Local customs statistics show that the city had US$147.31 billion worth of foreign trade in 2004, up 25.5 per cent1 on a year-on-year basis.

Business travel in China is also looking good. The American Express Global Business Travel Forecast for 2005 indicates a continued revival of the global business travel industry. The International Air Transport Association says that China is expected to be the world’s fastest growing market for air travel, forecasting an average annual growth of 12.5 per cent until 2008 versus a global growth of 6 per cent2.

Besides Shenzhen, Fraser also manages gold-standard serviced residences in Singapore, Manila, Seoul, Thailand, London, Paris and Glasgow. The company plans to expand in cities like Beijing, Shanghai, Sydney, Bangkok, Calcutta, Dubai, Leeds, Manchester and Barcelona.