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Daily Archives: 20 Aug 2009

Frasers opens serviced suites in Delhi

Posted on 20 Aug 2009 | Comments Off

FRASERS Hospitality has announced its first serviced apartments in India’s capital, as it moves to entrench itself further in a market that it sees as having potential topped only by China.

The nine-storey, 90-unit Frasers Suites is close to central New Delhi as well as Noida, an industrial-residential town across the Uttar Pradesh state border. It is scheduled to open in October next year, in time for the Commonwealth Games in New Delhi.

Frasers’ involvement in the New Delhi property follows its debut in the Indian market last November with the announcement of three properties in Bangalore. With the latest announcement, the total number of Fraser-managed residences to be available in India within three years will be 585. Fraser Suites New Delhi is being developed by India’s IFCI Infrastructure Development.

The deal with IFCI underscores the Singapore company’s bullish approach to the Indian market, where the government expects the economy Continue reading →

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Posted in Overseas Property, Property Market / Real Estate, Service Apartments

Tagged Fraser Suites New Delhi, Frasers Hospitality, India Property, Service Apartments

Mass-market site draws strong developer interest

Posted on 20 Aug 2009 | Comments Off

Hong Leong puts in top bid of $280 psf ppr for the plot in Pasir Panjang

An impressive 13 bids were received for a residential site at Chestnut Avenue in Bukit Panjang at the close of the tender yesterday, reflecting the renewed interest and the growing positive outlook among developers for mass market residential projects.

And the top bid of $143.7 million – or $280 per square foot per plot ratio (psf ppr) – put in by two companies in the Hong Leong Group stable was also much higher than expected by analysts, who had predicted a top bid of $200 psf ppr just a month ago.

Analysts said that developers are looking to restock their landbanks after selling a large number of homes – mostly in the mass market – over the past few months.

‘The level of interest shown by the bidders of this site at Chestnut Avenue indicate a growing appetite for mass market projects, especially so Continue reading →