Sep 01, 2016
Frasers Hospitality, 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.
An “intelligent garden city” located in the Klang Valley, Putrajaya is well on its way to becoming the green, innovative and connected city it was designed to be, with flourishing tourism, e-business industries and a diverse economy. Only 20 minutes from the Kuala Lumpur International Airport, Putrajaya is located next to Cyberjaya, a fully integrated high-tech business district known as the “Silicon Valley” of Malaysia, where a growing number of multinational corporations have established their global offices. Putrajaya is well-linked to other commercial and residential areas within the Klang Valley through major expressways and is the venue for a number of large-scale sporting and cultural events, such as the Ironman 70.3 Triathlon, the Putrajaya International Hot-Air Balloon Fiesta and the Putrajaya International Islamic Arts and Culture Festival.
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 stepped foot in Malaysia with the opening of Fraser Place Kuala Lumpur in 2010, followed by the opening of Capri by Fraser, Kuala Lumpur / Malaysia in 2014 and Frasers Hospitality’s largest serviced residence, the 446-unit Fraser Residence Kuala Lumpur, in 2015. The positive demand for its offerings in Malaysia has been reflected in the steady occupancies of more than 85 percent across the board, and the prestigious accolades received which most recently include 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 properties in more than 80 cities and 22,800 keys worldwide.