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25 Jul 2006 - Tokyo, Japan
Fraser Place is targeted to open in third quarter 2007 in trendy Shinjuku
Singapore, 25 July 2006 – Frasers Serviced Residences (Frasers) today signed the Management Agreement for Fraser Place, Howff Shinjuku - Tokyo. Scheduled to open in third quarter 2007, the Frasers residence will feature 182 residences including SOHO concept apartments.
Fraser Place Shinjuku further increases Frasers’ portfolio in major gateway cities across the globe. Recent announcements include Frasers’ second Seoul residence, Fraser Place Central Seoul – making them the biggest international serviced residence brand in Korea, and Frasers’ second residence in Paris. Frasers also announced a major tie-up with Global Investment House to manage up to seven new residences in Middle East, adding to its developments in Bahrain and Dubai. In October this year, Frasers will be launching Fraser Suites Sydney.
Fraser Place Shinjuku is close to the Shinjuku station and the business and shopping district. Highlighting a "cool gorgeous" theme, each residence includes fully equipped gourmet kitchen and living space with state-of-the-art entertainment systems. For the more active there is a fully fitted gymnasium with the latest fitness equipment. The 22-storey residence features unsurpassed convenience with "lifestyle" retail outlets and adjoining retail mall for the utmost experience in shopping convenience.
Japan has seen success in regard to FDI standing at US$100.9 billion at the end of 2005. This represents an 80% increase over 2001 when Prime Minister Koizumi pledged to double FDI within five years. There is also a concerted effort to make it easier for foreign nationals to live and work in Japan, bearing out the success of both initiatives, the number of registered foreign residents in Japan at the end of 2005 totalled roughly 2,011,500, surpassing the 2 million mark for the first time ever.
Commenting on the future of serviced residences in Japan, re-plus inc. CEO and Representative Director, Mr Hirofumi Kang noted, "There is an increasing acceptance of international expatriates in Japan which is fuelling demand for convenient and flexible solutions for expatriate housing. Demand for such full-serviced residences by these expatriates and affluent Japanese is strong. With a strong international brand and excellent service I believe Frasers is a perfect match for the Japanese belief in excellence".
Commenting at the signing ceremony, Frasers Chief Operating Officer, Mr Choe Peng Sum said, "Globally we aim to have a presence in major key gateway cities, this development brings us one step closer to this goal. That it should be in such a vibrant and energetic locale as the Shinjuku district is fitting testament to the vitality of the Frasers brand. In line with the vision to expand our footprints, we hope to increase our portfolio significantly in Tokyo and central Japan".
Frasers has successfully established a strong reputation for excellent service and high quality facilities. Frasers manages a portfolio of residences spanning across the globe, from Singapore to Bangkok, Glasgow, London, Manila, Paris, Seoul, Shenzhen, and further new developments in Bahrain, Dubai, Shanghai and Sydney. In addition to an impressive list of management and service awards, Frasers is a recipient of the Singapore Service Class award and Excellent Service Award. Both awards recognised the Frasers’ philosophy of treating residents as more than just guests, instituting procedures that enable staff to display initiative and deliver heartfelt service.