Tag Archives: Overseas Property

Frasers flexing its muscles abroad

Posted on 5 Nov 2009 | Comments Off on Frasers flexing its muscles abroad

‘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

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Bank of Korea expected to up rates

Posted on 9 Oct 2009 | Comments Off on Bank of Korea expected to up rates

South Korea imposed new lending controls yesterday to cool its housing market, but the move failed to dent expectations that the central bank will raise interest rates soon to avert a property price bubble.

Upbeat exports and consumer spending data for September added fuel to rate rise speculation, hitting government bonds and lifting the won, with some players not ruling out a move even as soon today when the Bank of Korea holds its policy review.

Bonds cut their losses slightly after the Financial Supervisory Service said that it would limit mortgage lending by insurance firms and other non-banking institutions in Seoul and the surrounding areas.

But traders doubted lending controls alone would succeed in stopping a relentless house price rise, which the central bank has said could force it to raise interest rates, and stuck to their view that rates would go up before the year-end. Property prices in Seoul have risen 20 per cent since the start of the year. Continue reading →

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Posted in Loan / Mortgage / Finance, Overseas Property

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