Frasers Hospitality, a unit of mainboard-listed Fraser & Neave, said it is on target to double its presence in China to 23 properties within the next two years.

This includes those in the pipeline, strengthening its presence in Beijing, Shanghai, Guangzhou and Shenzhen as well as key second and third tier cities.

Frasers Hospitality said this at the official opening of Fraser Suites Guangzhou, the largest serviced residence in the city.

Frasers' China portfolio will increase further by the end of this year with the addition of Fraser Place Tianjin, Modena Wuhan and Modena Wuxi.

Modena Wuhan will be launched next month.

These developments are in line with its strategy to meet the growing demand for premier residences in China's world class first tier cities, as well as the secondary high growth cities where foreign direct investment and tourism are expected to increase exponentially in the next few years.