Frasers Hospitality has
signed a contract to manage its first Fraser Suites property in
India’s capital, New Delhi.
Located close to Central Delhi, the nine-storey, 90-unit Fraser Suites New Delhi
is scheduled to open in October next year.
The eco-friendly superstructure is based on the Vastu Energy Grid, aimed at
optimising the use of solar energy for lighting, heating and
Situated in the Mayur Vihar area, it is
part of a newly developed business hub comprising a mall,
commercial offices and hotels with direct access to the Metro
Amenities include a fully-equipped business
centre, health club and spa, swimming pool with pool deck,
outdoor whirlpool, a wellness bar, retail offerings, café and
The signing brings the total number of
Frasers-managed units to 585 in separate developments scheduled
to open in India over the next three years. It underscores
Frasers’ objective to achieve a target of more than 700
individual units under management contract by 2011, elevating
India to Frasers’ second largest market globally. Only China is
expected to out-pace India’s rapid pace of development.
“Despite the impact of the
global financial crisis on the real estate sector, there is still
a critical shortage of high-end serviced residences
accommodation. In New Delhi, there is a current inventory of
just over 11,000 rooms as against the demand for about 35,000
guest rooms for the Commonwealth Games in 2010,” said Mr. Choe
Peng Sum, Chief Executive Officer of Frasers Hospitality.
“As our Gold-Standard residences gain in popularity worldwide we
look forward to making a significant contribution to upscale
accommodation needs in India, particularly given the increase
in business travellers to key cities throughout the country.”
All Frasers-branded properties provide five-star-type luxury combined with the space of an apartment. It comes with
separate living and dining rooms and fully-equipped kitchen,
complete with clothes washer and dryer.
In addition, residents can
enjoy a full range of facilities, including all-day dining, a
business centre, swimming pool and fitness club.
New Delhi is being developed by IFCI Infrastructure Development
Limited (IIDL) as an institutional endeavour. IIDL is a
subsidiary of the first Development Financial Institute of the
country that is IFCL, (formerly Industrial Finance Corporation of
India) which has spearheaded commercial and industrial
development throughout India.
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