Conglomerate Fraser and Neave says its Frasers Hospitality unit has established a significant presence in Malaysia, with the grand opening of its maiden property, Fraser Place Kuala Lumpur yesterday. The project is the first of two serviced residences to open in the heart of the city. Fraser Place Kuala Lumpur is located in the prestigious 'Golden Triangle' and within walking distance of the iconic...
Service Apartments
Service apartment operator Ascott Group plans to invest US$100 million over the next three years in Vietnam. The investment will double the number of its existing service apartments in that country to about 1,800. Currently, the company has about five existing service apartment properties under the Somerset brand in Hanoi and Ho Chi Minh city, offering about 900 units. Another three properties, with...
CapitaLand's wholly-owned serviced residence business unit, The Ascott, said it has secured a contract to manage its second Citadines serviced residence in Indonesia. The contract was awarded by state-owned enterprise P-T Hutama Karya Persero. But it did not reveal to the value of the contract. Called Citadines Jakarta Rasuna, the 135-unit property is scheduled for completion by next year. It is...
CapitaLand's wholly-owned serviced residence business unit, The Ascott said it has been awarded a contract to manage a serviced residence in Danang, Vietnam's fourth largest city. The contract was awarded by the Korea Investment and Development Company, a real-estate consortium that specialises in commercial and residential developments across major cities in Vietnam. The serviced residence will be named...
Frasers Hospitality is expanding its presence in the Middle East. It has opened its Fraser Suites Seef Bahrain in the kingdom's business and entertainment district. The 19-storey property has 91 one or two bedroom suites and three penthouses. Frasers said is the only international-class accommodation with direct access to the city's exclusive Seef Mall. The property in Bahrain is the first of five that...
CapitaLand's wholly-owned serviced residence business unit The Ascott will open its second Citadines property in Japan on March 8. The new Citadines Kyoto Karasuma-Gojo follows the successful opening of Ascott's first Citadines serviced residence in Japan, the Citadines Tokyo Shinjuku, in March last year. The 124-unit serviced residence is a short walk from Kyoto's business district and tourist belt,...
CapitaLand's wholly owned serviced residence unit, The Ascott, said it is making a foray into the Eastern European market. It's opening a property called Citadines Tbilisi Freedom Square in Tbilisi, Georgia. Ascott said the property is the first international serviced residence to operate in Georgia. It added that the property consolidates and strengthens Ascott's presence in Europe, where it already...
CapitaLand's wholly-owned serviced residence business unit, The Ascott, has launched its first Citadines serviced residence in Malaysia. The property, called Citadines Kuching Uplands, is scheduled for completion by the first half of 2012. It is located in the Jalan Simpang Tiga area, which is set to be a hub for education and local federal government administration offices. With the latest launch,...
CapitaLand's serviced residence unit, Ascott, has clinched a contract to manage its third service residence in Xi'an, China. No financial details of the contract were given. The Citadines Xi'an Xingqing Palace is slated to open in 2011. The property will offer 160 studio apartments, each with a fully-equipped kitchen, an en-suite bathroom and a separate work area. Ascott's two other serviced residences...
Capitaland's wholly-owned serviced residence business unit, The Ascott Group, has opened its fifth serviced residence in Beijing. It is also the first time an Ascott serviced residence has partnered with Raffles City to offer an integrated lifestyle development comprising a retail mall, an office tower and a serviced residence. Located in Dongcheng District, the new serviced residence is near the Second...