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2007-9-20 08:39:00 a.m. HKT, XFNA
Singapore's Frasers buys Beijing property from Sino-Ocean for 130 mln
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usd-report
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BEIJING (XFN-ASIA) - Frasers Hospitality has purchased a Beijing luxury
residential project from Sino-Ocean Land Holdings for 130 mln usd, the South
China Morning Post reported, citing Frasers Hospitality chief executive Choe
Peng Sum.
""This is our first acquisition in Beijing,"" Choe said.
Over the next 12 to 18 months, the Singapore-based serviced residence
management firm hopes to operate in 10 Greater China cities including
Beijing, Shanghai, Nanjing, Chengdu and Hong Kong.
andrew.pasek@xinhuafinance.com xfnap/xfntm
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