Frasers Hospitality, a member of Frasers Property Group, has invested S$250 million (US$188 million) to develop two new serviced residences in Tokyo’s Ginza and Akasaka districts.
Capri by Fraser, Ginza / Japan, to launch under the group’s millennial-focused hotel residence brand Capri by Fraser, will have close to 200 rooms, as well as social spaces such as a lobby bar. It will be situated near Ginza, with the Chuo-dori shopping street, Shimbashi Station and the Shiodome City Center located in the vicinity.
Fraser Suites Akasaka, designed by Hirsch Bedner Associates, will offer luxurious studio- and one-bedroom apartments at a central downtown location surrounded by Tokyo’s main transportation hubs and foreign embassies.
Both properties are scheduled to open in 2020.
“Frasers Hospitality is no stranger to the Japanese market. We opened Fraser Residence Nankai, Osaka in 2010. 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,” said Choe Peng Sum, Frasers Hospitality’s CEO.
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.