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Capri by Fraser transacted at S$203.4m

Frasers Centrepoint unit acquires serviced apartment-hotel hybrid property from Ascendas-Frasers Centrepoint JV; asset expected to be offered to FHT

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The nearly S$650,000 per room for the 313-room Capri by Fraser, Changi City is reflective of the market, says Chestertons' Mr Han, given the location, 54-year remaining tenure and the asset's performance having stabilised.

Singapore

A UNIT of Frasers Centrepoint Limited is paying S$203.4 million for Capri by Fraser, Changi City.

The price translates to nearly S$650,000 per room for the 313-room "hotel residence" - or a serviced apartment- hotel hybrid - which is on land with a balance lease term of