Frasers Hospitality, the serviced apartment operator, has continued to expand its portfolio in Malaysia with the signing of its first property in Putrajaya, the country’s federal capital.
Scheduled to open in 2019, the new Fraser Residence Putrajaya will offer 253 serviced apartments with views of the lake. It will form part of a mixed-use complex also featuring restaurants, shops and offices. A planned city, Putrajaya is located 20 minutes’ drive from Kuala Lumpur International Airport.
Choe Peng Sum, CEO of Frasers Hospitality, said the new property formed part of a strategic expansion of the company’s Malaysian portfolio.
“The addition of Fraser Residence Putrajaya to our portfolio places us in four prominent cities across Malaysia, which is one of Asia’s fastest-growing economies,” said Choe. “The next three years will see the launch of more than 10 commercial developments with offices, shopping malls, F&B and entertainment offerings within the area.
“Furthermore, under its Economic Transformation Programme, Malaysia plans to transform the Klang Valley into one of the world’s top investment destinations by attracting 10 multinational companies a year to establish its operations there. This will increase the demand for short to long-term serviced accommodation by foreign diplomats, expatriates, business executives and their families, and we will be well positioned to meet that need,” he added.
Frasers entered Malaysia in 2010 with the opening of Fraser Place Kuala Lumpur in 2010, and has since added two more properties in KL: Capri by Fraser Kuala Lumpur and Fraser Residence Kuala Lumpur. In addition to the Putrajaya signing, Frasers has four other properties in its Malaysian pipeline, located in KL, Penang and Johor Bahru.