Alan Tang, chief operating officer of Frasers Hospitality Group, said Thailand was an ideal market for the introduction of its Modena by Fraser brand, which appeals to socially conscious people who seek form and function.
Modena by Fraser has proved to be successful as an affordable and stylish serviced-residence offering in China, he said.
"As we develop this brand further with an emphasis on eco-friendliness and sustainability, travellers to Bangkok will benefit from the rejuvenation of this brand, which advocates a green approach to modern serviced-residence living."
He added that the growth of Modena by Fraser was in line with the company’s overall strategy to have 30,000 units in place within four years.
"Together with our other brand offerings – Frasers serviced residences, Capri by Fraserhotel residences and Malmaison and Hotel du Vin lifestyle boutique hotels – it allows us to cater to a wider spectrum of travellers in each market."
Golden Land Property Development president Thanapol Sirithanachai said construction of FYI Center began in the fourth quarter of last year and was 85 per cent complete. It is expected to be completed by December and open for use in mid-2016.
FYI Center has already leased out 50 per cent of its total tenant area before completion, which is a first for any project in Thailand, Thanapol said.
Modena by Fraser will comprise 239 studio and one-bedroom units and will be part of the eco-friendly mixed-use FYI Center development.
FYI Center offers flexible office space and retail outlets as well as bicycle-friendly facilities. It is located at the corner of bustling Rama IV Road directly opposite the Stock Exchange of Thailand, with links to the Queen Sirikit National Convention Centre.
Modena by Fraser is expected to launch in mid-2016 and will open for business at the same time that FYI Center becomes fully operational.
Published : October 26, 2015
By : The Nation