SINGAPORE, 15 September 2005 — Fraser Serviced Residences, a subsidiary of Centerpoint Properties, the hospitality arm of Singapore’s Fraser and Neave, has signed an agreement with Seef Properties, the leading property development and management company in Bahrain to operate a new serviced residence in Manama Singapore’s senior minister, Goh Chok Tong, believes that closer ties between Asia and the Middle East will be mutually beneficial. As if to underline Goh’s belief, the two companies signed the agreement a day after Goh said this on TV.
In a ceremony witnessed by Singapore’s Minister of Transport, Mr. Yeo Cheow Tong, Choe Peng Sum, chief operating officer of Fraser Serviced Residences and Paul de Nicola, chief executive of Seef Properties, signed an agreement for the construction of Fraser Suites Seef, a new serviced residence that will be situated in the prestigious Seef District of Manama.
Its prime location will enable it to meet demands from companies in the area which are seeking quality, high standard serviced accommodation for their short- to medium-term visitors and their families.
Fraser Suites Seef will be operational in 2007 and will include 91 spacious apartments and penthouses. As well as providing amenities such as a spa, fitness facilities and an business meeting facility, residents will enjoy a panoramic view of Manama.
The new project is Fraser’s second venture into the Middle East. In May, Fraser Serviced Residences signed an agreement in Dubai. Fraser Serviced Residences has already established itself in countries in Asia and Europe and expansion into the Middle East seems to be the logical next step. Fraser’s Choe says, “With this huge potential, we are planning to operate not just in Dubai and Bahrain but throughout the Middle-East. We are targeting to open six Fraser properties in as many locations.”
