19 | August | 2009 | Lush Dream Home

Daily Archives: 19 Aug 2009

Frasers to manage first New Delhi property in Oct 2010

Posted on 19 Aug 2009 | Comments Off

FRASERS Hospitality will manage its first Fraser Suites property in India’s capital, New Delhi.

The hospitality arm of Frasers Centrepoint, which is a wholly owned subsidiary of Fraser and Neave, signed a contract yesterday to manage the nine-storey, 90-unit Fraser Suites New Delhi. Scheduled to open in October next year, it is strategically located close to central New Delhi.

The signing brings the total number of Frasers- managed units to 585 in separate developments scheduled to open in India over the next three years. It underscores Frasers’ objective of achieving more than 700 units under management contract by 2011, making India Frasers’ second largest market globally. Only China is expected to be bigger.

‘Despite the impact of the global financial crisis on the real estate sector, there is still a critical shortage of high-end serviced residences accommodation,’ said Choe Peng Sum, chief executive officer of Frasers Hospitality. ‘In New Delhi, there is a current inventory of just over Continue reading →

Comments Off on Frasers to manage first New Delhi property in Oct 2010

Posted in Service Apartments

Tagged Fraser Suites New Delhi, Frasers Hospitality, Service Apartments

Yongnam, Lian Beng net multi-million dollar jobs

Posted on 19 Aug 2009 | Comments Off

TWO building companies, Yongnam Holdings Ltd and Lian Beng Group, yesterday announced multi-million dollar contracts, further boosting their order books.

Amid revived interest in the private residential property sector, construction group Lian Beng clinched a $101 million contract for the construction of Waterfront Key. The contract was awarded by FCL Peak Pte Ltd, a joint venture between Frasers Centerpoint and Far East Organization.

The contract covers the construction of 437 apartment units in eight 15-storey blocks, together with a basement carpark, swimming pool and other ancillary facilities. Work on Waterfront Key is expected to commence in the fourth quarter of 2009 and will be completed in three phases within 32 months.

‘This is a good start to our new financial year, as the private residential sector has been relatively quiet in the last few quarters. With the extremely positive response to recent property launches, we expect the demand for construction services from the private residential sector to pick up once again,’ said Ong Pang Aik, managing director of Lian Beng.

The latest contract win will boost Lian Beng’s order book to about $617 million. The group’s existing project portfolio includes the development of Kovan Residences, Amber Residences, The Ritz-Carlton Residences, Cairnhill Singapore and camp facilities at Kranji.

Meanwhile, Yongnam, a structural steel contractor and specialist engineering solutions provider, has won its ninth contract for the Marina Bay Sands Integrated Resort (IR). With the addition of the new contract valued at $38.7 million, Yongnam has clinched a total of over $340 million worth of contracts for the major development.

Said chief executive officer Seow Soon Yong: ‘This is certainly an added boost to our leading position in the industry and further encouragement Continue reading →