Malaysia: Frasers Hospitality Group has announced the opening of Fraser Residence Putrajaya in 2019.
The company's portfolio in Malaysia is set to increase to eight
properties with more than 2,400 units by 2019.
Located 20 minutes from the Kuala Lumpur International Airport, Putrajaya is next to Cyberjaya, a fully integrated high-tech business district known as the "Silicon Valley" of Malaysia, where a growing number of multinational corporations have established their global offices.
Putrajaya is well-linked to other commercial and residential areas within the Klang Valley through major expressways and is the venue for a number of large-scale sporting and cultural events, such as the Ironman 70.3 Triathlon, the Putrajaya International Hot-Air Balloon Fiesta and the Putrajaya International Islamic Arts and Culture Festival.
Choe Peng Sum, CEO of Frasers Hospitality Group, said: "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. 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."
Designed by award-winning multidisciplinary design firm Bates Smart, the 253-unit Fraser Residence Putrajaya faces the Putrajaya Lake, which marks the centre of the precinct.