Bookmark & Share
Frasers Hospitality on Friday (21 August) announced the acquisition of a serviced residence property in Dalian, northeast of China for a purchase price of RMB481.37 million (S$100.29 million).
Located in Donggang CBD within walking distance to Dalian Port and Davos Conference Centre, the 259-unit Frasers Suites Dalian will form part of the mixed-use Europark Tower development, which comprises a 100,000sqm lifestyle shopping mall, designer offices and luxury residential apartments.
The serviced residence is expected to open in 2017 and is part of the company’s efforts in gearing towards its global target of 30,000 keys by 2018/19. Frasers Hospitality’s global portfolio, including those in the pipeline, stands at more than 21,000 keys spread across 129 properties in 77 cities worldwide.
Image: Artist’s impression of Frasers Suites Dalian within the Europark development. (Source: Frasers Hospitality)
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg
Related Articles:
Cloudy outlook for retail property sector
Singapore among biggest Asian investors in global properties