Frasers Hospitality is on target to add three more properties in Oman and Saudi Arabia by next year, consolidating its presence in the Middle East as the leading premium serviced residence operator in the region.
This follows the Grand Opening of its third Middle East property, Fraser Suites Doha, in Qatar earlier.
A prominent new landmark on the Doha Corniche waterfront, Fraser Suites Doha is conveniently located in the heart of the city within close proximity of major corporate and government offices in the West Bay business district.
It offers 138 sophisticated luxury serviced apartments, elegantly fitted with lush interiors and extensive resident facilities.
Located in Qatar, the region’s burgeoning economic hub, Fraser Suites Doha is pivotal to the group’s expansion in the Middle East, where it has already established presence in Dubai and Bahrain.
The property has been enjoying high occupancy rates of more than 90 per cent since its soft opening in November last year.
An economic powerhouse with copious natural gas reserves, Qatar is the world’s richest country per-capita and is strategically located as a geographical hub within the Middle East.
Host to the 2022 FIFA World Cup, the government is investing US$17 billion into tourism infrastructure, which includes the construction of luxury hotels, resorts and meeting facilities as part of its five-year plan.
This will include the building of a new Doha International Airport and a cruise ship terminal to cater to the more than 50 million2 visitors that are expected to come through the country.
“With arrivals expecting to hit 1.4 billion in the region by 2030 according to the UN World Tourism Organisation, the Middle East will continue to be a key growth area for Frasers,” said Frasers chief executive Choe Peng Sum.
“Qatar with its strategic location and aggressive plans for economic development is an important piece of that Middle East puzzle.
Already the regional hub for conferences and exhibitions, it is expected to be a further catalyst for growth, particularly now with government structures becoming more open and progressive.
“Leveraging on our strong presence in the region to extend the Fraser reach throughout the Middle East, Frasers is well positioned to tap into the region’s business potential and respond to the increasing demand for premium serviced residences by expatriates and business travellers to the region.”
The properties currently in the pipeline to open in the Middle East by 2013 are Fraser Place Suhar, Oman, and Fraser Suites Edafah, Al Riyadh and Fraser Suites Edafah, Al Khobar in Saudi Arabia.
Frasers Hospitality’s current portfolio, including those in the pipeline, stands at 73 properties in 39 key gateway cities, and more than 12,200 apartments worldwide.