SINGAPORE - Frasers Hospitality, part of mainboard-listed Frasers Centrepoint Group, announced on Wednesday that it has opened its third property in Kuala Lumpur.

The 445-unit Fraser Residence Kuala Lumpur is both the city and Frasers Hospitality's largest serviced residence to date.

The opening of Fraser Residence Kuala Lumpur, which follows the launch of Capri by Fraser, Kuala Lumpur / Malaysia in 2014 and Fraser Place Kuala Lumpur in 2010, brings the hospitality group's portfolio in Kuala Lumpur to 1,000 apartment units.

Said Mr Choe Peng Sum, chief executive officer of Frasers Hospitality: "The opening of Fraser Residence Kuala Lumpur, which is our largest serviced residence to date, reflects the strong demand we have experienced for our first two Kuala Lumpur properties.... We expect this demand to continue, as the resurgence of interest from foreign firms will be boosted further by the government's implementation of The Economic Transformation Programme."

Fraser Residence Kuala Lumpur is located at the heart of the city centre, within walking distance of the Petronas Twin Towers, Suria KLCC shopping centre and KLCC Convention Centre.

Frasers Hospitality's global portfolio, including those in the pipeline, stands at 94 properties in 50 key gateway cities, and more than 17,000 apartments worldwide. The hospitality group is on track to double its inventory to 30,000 residence units over the next five years.