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Fraser Suites Top Glory, Shanghai Opens
29 Oct 2008 - Shanghai, China

The prestigious property is located at the heart of the central business district facing Shanghai’s celebrated Bund

SINGAPORE, 29 October 2008 – Frasers Hospitality Pte Ltd (Frasers), the hospitality arm of property group Frasers Centrepoint Limited, today launched its gold-standard serviced residence located at the heart of Shanghai’s central business district. 

The five-tower Fraser Suites Top Glory, Shanghai with 317 luxuriously-furnished serviced residences is situated in the bustling Lujiazui CBD, with a commanding view of the city’s celebrated Bund. It is owned by COFCO, one of China’s most widely-diversified conglomerates and listed among Fortune Magazine’s Global 500 Companies.

Fraser Suites Top Glory, Shanghai is the eighth property under the Fraser brand in China; with another five to be opened by 2010. “In spite of the global economic issues, we are still extremely bullish about China,” says Mr Choe Peng Sum, CEO of Frasers Hospitality. “In fact, earlier we had announced 12 China properties by 2010 but as of now it is 13 and we are still signing on more properties.”

“China is simply the world’s largest growth engine. The tremendous growth of economies like China and India is an ‘internal support base’ for the rest of the Asian economies, and a buffer from the full impact of the economic malaise sweeping the world.”

“With its strong growth and high foreign direct investment, business travel in China has not been significantly impacted nor do we expect it to be.” The US Government’s US Commercial Service report on Shanghai says the city accounts for 1% of the country’s population but 5% of its GDP. “More importantly, Shanghai accounts for 10% of China’s contracted foreign direct investment which means that there is going to be a lot of international business travel growth for this part of the country,” said Mr Choe.

Shanghai is the industrial, financial, and commercial centre of China. It has a population of some 17.5 million, not including up to three million visitors who are in the city on any given day.

COFCO Chairman, Mr Frank Ning, said: “Fraser Suites is a very strong brand and has an unwavering focus on comfort, luxury, security and superb location for the business traveller. Fraser Suites Top Glory, Shanghai is such a prime property in a prime location in China’s most dynamic city, so the property and the brand are made for each other.”

Fraser Suites Top Glory, Shanghai provides five-star luxury and service and combines this with the space of an apartment, offering spacious two- three- and four-bedroom apartments and penthouses. Every apartment comes with living room, dining room and a fully-equipped kitchen and a comprehensive home entertainment system, broadband Internet access with full security including keycard access for elevators and in-room electronic safe. Every apartment is fitted with a clothes washer and dryer.

In addition, residents can enjoy a full range of facilities, including tennis courts, business centre, outdoor and indoor heated swimming pools, spa and fitness club complete with aerobics room, steam and sauna, an integrated café and lounge, library, games room, children’s playground and indoor playroom.

COFCO has diversified businesses including agri-trading, agri-processing, branded food products, residential and commercial real estate and even hotel management. The Group has two listed companies on the Hong Kong Exchange and four listed companies on Mainland China.

Besides Fraser Suites Top Glory, Shanghai, the Fraser brand is also found in Beijing, Shenzhen, Nanjing and will be in other cities like Tianjin, Guangzhou, Chengdu, Dalian, Suzhou, Xian, Chongqing, Hangzhou, Wuxi and Hong Kong.