Frasers Hospitality is to open a 212-unit serviced apartment property in premium spot in Shanghai within 18 months, making it the city’s largest international operator in the sector.
Fraser Place Shanghai will be a 23-storey property, adjacent to the Bund, and will follow the neo-classical design style of the famous Shanghai riverside area.
Shanghai’s pre-eminent commercial role in China’s strong economic performance continues to draw foreign business people for long-term stays and secondments, creating substantial demand for serviced apartments.
The new apartments will have deluxe facilities, including a large gymnasium, yoga and steam rooms, game rooms, pool table and an underground pool with natural light.
A daytime coffee bar in the lobby will be transformed into a wine bar by night and speciality teas will also be available at a tea lounge on the mezzanine floor.
Catering for the high-end guest, the Fraser Place Shanghai has two four-bedroom penthouses each with their own outdoor heated pools, landscaped patios, comprehensive gyms, Jacuzzi and steam rooms. There’s also a customised children’s playroom.
The new opening will bring Frasers’ portfolio in Shanghai alone to 1,271 residences. Other city properties are the 317-apartment Fraser Suites Shanghai in Lujiazui, Pudong, opposite the Bund and the 278-unit Fraser Residence Shanghai.
In addition, Frasers will also manage the 63-apartment Portman House, a conservation development in Shanghai’s French Concession.
The company currently operates 4,171 apartments in nine major cities in China; Beijing, Chengdu, Guangzhou, Hongkong, Nanjing, Shanghai, Shenzhen, Suzhou and Tianjin.