Frasers Hospitality to develop new serviced residence in Ginza, Tokyo for S$250m

FRASERS Hospitality, a division of Frasers Centrepoint, announced after market hours on Tuesday that it is pumping S$250 million to develop a new serviced residence in Tokyo's Ginza district.

This will be launched under the group's millennial-focused hotel residence brand Capri by Fraser and is expected to open around 2020.

It is just a two-minute walk from the main shopping street of Chuodori and a four-minute walk from the Shimbashi Station, providing guests with a quick and convenient route to the CBD just two stops away. It will also be close to the Shiodome City Center.

Sitting on prime freehold land, Capri by Fraser, Ginza will have close to 200 rooms as well as social spaces designed to offer seamless connectivity between work and play. When it opens, it will complement Fraser Suites Akasaka, which is scheduled to open in 2020. Designed by the world-renowned Hirsch Bedner Associates, the latter will offer luxurious studio and one-bedroom apartments at a central downtown location, surrounded by Tokyo's main transportation hubs and foreign embassies, said Frasers Hospitality.

Choe Peng Sum, chief executive officer of Frasers Hospitality, said: "The country continues to be a priority market for us and we are looking to extend our footprint not just in Tokyo but also other key cities in Japan."

Frasers Hospitality's global portfolio, including those in the pipeline, stands at more than 145 properties in over 80 cities with close to 23,000 keys.