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Daily Archives: 5 Nov 2009

Frasers flexing its muscles abroad

Posted on 5 Nov 2009 | Comments Off

‘S not the first time Frasers Hospitality has hit the expansion trail in the middle of a recession.

Global presence: Frasers has a presence in nine key cities in North Asia, South-east Asia, Europe, the Middle East and Australia

Back in 1998 when the Asian financial crisis was wreaking havoc on business, the high-class service apartment owner and operator opened its first two apartments in Singapore.

Recently, with business stuck in a global slump, Frasers signed a deal to run a 212-room apartment complex in Shanghai.

It also made its debut in the Middle East – in Dubai and Bahrain – early this year and opened its second service apartment project in Scotland.

In May it launched an apartment project in Singapore. Also on track to be rolled out this year is its first Malaysian property, Fraser Place in Kuala Lumpur.

And that’s not all. In July, Singapore-based Frasers unveiled a second brand, Modena, to cater to road warriors – professionals who spend most of their time on the road. Continue reading →

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Posted in Developers, Service Apartments

Tagged Frasers Hospitality, Overseas Property, Service Apartments

UK residential market better: Taylor Wimpey

Posted on 5 Nov 2009 | Comments Off

Taylor Wimpey plc, the UK’s largest homebuilder by market value, said that the average price of homes on order rose 9 per cent from the first half as the market continues to be ‘significantly better’ than last year.

The company has opened 22 more sales sites so far in the second half, London-based Taylor Wimpey said yesterday in a statement. Cancellation rates have fallen to 16 per cent, from 19 per cent in the first half, it said.

Evidence is growing that the country may have exited its worst property slump in 25 years. Mortgage lender Halifax, a division of Lloyds Banking Group plc, said on Tuesday that home values climbed by 1.2 per cent last month, after gaining 1.5 per cent in September.

‘We didn’t experience the usual seasonal industry slowdown over the summer, and sales rates have remained solid into the autumn,’ chief executive officer Pete Redfern said in an interview. He said that data from mortgage lenders Halifax and Nationwide Building Society tend to exaggerate price increases and decreases, and said that he sees ‘a solid, stable market’, but nothing more. Continue reading →