Frasers Hospitality, an international branded serviced residence management company, has signed an agreement to manage Fraser Suites Top Glory, Shanghai, thereby marking the company's first steps into one of China's most influential financial and commercial markets.
"Drawing strength from its strategic economic position within China, Shanghai is singled out by numerous multinational companies (MNCs) as a vital location for regional head offices. By the end of 2005, more than 120 MNCs received certification for their regional headquarters status. With China's entry into the World Trade Organisation (WTO), foreign direct investment in Shanghai alone grew by 19% from 2004 to 2005. Shanghai is therefore, a crucial network link for Frasers in extending our global footprints," said Choe Peng Sum, Frasers' Chief Operating Officer.
Fraser Suites Top Glory, Shanghai is scheduled to open in 2007 and sits on a prime location in Shanghai's Pudong New District, along the Huangpu River. In its vicinity are prominent district landmarks such as the Jinmao Building and the Oriental Pearl TV Tower. The Lujiazui MRT station is also a short distance away.
The 317 apartments are spacious and suite interiors are elegant and lavishly fitted with top-of-the line furnishings for a truly enriched experience. In catering to the unique needs of expatriates and extended-stay travellers and their families, residents at Fraser Suites Top Glory, Shanghai can also enjoy a broad range of in and outdoor recreational activities. Facilities such as an outdoor and indoor pool, steam and sauna room, Gym and aerobics room, tennis courts, driving range, children's play area as well as garden areas with BBQ pits further add to the experience of home, while landscaped roof top walk ways complete the experience.
In 2005, Shanghai's GDP was revised to RMB 914.4 billion, reflecting a 13.2% increase from 2004's figure, while its population of expatriates and travellers registered an impressive 24.1% growth between 2004 and 2003, doubling the figures recorded for years before.