Frasers Hospitality to manage New Premier Serviced Apartments in Hong Kong

Frasers Hospitality, a global serviced residence owner and management company, and Harvest Capital Partners, a boutique investment firm specializing in real estate investment funds, are to open a Fraser Suites in Hong Kong this August.

Located in the heart of Hong Kong island's Wanchai business and entertainment district at 74-80 Johnson Road, Fraser Suites Hong Kong occupies a 23-storey building owned by Harvest Capital Partners and designed exclusively by renowned architects KplusK associates.

"We are delighted to be working with Harvest Capital Partners to grow the Fraser brand in Hong Kong. The company owns an impressive collection of properties and this Wanchai development is one of the real jewels in its portfolio as it occupies an enviable site, located within easy access to many key commercial buildings," said Mr. Choe Peng Sum, Chief Executive Officer, Frasers Hospitality Pte Ltd.

Along with a number of unique features within Fraser Suites Hong Kong such as a current jet pool, whirlpool, gymnasium, outdoor and rooftop terraces, the property is also close to one of Hong Kong's main entertainment districts - something that will strike an appealing chord with busy executives looking to unwind.

With open views of the city, Fraser Suites Hong Kong has 87 apartments ranging in size from 422 to 883 square feet. Access to Wanchai MTR station is just one minute away and only 10 minutes from Pacific Place, Central Plaza, the Hong Kong Convention & Exhibition Centre and other key commercial buildings.

Each apartment has a separate living and dining room, a modern kitchen, and bedroom together with the latest in-apartment technologies including a flat screen LCD TV, iPod docks, wireless Internet access, and washer-dryers.

"Hong Kong is a key gateway city and fits superbly with our current strategy of enlarging our presence in all major markets. The Fraser brand already has a strong presence in Beijing, London, Paris, Seoul, Singapore, Sydney and Tokyo, and now Hong Kong joins our global footprint," added Choe.

According to research conducted by DTZ Research and commissioned by Harvest Capital Partners, as Hong Kong is in the midst of a continuous 7-8% year-on-year growth in the financial, insurance, real estate sectors, demand for serviced apartments continues to remain very healthy with nearly 100% occupancy rates being driven by limited supply.

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